Foreclosures down, but stubbornly high in Minnesota
Foreclosures are down but numbers remain stubbornly high, the Minnesota Homeownership Center reported this week in its “Foreclosures in Minnesota.”
The analysis of sheriffs’ sale data looked at all Minnesota counties and found 21,298 foreclosures in the state in 2011, a decrease of 17 percent from 2010.
The 2011 foreclosures represent the lowest number of sheriff’s sales since 2007, the center reported.
“It is certainly heartening to see that foreclosure prevention efforts are beginning to have a positive impact on the number of foreclosures,” said Julie Gugin, executive director of the Minnesota Homeownership Center, in a news release. “However, we can’t lose sight of the fact that the number of Minnesota families that lost their home to foreclosure is still three to four times higher than before the crisis began. In addition, more than 54,500 households continued to struggle with mortgage payments and received a pre-foreclosure notice from their lender during the year. ”
According to the report, Crow Wing County is in the fourth highest tier of foreclosures for counties with foreclosures ranging between 251 and 500.
For 2011: Crow Wing County had 358 foreclosures. Mille Lacs County had 193. Cass County had 123. Morrison County had 109. Aitkin County had 71. Todd County had 77 and Wadena County had 45.
Hennepin County, by comparison, had 4,953 foreclosures and St. Louis County had 516. A number of counties were in single digits, including Cook County with four foreclosures for the year.
All seven area counties saw a decrease in the number of foreclosures when comparing 2011 to 2010 with the exception of Wadena County, which increased by 32 percent.
In Aitkin County, foreclosures dropped 26 percent between 2010 and 2011. Cass County foreclosures dropped 22 percent. Crow Wing County foreclosures dropped by 8 percent, Mille Lacs County dropped by 15 percent, Morrison County dropped by 3 percent, and Todd County decreased by 20 percent.
For the map with every county’s foreclosures displayed, go online to hocmn.org.