MANDEL SCHOOL
NEWS AND EVENTS
August 07, 2007
Behind the Numbers, Brief No. 6 released. Properties owned by financial institutions
Behind the Numbers, BRIEF NO. 6, Titled "Houses in transition: A report on properties owned by financial institutions and real estate organizations in Cuyahoga County, 2007," discusses the rapid rise in foreclosure rates and housing abandonment in Cleveland and its surrounding suburbs.
This topic is garnering national attention and threatening to overwhelm the government agencies and community organizations that address the problem.
As of February 2007, a total of 9,175 of these sheriff’s deeds on single, two, three family homes and condominiums were owned by financial and real estate institutions.