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Published: Thursday, 6/11/2009

Foreclosures plunge in Toledo area, state

Foreclosure activity in the Toledo area and Ohio fell sharply in May from a year ago, according to a California company that tracks foreclosure filings such as default notices, scheduled auctions, and bank repossessions.

In May, the number of Toledo-area homes facing foreclosure dropped to 674 units, putting Toledo at 64th in foreclosure activity nationwide among 203 metro areas surveyed by RealtyTrac Inc. of Irvine, Calif. The 674 units were a decrease of 59 percent from a year ago when the Toledo area had 1,673 units in foreclosure.

Ohio was 10th highest among all states in foreclosure activity with 11,360 filings statewide. That was a decrease of 12 percent from a year ago, according to RealtyTrac.

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