Sometimes foreclosure can be prevented. Those in need of help should try the friendly folks at the Minnesota Home Ownership Center.
The services are free and here are some results that have just been published in the 2011 foreclosure prevention report.
Foreclosure prevention services and outcome:
In 2011, the Homeownership Advisors Network provided foreclosure counseling services to 10,178 homeowners.
Sixty percent (60%) of the homeowners receiving counseling services were able to avoid foreclosure. Among those who averted foreclosure, 89% were able to stay in their home, and 11% were unable to stay in their home.
Over the past four years, the Network has helped nearly 25,000 homeowners avoid foreclosure.
While the Center’s network continues to manage a high volume of clients, the numbers served in 2011 represents a decrease of 16% over 2010 service. This reduction mirrors a similar decrease in the actual number of households experiencing foreclosure in 2011.
The Twin Cities Metro region served the most clients (and has the largest population) but had one of the lowest decreases in clients (11%) served between 2010 and 2011. However, examining the distribution of all households served by region shows that there has been little change in the relative proportion of households served statewide.
Impressive!
