Foreclosure backlog, bulldozers force Ohio REO brokers to the suburbs

New foreclosure filings in the Ohio Supreme Court reached 89,053 in 2009, a 3.8% increase from 2008, but pending foreclosure cases are building at a faster rate.
The amount of pending cases in the foreclosure pipeline increased every quarter since the beginning of 2008. In Q108, there were 23,636 new foreclosure filings, which remained relatively flat until the end of 2009 when there were 22,486 filings reported. There were 34,263 pending cases in Q108, but there were 9.7% more reported in the last quarter of 2009.

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Foreclosure backlog, bulldozers force Ohio REO brokers to the suburbs