Posted on: Tuesday, February 12th, 2013 // under Latest News
St. Paul, MN – February 13, 2013 — The number of homes lost to foreclosure in Minnesota has fallen to the lowest level since 2006, according to a new report from the Minnesota Homeownership Center, Greater Minnesota Housing Fund, Minnesota Housing and the Family Housing Fund.
The report, titled “Foreclosures in Minnesota,” identified a total of 17,895 foreclosures in Minnesota in 2012, a decrease of 16% from 2011.
Using research provided by HousingLink, the report analyzes sheriff’s sale data, the primary means of identifying foreclosures, from all Minnesota Counties.
“We continue to see improvement in the housing market and we know that our foreclosure prevention efforts in Minnesota, combined with improvements in how banks and lenders deal with struggling homeowners are having a positive impact on the number of foreclosures,” stated Julie Gugin, Executive Director of the Minnesota Homeownership Center. “While we’re certainly moving in the right direction, we can’t lose sight of the fact that the number is still three times higher than it was before the crisis began. ”
Struggling homeowners are encouraged to seek help from a certified foreclosure prevention specialist who is a member of the Homeownership Advisors Network as soon as possible. Waiting limits a homeowner’s option. To find a free local foreclosure specialist, visit the Center’s website or call the Minnesota Homeownership Center at (866) 462-6466.
Founded in 1993, the Minnesota Homeownership Center is celebrating 20 years of promoting successful homeownership throughout the state and has been one of the state’s primary responders to the foreclosure crisis.