First BanCorp, parent of FirstBank Puerto Rico reported a net loss of $14.8 million for the fourth quarter of 2011, compared to a net loss of $24 million for the third quarter of 2011 and a net loss of $251.4 million for the same year-ago period in 2010.
Oriental Financial Group Inc. reported a loss of $13.1 million during the fourth quarter of 2001, sharply contrasting the positive results for the same year-ago quarter, when it recorded $3.9 million in income. The result for the quarter ended Dec. 31, 2011 also reflected a drop from the $15.6 million in the books for the prior quarter ended Sept. 30.
Refinancing a property is usually an expensive proposition that entails costly appraisals as well as fees that can add up to thousands of dollars, which often hold home owners back from reworking their loans to take advantage of dropping interest rates.
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