Study shows one percent increase in Hamilton Co. foreclosures

CINCINNATI - A new report issued on Monday sheds some positive light on the local foreclosure problem.

According to a new report issued by the group WIN, Working In Neighborhoods, there were 6,700 new foreclosure filings in Hamilton County in 2009.

That's a one percent increase over 2008.

WIN leaders say it's encouraging because it's less than half of the statewide average increase of 3 percent.

"We can see that the serving community has moved from a collection process to a modification process. I believe at least showing at least that there is modification departments out there and they're working on that," said Sister Barbara Busch, Executive Director of WIN.

Bruce Hablutzel is unsure of what the future holds for his Colerain Township home.

"I thought I was doing the right thing, making my payments all this time you know and now all of a sudden I'm in limbo again," said Hablutzel.

Last week, he received a letter from the Bank of America telling him he is no longer eligible for the Home Affordable Modification Program that had assisted him with his house payments.

Colerain and Springfield Townships top the list of foreclosures in Hamilton County.

In Cincinnati, Westwood, West Price Hill and East Price Hill are the top three neighborhoods for foreclosures.

"The worst is that we are continually seeing the same groups like Bank of America, U.S. Bank, Wells, Citi, Chase, JP Morgan/Chase are continuing to do a fair number of foreclosures and their workout ratios in my mind are fairly low," said Sr. Busch.

Bruce hopes he's not next on the foreclosure list.

"I've been in Colerain Township all my life. This is where I grew up at. I graduated from Colerain Senior High. I'd like to stay here but who knows," said Hablutzel.

A public hearing on foreclosure prevention programs is set for Tuesday night at 6:30 p.m. at St. Clare Catholic Church at 1443 Cedar Avenue in College Hill.

The U.S. Treasury department will have a representative on hand to answer questions from homeowners.