There have been over 100,000 foreclosures in Minnesota since 2005. The most common reason people sought for foreclosure counseling in 2009 was a loss or reduction of income. A better way of saying it is that people lost jobs and either could not find new jobs or could not find jobs that paid as well as the job they lost and had trouble making their mortgage payments because of it. [Minnesota Housing Partnership]
foreclosures
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Teresa… Thanks for staying on top of the foreclosure issue. I’d just like to remind your readers that while the numbers may be overwhelming… THERE IS HELP (You list us under your financial resources in the sidebar 🙂
Foreclosure prevention counseling is FREE and effective. Don’t give up without a fight.
http://www.hocmn.org
Thanks!
Yes there is help but I find the numbers staggering. Like you I deal with people who are losing their homes every day. The help rarely fits the situations of the people who are losing their homes. if you have any numbers on how many people you have helped and how I would love to publish them.
Our Foreclosure Counseling report should be available soon (maybe even this week)… while numbers aren’t done yet for 2010… I’d assume we counseled about 16k… bringing the total number of households served in the “Crisis” (time period in your chart above) to just about 70,000. With a foreclosure avoidance rate of about 50% (higher in the last two years).
Not everyone can keep their home… but EVERYONE can get access to information/education, learn about OTHER helps available as well as make sure that their rights are protected during the process.
No one should give up without speaking with a counselor… and tens of thousands of families are in their homes today becuase they DID.
🙂 Thanks Teresa!
Thanks Ed. You are right no one should ever give up their home without trying to get some help. I am looking forward to the report and I will write about it. Maybe it will help someone keep their home.
[…] 2005, more than 100,000 homes have been foreclosed in Minnesota, according to the Minnesota Housing Partnership. Nationwide, […]