Foreclosures in Minnesota 2011 Report

Foreclosures in Minnesota, 2011 Report
There were 21,298 homes sold at Sheriff’s Sale in 2011 in Minnesota, the fewest since 2007. However, it also reflects the fact that the foreclosure crisis is not over yet, as it means that over 1% of EVERY HOME in Minnesota was lost to foreclosure last year.
It also brings the cumulative total of foreclosures in Minnesota since we began tracking these numebrs in 2005 to over 135,000.
The comprehensive report, titled “Foreclosures in Minnesota”, analyzes sheriff’s sale data, the primary means of identifying foreclosures, from each of Minnesota’s 87 Counties. Minnesota is unique among other states in the availability of current, comprehensive foreclosure sale data.
To view a copy of the full report, go to: http://hocmn.org/en/2011ForeclosuresInMinnesota.cfm
In addition to the 21,298 homes that were sold in a foreclosure sale, more than 54,500 households continued to struggle with mortgage payments and received a pre-foreclosure notice from their lender during the year. (For more information about pre-foreclosure notices, visit the Center’s blog, here).
The Minnesota Homeownership Center, Greater Minnesota Housing Fund, Minnesota Housing and Family Housing Fund published the report, with research provided by HousingLink.
As always, struggling homeowners are encouraged to seek the help of a certified foreclosure prevention specialist that 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, homeowners can visit www.hocmn.org or call the Minnesota Homeownership Center at 866-462-6466.