November 10, 2005 09:51 Age: 8 yrs

Interim Dean Alexander Discusses Ohio Foreclosure Dilemmas

By: Beverly James

Interim Dean Frank S. Alexander is quoted in the November 7 issue of the Columbus Dispatch on how lenders play the foreclosure game. Banks and other mortgage lenders that foreclose on Ohio homeowners routinely delay filing paperwork for months or even years, masking their ownership and responsibility for vacant houses. Ohio has the nation's highest foreclosure rate in the nation, flooding many neighborhoods with vacant homes. "The banks are gaming the system," said Alexander, a national foreclosure specialist. As a practical matter, he added, it's easier for banks to delay filing their purchase deed until they sell the property.

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