Business

Mortgage foreclosure filings in Ohio fell nearly 30 percent in October compared to a year ago, but shot up more than 5 percent between September and October of this year.

Despite the drop, however, Ohio remained in the top 10 states in foreclosure filings, according to RealtyTrac, an Irvine, Calif.-based real estate firm.

Doug Harnish, president of Gem Public Sector Services in Dayton, said he attributes the statewide decline last month compared to October 2007 to fewer lenders wanting to take back the properties.

Managing the seized properties requires more staffing and resources than many lenders have, he said. Foreclosed properties also carry other costs, such as delinquent utility bills and unpaid taxes, Harnish said.

Some lenders also have become more willing to work out new payment terms on delinquent loans, too, so they can continue to receive some income from the property, he said.

In October, foreclosures filings in Ohio climbed 5.6 percent to 12,109 compared to September of this year, RealtyTrac said.

Foreclosure filings counted by RealtyTrac include default notices, auction sale notices and bank repossessions. Not all filings result in someone losing a home.

Nationwide, foreclosure filings reached 279,561 in October, a 5.1 percent jump over September of this year, and increase of 25 percent from the same month a year ago.

More than 84,000 properties were repossessed in October, RealtyTrac said.

Nevada, Arizona, Florida, California, Colorado led the country in foreclosure filings in October.

Foreclosures by County

— Montgomery County, 577.

— Butler County, 454.

— Clark County, 297.

— Greene County, 125.

— Hamilton County, 708.

— Warren County, 183.

— Miami County, 68.

Source: RealtyTrac