The Press Newspaper
More home loans slipping into foreclosure are conventional loans rather than subprime loans, according to a recent study by the State Foreclosure Prevention Working Group - attorneys general from 12 states, including Ohio’s Richard Cordray.
“The data shows that one in seven borrowers is behind in their mortgage,” Cordray said. “And hundreds of thousands of homeowners have adjustable-rate mortgages waiting to reset, ultimately sending even more into default. As our report outlines, servicers are long overdue to step up and start taking legitimate steps in reducing foreclosures. If they choose not to, the picture is grim.”
The report includes data compiled over two years by the group in cooperation with 13 large servicers of subprime mortgages.
Key finding of the report are:
The Lake Township trustees have turned to the township solicitor, Tom Hays, to represent the township on the board of directors of a Joint Economic Development District (JEDD) the township formed last year with the City of Toledo.
The appointment of Hays will be on an interim basis until the trustees have had time to interview other persons interested in serving on the JEDD board.
Still, the vote Tuesday to appoint Hays to the board wasn’t unanimous.
Trustees Melanie Bowen and Richard Welling voted for the appointment while Ron Sims voted against.
Sims said Police Chief Mark Hummer, who is also an administrative assistant to the trustees, should have been temporarily appointed to the seat.
“We already have an administrator for economic development (Hummer),” Sims said after the meeting. “I just feel that he should have been involved in this.”
Hummer has a separate contract with the township for handling administrative matters, including economic development related issues and grants.
The trustees also approved the appointment of Matt Sapara, Director of Development for the Toledo Lucas County Port Authority, as the township’s other representative to the five-member board.
Mayor Mike Seferian has chosen Michael Beazley, currently the administrator of Lucas County, as Oregon’s city administrator.
Seferian called a special council meeting for 5 p.m. Thursday to announce his choice. Council is expected to approve the appointment.
Candidates interested in the position submitted 60 resumes to the city by the Dec. 15 deadline, though Beazley did not submit one.
Seferian, an independent, said he had his eye on Beazley, a Democrat, since former city administrator Ken Filipiak left last November.
“Mike Beazley has never applied for a job since his career started. People have always come after him,” said Seferian, who met with Beazley, 55, twice at his home in the last several weeks to discuss the position.
“When I first had him here at my house, I could see a gleam in his eye, like excitement,” added Seferian. “He reminds me of a young, eager person fresh out of college, willing to take on anything with enthusiasm. He is very bright. He’s got not only experience, but connections throughout the county, to Columbus, and even to the White House. He’s a class act. He’s the real deal. He’s too good to be true.”
When Owens College softball players Lydia Eckel and Aerica Susor first chose to
volunteer community service alongside their teammates, they probably never thought they would be providing relief efforts for Haiti earthquake victims.
The two Genoa High graduates were two of 20 Owens’ student-athletes who volunteered on Martin Luther King Day.
Beginning at 9 a.m., the softball players began painting the waiting room, assembling survival backpacks for the homeless, and stocking and sorting food items at Food For Thought, which is located in New Harvest Christian Church on Seaman Road in Oregon. They planned to stay until 3 p.m.
Food for Thought was founded with the overall mission of assisting the needy through the organization’s stationary food pantry, mobile food pantry, and picnic program. Six days per week, Food For Thought is credited with providing community outreach services to thousands of individuals as part of its efforts to increase access to food for hungry people.
“Having people volunteer, and having all these girls here from the Owens softball team taking what’s a day off for them and spending it here is great,” said New Harvest Church Senior Pastor Mike Przylbylski.
A decrease in general fund revenues, layoffs, and budget cuts were among the challenges faced by Northwood last year, according to Mayor Mark Stoner in his state of the city address, delivered to council last week.
Last year, the city faced challenges “never before felt during my life-time,” he said.
“Due to economic factors we had to make cutbacks in all city departments to balance the budget,” he said.
“Our employees worked hard collectively to make the necessary budget cuts with minimal effect on our community’s services.”
He expected further challenges this year, he said.
“While I’m not clairvoyant and I cannot predict the future, one only needs to look at the daily headlines to fathom a guess as to the economic circumstances that the city as well as our nation will face in the foreseeable future,” said Stoner.
General fund revenues dropped 12.2 percent from 2008-2009, which translates into a decrease of $593,000 into the city coffers.
“Because of this decrease, the administration was forced to cut $678,000 in expenditures during the 2009 tax year. These cuts included laying off, or not filling the vacated positions of, nine individuals,” said Stoner.