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August 29, 2011

County Foreclosures Jump in August

NEO CANDO

According to data available from NEO CANDO (Northeast Ohio Community and Neighborhood Data for Organizing), the number of new mortgage foreclosures in Cuyahoga County during the month of August 2011 will top 1000, as discussed by Bill Callahan in his Callaghan Cleveland Diary weblog post on August 27, 2011.

Callahan, using data from the Center on Urban Poverty and Community Development's NEO CANDO, reports that the number of monthly foreclosure filings hasn't been this high since April 2010. He credits the 15 month reduction to the "robo-signing" scandal. However, foreclosures have risen again, especially for mortgages issued from Bank of America (BOA), the largest mortgage servicer in the country.

See also the recent Poverty Center blog on how the BOA is donating vacant foreclosed properties to the City of Cleveland for demolition.

Below is the graph of total new BOA foreclosures in Cuyahoga by week since August 2010 as posted by Callahan using NEO CANDO (click to view full size):

Weekly BOA Foreclosure Totals