By Christina Sturgis
Ohio is on a top 10 list that not even David Letterman would find amusing and the impact is being felt in Twinsburg.
The Buckeye State is ninth on Bankrate’s list of states with the most foreclosures, behind Florida, Nevada, Maryland, Illinois, New Jersey, Connecticut, Delaware and South Carolina. No. 10 on the list is California.
The Cleveland-Elyria-Mentor region is having a particularly difficult time, according to data collected by the Mortgage Bankers Association. The MBA estimates one in 14 home mortgages, or 7.18 percent, in that region are more than 90 days past due or are in foreclosure. The MBA has a top nine list of regions that are especially troubled by foreclosures that starts with Miami, with 13.64 percent of home loans in trouble, followed by the Tampa-St. Petersburg region with 11.4 percent of mortgages in trouble.
Foreclosure can have a devastating effect on homeowners and families, especially children and the elderly, according to a report by the Urban Institute. The initial displacement is coupled with a negative credit rating that can adversely affect finding rental housing and even hamper efforts to secure employment, setting in motion a series of events that can ultimately render a family homeless.
The Cleveland and Cuyahoga County area is estimated to have about 1,530 people who have no permanent home, only 5 percent of whom are completely without shelter, according to the most recent Annual Homeless Assessment Report to Congress. This is one of the lowest rates of unsheltered homeless of any major city in the nation, second only to Omaha, Neb., which has 2 percent.
The Northeastern Ohio Coalition for the Homeless maintains a one-page “street card” of all services, including free weekday meals and other necessities available without a referral.