Minnesota, USA: Preforclosure Rates Dropping

Preforclosure Rates Dropping in MinnesotaOn Monday, October 29th, the Minnesota Homeownership Center released new data on the aggregate number of Preforeclosure Notices received by counselors in the Homeownership Advisors Network for the third quarter of 2012.

“Minnesota homeowners, home builders and real estate professionals have been finding new reasons to gain confidence that the Twin Cities housing recovery is real. From the Minnesota legislators to non-profits to hard working homeowners, the efforts have been strong to reduce the number of Minnesota preforeclosures and the new stats prove it is working,” says Jenn Thuening, owner of Home Destination.

Data reports on the aggregate number of Preforeclosure Notices received by counselors in the Homeownership Advisory Network for the third quarter of 2012 are encouraging for the Minneapolis housing recovery. The numbers are down showing improvements. 10,016 households were notified by their lender/servicer between June and September of 2012 that they may be facing the dreaded news of being in foreclosure if they fail to bring their mortgage payments current.

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