Foreclosures a growing concern in Medina County

MEDINA, Ohio - A foreclosure auction in Medina County Thursday showed how suburbs are feeling the pain of the foreclosure crisis.

People filled the seats at the Medina County Community Center, looking to place their bids on 75 homes that are in foreclosure.

There are 90 homes scheduled for sheriff’s sale next month.

“That's a high number. That's approaching the highest number we've ever had which is 106, I believe," said 20-year auctioneer Darrell Jenkins.

In the crowd, Missy and Mark Kupetz had their eyes on a foreclosed home in Medina.

"It's kind of our dream house. It just fits. If we were to build a house, that's exactly the house we would build,” said Kupetz.

Foreclosures in Medina County have risen steadily in recent years, reaching a peak of 971 in 2010.

"We don't see the light at the end of the tunnel right now," said Jenkins.

The value of the foreclosed homes, scheduled at the auction, varied from $35,000 to a house worth more than $1 million.   There were also homes that sold for more than their appraised value.   For example, a $320,000 home in Wadsworth was bought back by a bank for $409,000.

"The bid on it was $409,000 which indicates to me that the mortgage was $409,000," said Jenkins.

The Kupetz family ended up making a bid and getting a deal on the house they wanted.

"It was actually appraised at $230,000 and we placed a bid and we got it for $164,500," said Missy Kupetz.

The sheriff’s office said a rough economy, job loss and companies leaving Medina County have contributed to the spike in foreclosures.

For many, it’s surprising and sad – even for the couple who just bought their dream home.

"I do wonder where all these foreclosed houses, where all these people are going, because there's foreclosed houses everywhere," said Mark Kupetz.

The Medina County Auditor’s Office offers a program that assists people with loan modifications, for those who qualify.