March 12th, 2012 ·
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 numbers 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.
