Monday, April 27, 2009

Start Tribune Editorial: Foreclosure Counseling is Cost Effective

The Minnesota Home Ownership Center was proud to be the focus of this weekend's Editorial in the Star Tribune!

The Editorial, based on information included in the 2008 Foreclosure Counseling Program Report that will be available on the Center's website on Wednesday April 29th, highlights "Success Stories in the Housing Meltdown" as well as the cost effectiveness of foreclosure counseling.

As we've noted on the blog before, the Center's network served over 11,000 Minnesota Households last year... and was able to assist those families in avoiding foreclosure 55% of the time!

Foreclosure Conseling costs, on average, of about $500.00 per household. Those $500.00 invested per family was able to save the State of Minnesota, local municipalities, lenders, communities and, most importantly, Minnesota Families approximately $300,000,000.00!! Yes - you read that right - 300 hundred million dollars.

You can read the Star Tribune Editorial here.

As soon as the report is released, it will be available on the Center's website!

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