Foreclosure Activity 2015

Karen Pederson February 23, 2016

2015 Minnesota Foreclosure Activity lowest since 2005. 7,212 homes lost to foreclosure last year. For the 2nd year in a row, no county had a foreclosure rate over 1%.

Foreclosure Activity in Minnesota Continues Downward Slide

Foreclosure Activity 2005-2015

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Minnesota foreclosure activity continues to drop and reaches levels we haven’t seen since 2005, according to a new report from the Minnesota Homeownership Center.

The report,  “Foreclosures in Minnesota,” identified a total of only 7,212 foreclosures in Minnesota in 2015, a decrease of more than 13% from 2014, when 8,313 foreclosures were recorded.

The report is the most accurate data on Minnesota foreclosure activity as it counts completed Sheriffs Sale (Foreclosure Auction) data from each of Minnesota’s 87 counties.

For the second year in a row, NO COUNTY in Minnesota had more than 1% of their residential parcels subject to a foreclosure sale in 2015.  Even the counties with the highest rates of foreclosure activity all saw a decrease in their foreclosure rate from 2014 to 2015:

TopFiveCounties_2015ForeclosureReport

 

The complete report, with county-by-county data, is available, here.

 

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 options.   To find a free local foreclosure specialist, find a foreclosure counselor, here, or call the Minnesota Homeownership Center at 866-462-6466.

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