Tuesday, July 28, 2009

One in every 83 Homes In Process of Foreclosure

As a follow-up to last Friday's post on the statewide number of pre-foreclosure notices that the Counseling Network has received for the first 6 months of 2009... our friends at HousingLink were able to take the numbers and put them in perspective:

According to HousingLink, there were 1,795,383 homes (residential parcels) in Minnesota (as of 2008).

HousingLink then divided the number of homes by the number of pre-foreclosure notices we reported (21,030). This results in an approximate calculation of 1.2% of all homes in Minnesota.

That translates to one of every 83.33 homes in Minnesota has received a pre-foreclosure notification in the first half of 2009.

Thanks to HousingLink for their input!

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