Monday, January 18, 2010

66,570 Pre-Foreclosure Notices Received in 2009!

Wow! The Center’s Foreclosure Prevention counseling network received over 66,500 Pre-Foreclosure Notices in 2009!!

When we look at the year-end numbers, we also notice that the trend of decreased notices that started back in October ended rather abruptly in December with an almost 6% increase in the number of notifications received.

Here are the January through December, 2009 STATEWIDE Pre-Foreclosure Numbers:

And here is what the full year (January through December) 2009 looked like in the Twin Cities Metro Area:

Remember, these numbers are self-reported by lenders/servicers or their attorneys. 
It will be interesting to see year-over-year comparisons as we enter into 2010!

1 comment:

  1. Thanks for the update to this data!

    If you add up both the Twin Cities and Statewide monthly numbers and divide by 12, the monthly averages line up almost EXACTLY with the trend of where the last few months have been reporting. I believe with the moratoria we had in the first couple months of the year that we had some skewed numbers up and down - when you see that our most recent months add up to the same annualized rate as the last 12 months, it seems to me that it is fair to say that pre-foreclosure notices remained flat this year.

    It will be interesting to see what the next few months brings us but to me this seems like another set of data showing that while future foreclosures will likely remain at high levels, there is no sign of an impending larger "3rd wave" in the Twin Cities - at least not yet.


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