Preforeclosure Notices Resume Their Drop
On Thursday, August 2nd, the Minnesota Homeownership Center released its data on the aggregate number of Preforeclosure Notices received by foreclosure counselors in the Homeownership Advisors Network for the second quarter of 2012.
Notices received dropped 17% from the first quarter of 2012, reaching their lowest point since the law was enacted in late 2008.
In the second quarter of 2012, members of the Homeownership Advisors Network received 9,995 preforeclosure notices, 17% fewer than the previous quarter, and 25% fewer than the during Q2, 211:
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Encouragingly, the metro area also experienced a similar 16% drop in the number of notices received:
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There are, however, a few areas of the state that we’ll need to continue to monitor as they have bucked the downward trend of the rest of the state: the City of Minneapolis and, to a lesser degree, Carver County:
While the overall numbers are certainly cause for celebration… we also have to remember that this brings the year-to-date total of Preforeclosure Notices received by Minnesota homeowners to 22,101.
More than 22 THOUSAND Minnesota families continue to struggle with mortgage payments. You can help them by sharing the message that help is available. For free.
This online advertising campaign (more info here) is already helping hundreds of struggling homeowners by connecting them with information, resources and effective foreclosure prevention help. Join us in spreading the word by placing them on your blog/website… or asking your employer, social service agency or local government to post them. For electronic copies of these ads, visit: http://hocmn.org/en/bannerpage.cfm.