Tuesday, March 5, 2013

Still mixed opinion

"The worst of the foreclosure wave might be past, but the wave hasn’t finished crashing yet. Cincinnati-based Fifth Third Bank’s home loans that were in the foreclosure process rose by nearly $4 million during the fourth quarter to top $579 million at year-end, according to filings with the Federal Deposit Insurance Corp.

That increase flies in the face of the national trend that had banks’ one- to four-family home loans (which are generally referred to as single-family home loans) in foreclosure falling 6 percent in the quarter, according to a study by Charlottesville, Va.-based research firm SNL Financial. The year-ago difference is even more stark. Fifth Third’s home loans in foreclosure climbed 10 percent from year-end 2011."