Minnesota Foreclosures Drop In First Half Of ’09

Posted by Orb Staff on August 13, 2009 No Comments
Categories : Mortgage Servicing

Minnesota is on pace for a 15% reduction in foreclosures as compared to last year, according to a new [link=www.hocmn.org/reports.cfm][u]report[/u][/link] that analyzes sheriff's sale data. The report, published by the Minnesota Home Ownership Center, the Greater Minnesota Housing Fund, Minnesota Housing and the Family Housing Fund, shows that there were 11,089 foreclosures in the state at the end of the second quarter, down from the 13,591 foreclosures recorded during the same period last year. In 2008, Minnesota, like most states, posted its highest foreclosure total on record – 26,261. "This report does not predict the future, but it does provide a look at current trends, and during the past two quarters, there was a definite decline over last year," says Julie Gugin, executive director of the Minnesota Home Ownership Center. SOURCE: [link=http://www.hocmn.org/]Minnesota Home Ownership Center[/link]

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