Thursday, July 23, 2009

June 2009 Twin Cities Pre-Foreclosure Notices

Minnesota State law (MN Statute 580.021) requires that the foreclosing party provide information regarding foreclosure prevention counseling services to the mortgager (homeowner) AND provide the homeowner’s name, address, and most recent known telephone number to an approved foreclosure prevention counseling agency - BEFORE filing the notice of pendency.
Once The Minnesota Home Ownership Center's network of foreclosure prevention agencies recieves notification from the lender/servicer/homeowners association, they then contact the homeowner, and track the number of notifications received during the month in their monthly reporting to the Center.
Here are the June, 2009 Pre-Foreclosure Numbers:

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While the June numbers are a slight dip from May, it's far too early to say if this is a trend, especially given the 'staircase' effect we've seen so far this year:

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Once again, we have to tip our hats to the statewide network of Foreclosure Counselors! 4,150 families received notification of their services in May!

This brings the total number pre-foreclosure notices received in the Twin Cities Metro area (7-County Metro) to 21,030!

If you're falling behind with your mortgage payments... or think you may fall behind soon... don't delay, contact a Housing Counselor that specializes in foreclosure today! To contact your local Counselor, click here.

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