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Visit Tales from the Trenches, the national blog for Facing the Mortgage Crisis.
Facing the Mortgage Crisis is part of CPB’s Public Service Media Economic Response Initiative.In-Depth Reports and Programs
Below are in-depth reports and programs, local and national, that have aired on WCPN and WVIZ about the mortgage crisis.
Wednesday, June 6, 2007
Mortgage Brokers, Loan Officers Numbers Down
A downturn in the country's mortgage industry and a new state anti-predatory lending law are causing a drop in the number of local companies putting together mortgages. The Ohio Department of Commerce says since January, the number of mortgage brokers in the state has plummeted 22 percent, and the number of loan officers are down 18 percent. ideastream's Mhari Saito reports.
Tuesday, May 29, 2007
The Incredible Shrinking City
Youngstown's urban redevelopment plan is attracting a lot of attention, particularly among other cities with lagging post industrial economies. Tuesday morning, we'll speak with some of the civic leaders who, rather than fighting a future as a small city, are embracing it. It's a vision where a neighborhood with a 60% vacancy rate isn't a problem - it's an asset. Join us at nine for the Incredible Shrinking City on The Sound of Ideas.
Tuesday, May 22, 2007
Foreclosure Pandemic
With thousands of home foreclosures predicted for this year in Cuyahoga County, Cleveland Congressman Dennis Kucinich held a federal hearing in Cleveland yesterday. It focused on the rash of high risk loans that have sent many hopeful homeowners into a downward spiral of debt. ideastream's David C. Barnett has more.
Monday, May 21, 2007
Kucinich to Hold Hearing Over Foreclosures
Congressman Dennis Kucinich will be taking the Federal Reserve of Cleveland to task today for the soaring number of foreclosures in the city. ideastream's Bill Rice reports.
Thursday, May 10, 2007
Safeguard Property Management Profile
Rising foreclosures have given a boost to one little known industry: mortgage field servicers. These are contractors that take care of foreclosed property for lenders. Perhaps then its not so much of a surprise that Cleveland, the city with one of the highest foreclosure rates in the U.S., is also home to the largest privately held mortgage field services company in the country. ideastream's Mhari Saito spent some time with employees at Safeguard Property Management and filed this report.
Wednesday, April 18, 2007
After Lapse, City of Cleveland Ramps Up Demolitions
A $6 million bond hits the street this week, money earmarked for the City of Cleveland to knock down dangerous and abandoned properties. City officials say it's the first time they're issuing bonds just for demolition and blight removal. Neighbors and housing activists welcome the money. But they warn City Hall must reform its Department of Building and Housing if the job of tackling the city's worst homes is really going to get done. ideastream's Mhari Saito reports.
Friday, April 6, 2007
Study Shows Banks Waiting to Reveal Foreclosures
Rising numbers of foreclosures across Ohio mean banks and mortgage companies are finding themselves stuck with more and more homes - and the bills required to keep the properties up to code. Housing activists say some lenders are avoiding these responsibilities by taking too long to formally tell the county that they've repossessed the property. A new study out of Case Western Reserve University's NEO CANDO project may shed some light. It found 2,000 properties in Cuyahoga County - 1,100 in the city of Cleveland - that have been repossessed by mortgage companies at sheriff sale, but have been waiting months, if not over a year, for lenders to file their deeds. ideastream's Mhari Saito reports.
Monday, April 2, 2007
Ohio Home Foreclosures Soaring
The number of foreclosure filings in Ohio is soaring, and advocates for homeowners say - more and more, it is families that are solidly middle class that are being hurt. There are calls for more government regulation of lenders, but the lenders insist they are not the main problem. Statehouse correspondent Bill Cohen reports.
Monday, March 26, 2007
Hope for the Northeast Ohio Housing Market
Sub-prime lenders are taking heat on Capitol Hill - and now, local foreclosures are in the national headlines. So, is there any hope for the Northeast Ohio housing market? On The Sound of Ideas, we'll talk with local analysts about the collapse of the sub-prime market, the effect that's likely to have locally, and whether the local housing market has finally hit bottom. Also, the Elections board shake out leaves vacancies for two democrats - so who's going to be appointed? That's Monday morning at nine on 90.3.
Thursday, March 22, 2007
One Family’s Foreclosure Struggle
Rising foreclosures and trouble in the nation's mortgage markets are now grabbing political attention. Today, top executives from four major subprime lenders are heading to Washington to testify at a Senate Banking committee hearing. And yesterday, Cleveland's struggle with foreclosures was heard in a congressional subcommittee hearing convened by U.S. Representative Dennis Kucinich. Foreclosures in Cuyahoga County are climbing this year, so far averaging nearly 1,300 a month. ideastream's Mhari Saito followed one family as it scrambled this week to save their home.
Take Action
United Way 211
United Way's 211/First Call For Help is a free and confidential information service ready to direct you to the health and human services you need in Cuyahoga, Geauga and Medina Counties.
Just dial 2-1-1. Professional staff are available to help you 24 hours a day, every day.
Save the Dream
The American dream of home ownership is disappearing during these times of crisis. In Ohio, rising unemployment, loss of business, and a bleak economic outlook also threaten that dream.
Help is available. Save the Dream provides information and highlights programs that Ohioians can use to help save the dream of owning a home.
Upcoming Events
ESOP Partners with Area Suburbs to Help Homeowners
Two additional suburbs will hold local intake sessions, in partnership with ESOP (Empowering & Strengthening Ohio’s People), to provide FREE foreclosure prevention counseling to area homeowners. This initiative builds on ESOP’s track record of making its highly successful foreclosure counseling practices more readily available in Cuyahoga County suburbs. ESOP already provides intakes in South Euclid and Lakewood.
Starting Feb. 4, 2010, trained counselors from ESOP will also set up shop once a week in Bedford Heights and Garfield Heights. Please see below for more detailed information on the time and location of these new intake sessions. Homeowners do not have to be city residents but MUST call or email ESOP to set up an appointment.
Bedford Heights, Every Wednesday at 6 p.m.
Jimmy Dimora Community Center, 5615 Perkins Road, Bedford Heights, OH 44146
Garfield Heights, Every Thursday at 1 p.m.
Word of Righteousness Family Life Center, 13455 Dressler Avenue, Garfield Heights, Ohio 44125
To make an appointment or for more information, please call ESOP at 216-361-0718 or email .
ABOUT ESOP:
ESOP is a HUD-certified housing counseling agency. ESOP’s success stems from partnerships with various lenders and servicers, allowing for easy negotiation of loan modifications. ESOP has been nationally and internationally recognized for its campaigns against predatory lenders and for its success obtaining mortgage resolutions that keep families in their homes.
Funding
Funding for the coverage of economy and jobs topics comes from The Cleveland Foundation; The George Gund Foundation; The Kelvin and Eleanor Smith Foundation; The Nord Family Foundation; The Bruening Foundation; The Community Foundation for Lorain County; and The Charter One Foundation.
