tag:blogger.com,1999:blog-3997092995293569752024-03-06T14:00:05.752-06:00@ homeThe Housing Resource Blog of the Minnesota Homeownership CenterUnknownnoreply@blogger.comBlogger321125tag:blogger.com,1999:blog-399709299529356975.post-44890522733514353452014-04-11T11:02:00.001-05:002014-04-11T11:02:09.401-05:00WE'VE MOVED!<span style="color: purple; font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="color: purple; font-family: Trebuchet MS, sans-serif;">We are no longer blogging here at Blogspot/Blogger... keep up with us here:</span><br />
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<span style="font-family: Trebuchet MS, sans-serif; font-size: x-large;"><b><a href="http://www.hocmn.org/blog">www.hocmn.org/blog</a></b></span><br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-5619867056605960762013-11-18T09:02:00.000-06:002013-11-18T09:03:22.652-06:00Help with home repairs in Minnesota<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDXeoDWVkjVPB5g-PI0YctiVIrFIY1yfc5MYzA-xpViZazVGjPguaLxNMLeqyQNXPhLZeA7khTmn6wJv1MYC0gAOv0CAYZEWo0z7KfvpMGCAQBWJ3ZPzlYxWjVy8R-eHf0in3D-uQM3Zau/s1600/RepairRehab_Thumbnail.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><span style="font-family: Trebuchet MS, sans-serif;"><img alt="" border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDXeoDWVkjVPB5g-PI0YctiVIrFIY1yfc5MYzA-xpViZazVGjPguaLxNMLeqyQNXPhLZeA7khTmn6wJv1MYC0gAOv0CAYZEWo0z7KfvpMGCAQBWJ3ZPzlYxWjVy8R-eHf0in3D-uQM3Zau/s200/RepairRehab_Thumbnail.jpg" title="" width="200" /></span></a></div>
<span style="font-family: Trebuchet MS, sans-serif;">As this weekend's storms that damaged or destroyed entire towns in Illinois and Indiana have proven, the weather in the upper Midwest can be brutal on our homes. But even if you haven't experienced devastating storm damage, <i><u>every home</u></i> will eventually need repairs and major systems (furnace, roof, etc.) will require replacement. Informed consumers who take the Center's homebuyer education course, <b><span style="color: #cc0000;"><a href="http://www.hocmn.org/buyingahome/home-stretch-workshop/" target="_blank">Home Stretch</a></span></b></span><span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 115%;">™</span><span style="font-family: 'Trebuchet MS', sans-serif;">, or our online version, <a href="http://www.hocmn.org/buyingahome/framework/" target="_blank"><b><span style="color: #cc0000;">Framework</span></b></a></span><span style="font-family: Calibri, sans-serif; font-size: 11pt; line-height: 115%;"><a href="http://www.hocmn.org/buyingahome/framework/" target="_blank"><b><span style="color: #cc0000;">®</span></b></a></span><span style="font-family: 'Trebuchet MS', sans-serif;">, understand that owners should strive to save 1-2% of a home's purchase price EVERY YEAR for future maintenance.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">At the Minnesota Homeownership Center, we understand that setting aside funds for future maintenance can be difficult and sometimes repairs or maintenance of major systems can occur unexpectedly. For that reason, every quarter the Center produces a <a href="http://www.hocmn.org/buyingahome/framework/" target="_blank"><b><span style="color: #cc0000;">Home Rehab/Repair Matrix</span></b></a> that helps homeowners identify home repair and rehab programs throughout Minnesota that can help with emergency repair, energy efficiency, lead hazard abatement and other general repairs. Some of these programs are outright grants that cover the cost of the repair/rehab while others are loans, usually with below-market interest rates. Most of the programs are designed for low- to moderate-income homeowners and have income limits.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">The most recent version of the Home Rehab / Repair Matrix is now available and contains information on dozens of programs that can help Minnesota homeowners with repairs or maintenance on their homes. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">For a copy of the complete <a href="http://www.hocmn.org/buyingahome/framework/" target="_blank"><b><span style="color: #cc0000;">Home Rehab / Repair Matrix</span></b></a>, as well as additional information for homeowners, visit the Center's website, <a href="http://www.hocmn.org/resources-for-homeowners/" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>.</span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-55777932633192257802013-11-13T11:43:00.000-06:002013-11-13T11:43:34.589-06:00November 14th Is Give To The Max Day<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgxHvUElpWSxaUSmGzhIq-cvGaE-LuMQH4ntt5uYjOnYGuQsdRka9OkFl3LJVccQg6O7d1Tf5QV99E3frWxqUEBQ3PBY2MzxuwiDGDJf7OikePwdJ9A0Lm3nIIv9YIwVHtSsuhG3om0VRVh/s1600/event-logo-vertical.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgxHvUElpWSxaUSmGzhIq-cvGaE-LuMQH4ntt5uYjOnYGuQsdRka9OkFl3LJVccQg6O7d1Tf5QV99E3frWxqUEBQ3PBY2MzxuwiDGDJf7OikePwdJ9A0Lm3nIIv9YIwVHtSsuhG3om0VRVh/s1600/event-logo-vertical.jpg" /></a></div>
<span style="font-family: Trebuchet MS, sans-serif;">As faithful readers of this blog know, <span style="line-height: 110%;">the <a href="http://www.hocmn.org/" target="_blank"><b><span style="color: #cc0000;">Minnesota Homeownership Center’s</span></b></a> mission is to promote and advance successful homeownership in
Minnesota, with a focus on serving the needs of low- and moderate-income
families and emerging markets.</span></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">At the core of this mission is
the belief that everyone can achieve long-term homeownership if they enter
through the right door—prepared to make wise, informed decisions for their
families.<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">This year, the Minnesota
Homeownership Center is celebrating 20 years of advancing successful
homeownership. <b><span style="color: blue;">Over these 20 years, the Center has changed the lives of more
than 200,000 Minnesota families. </span></b><o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">The Center provides homeownership
education and counseling to ensure that every Minnesota family pursuing
homeownership enters the transaction only when prepared and empowered with the
information needed to make decisions that will sustain their housing and
communities for years to come. We are the central resource for foreclosure
prevention resources in the state and provided critical services during the
foreclosure crisis. <o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">For more information about our
work, visit our website at <a href="http://www.hocmn.org/"><b><span style="color: #cc0000;">www.hocmn.org</span></b></a>.</span><span style="font-family: Calibri, sans-serif;"><o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">If you haven't already chosen an organization or two to financially support during this year's Give to the Max day... we'd love for you to choose us! </span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><b><a href="http://givemn.razoo.com/story/Hocmn">http://givemn.razoo.com/story/Hocmn</a></b></span></h3>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-11797275066325992812013-11-01T13:57:00.002-05:002013-11-01T13:57:41.774-05:00Do It By The Numbers!<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtFiEaZsXXowMrA1ZZIuYWHgBu9126fFg4bJxp2r8twNA8VeZmp9-8Liqafe4VCgxWpgWi3yKa2nK_1g-U6chXf_ZLnJgxAWSy0Brv7m5bidF5-781q3TU9OzjYsEbiSj1EciSh4YuZgHY/s1600/numerology-01.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="110" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtFiEaZsXXowMrA1ZZIuYWHgBu9126fFg4bJxp2r8twNA8VeZmp9-8Liqafe4VCgxWpgWi3yKa2nK_1g-U6chXf_ZLnJgxAWSy0Brv7m5bidF5-781q3TU9OzjYsEbiSj1EciSh4YuZgHY/s200/numerology-01.jpg" width="200" /></a></div>
<span style="font-family: Trebuchet MS, sans-serif;">Numerologists claim that there is a mystical connection between numbers, or series of numbers, and events that happen in your life. Here at the Homeownership Center we can’t answer paranormal questions but we can say that there <i>REALLY IS</i> a number that impacts your financial life and long-term homeownership success.</span><br />
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<span style="color: blue; font-family: Trebuchet MS, sans-serif;"><b>That number is your credit score.</b></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">The good news is that this number isn't mysterious… you can learn what your score is and – even better – learn how to improve it.</span><br />
<span class="Apple-tab-span" style="white-space: pre;"><span style="font-family: Trebuchet MS, sans-serif;"> </span></span><br />
<span style="font-family: Trebuchet MS, sans-serif;">Your credit score is important. A low score not only means that you'll pay higher interest rates on mortgages, car loans, credit cards and other loans, but it can also prevent you from getting an apartment, keep you from being hired for a job you want, or cause you to pay more for insurance coverage.</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">A strong credit score is the key that unlocks the door to better loans, cheaper car insurance and more. YOU CAN build a good score and LSS Financial Counseling, a member of the <a href="http://www.hocmn.org/about-us/homeownership-advisors-network/" target="_blank"><b><span style="color: #cc0000;">Homeownership Advisors Network</span></b></a> along with US Bank and Freddie Mac want to show you and your clients practical ways to improve your score at a free event next week:</span><br />
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<ul>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Learn how to improve your score after a financial setback</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Understand the credit scoring system and the steps to take to improve your score</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">And much more.</span></li>
</ul>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><b><span style="color: blue;"><br /></span></b></span>
<span style="font-family: 'Trebuchet MS', sans-serif;"><b><span style="color: blue;">Event Information: </span></b></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><b>DATE</b>: <span class="Apple-tab-span" style="white-space: pre;"> </span>Wednesday, November 6th, 2013</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><b>TIME</b>: <span class="Apple-tab-span" style="white-space: pre;"> </span>7:00 – 8:30 pm</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><b>LOCATION</b>: <span class="Apple-tab-span" style="white-space: pre;"> </span>Center for Changing Lives </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"> <span class="Apple-tab-span" style="white-space: pre;"> </span>2400 Park Avenue S, Minneapolis, MN 55404</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><i>The event is FREE and everyone who attends will be entered in a drawing for a $50 gift card door prize!</i></span><br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-66167140616136209202013-10-10T14:53:00.003-05:002013-10-10T14:53:44.808-05:00Emerging Markets, Homeownership and Olmsted County<div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7Hf-Xh_aDqHb76RmpnnDvT49mVBlYGWEGv86MkABWfCzFmuS6sQfpt6WMWxKRes_ZHU8OVF5f2CpZ6GqvHkCsVjNTyuxUXwahpERvO56r9v8DgluOjvd8PGpZhyphenhyphen7WoyRxvQp1tGwrZQVE/s1600/EMHI_Logo_300x300.jpeg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi7Hf-Xh_aDqHb76RmpnnDvT49mVBlYGWEGv86MkABWfCzFmuS6sQfpt6WMWxKRes_ZHU8OVF5f2CpZ6GqvHkCsVjNTyuxUXwahpERvO56r9v8DgluOjvd8PGpZhyphenhyphen7WoyRxvQp1tGwrZQVE/s200/EMHI_Logo_300x300.jpeg" width="200" /></a></div>
<span style="font-family: Trebuchet MS, sans-serif;">The Federal Reserve Bank of Minneapolis, Greater Minnesota Housing Fund and the Minnesota Homeownership Center invite you to attend:</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><b>EMERGING MARKETS HOMEOWNERSHIP INITIATIVE</b></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><b>LUNCH & LEARN:</b></span><b style="font-family: 'Trebuchet MS', sans-serif;"><br /></b></div>
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<span style="color: blue;"><span style="font-family: Trebuchet MS, sans-serif;"><b>Emerging Markets Opportunities </b></span><b style="font-family: 'Trebuchet MS', sans-serif;">in </b></span></div>
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<b style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: blue;">Rochester and Olmsted County</span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: #6aa84f;">SPEAKERS</span></b>: </span><br />
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<li><b style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #741b47;">Michael Grover</span></b><span style="font-family: 'Trebuchet MS', sans-serif;">, Community Development Manager for the Federal Reserve Bank of Minneapolis will share information on current demographics and homeownership rates in Olmsted County, </span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #741b47;"><b>Umbelina Cremer</b></span>, will provide insight into programming that Three Rivers Community Action has used to successfully transition emerging markets clients to homeownership. </span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;"><b><span style="color: #741b47;">Paul Wilson</span></b>, Olmsted County Commissioner, will share information on the results of the Rochester Housing Summit.</span></li>
</ul>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="http://www.hocmn.org/wp-content/uploads/2013/10/2013_LunchAndLearn_Flyer.pdf" style="margin-left: auto; margin-right: auto;" target="_blank"><img border="0" height="207" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjaDQrVo10Xfw-Vp332rf_xLqXuUcfcFJWe42iGXsKGLftNgx-lWRxin5CVqpKTRwU5rZQJGV3X-rD3At203VQFzWl6qso-vaphn2qNJxK8DZX3Uv9Jtyeg0K8BTkruxjCJjIPqxtlztRGB/s320/2013_LunchAndLearn_Flyer.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Click For PDF Version To Share</td></tr>
</tbody></table>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #6aa84f;"><b>DATE & TIME</b></span>: Wednesday, October 30th, 2013 11:30am - 1pm</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: #6aa84f;">LOCATION</span></b>: <a href="http://www.rochestereventcenter.com/" target="_blank"><b><span style="color: #cc0000;">Rochester Event Center</span></b></a></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #6aa84f;"><b>AGENDA</b></span>:</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"> 11:00 Registration and lunch*</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"> 12:00 - 1pm Speakers and small group discussion</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"> 1:00 Wrap-up</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"> <i><span style="font-size: x-small;">* Lunch will be provided by the Federal Reserve Bank of Minneapolis</span></i></span><br />
<span style="font-family: Trebuchet MS, sans-serif;"> </span><span style="font-family: 'Trebuchet MS', sans-serif;"> </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: #6aa84f;">COST</span></b>: <i>Free</i></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: #6aa84f;">AUDIENCE</span></b>: This <i>Lunch and Learn</i> opportunity - including a free lunch! - is open to all homeownership stakeholders, including: real estate, lending, government and non profit leaders working on Emerging Markets and affordable homeownership issues. </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: #6aa84f;">PARKING</span></b>: Free, Onsite.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: #6aa84f;">RSVP TODAY</span></b>: <a href="http://rochesteremhi.eventbrite.com/"><b><span style="color: #cc0000;">http://RochesterEMHI.eventbrite.com/</span></b></a></span><br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-53648108583858638222013-09-19T09:12:00.000-05:002013-09-19T09:12:00.696-05:00Healthy Homes And Communities<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjjuErPe5XWZbBdJKPQCsMlhshyphenhyphenXM_48BRysf3fe9fiBY3kkF_4RhFanc0K9ADLlnZKVrIvCavN73Ucy8I_mRLnWoR-hPwrTA78hHSaUkFrIVSLAw4d7S3pBBs7e_ekMU0YtGeRM8tQCwB/s1600/Healthy_Home2.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjjuErPe5XWZbBdJKPQCsMlhshyphenhyphenXM_48BRysf3fe9fiBY3kkF_4RhFanc0K9ADLlnZKVrIvCavN73Ucy8I_mRLnWoR-hPwrTA78hHSaUkFrIVSLAw4d7S3pBBs7e_ekMU0YtGeRM8tQCwB/s1600/Healthy_Home2.jpg" /></a></div>
<span style="font-family: Trebuchet MS, sans-serif;">Many times when people discuss the benefits of homeownership, those benefits are focused on purely financial benefits like savings and wealth creation. While it's true that an investment in homeownership has traditionally been one of the primary strategies for long-term wealth building, especially for low- to moderate-income Americans, there are other non-financial benefits to successful homeownership. </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">One of the lesser-known benefits is the positive link between owning and improved health and well-being. When compared to renters of similar socio-economic levels, homeowners have better physical health levels, lower child injury rates and higher self-esteem and improved mental health and lower blood pressure. (If you're interested in digging deeper into the research behind these claims, you can start <b><span style="color: #cc0000;">here</span></b> and <a href="http://www.ncbi.nlm.nih.gov/pubmed/15054017" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>). </span><br />
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<span style="color: blue; font-family: Trebuchet MS, sans-serif;"><b>But what about the relationship between healthy homes and healthy families? </b></span><br />
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<span style="font-family: 'Trebuchet MS', sans-serif;">An upcoming assembly of housing and health professionals, policymakers and community leaders seeks to delve deeper into the critical connections between health and the places we live, help break down health and housing silos, and improve cooperation among these disparate professions through improved network connections and cross-sector collaborations.</span><br />
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<span style="font-family: 'Trebuchet MS', sans-serif;">Known as the </span><span style="font-family: Trebuchet MS, sans-serif;"><a href="https://www.regonline.com/Register/Checkin.aspx?EventID=1268294" target="_blank"><b><span style="color: #cc0000;">Healthy Homes and Communities Statewide Convening 2013</span></b></a>, the upcoming event includes </span><span style="font-family: 'Trebuchet MS', sans-serif;">a keynote address by eco-entrepreneur and community revitalization strategist <a href="http://en.wikipedia.org/wiki/Majora_Carter" style="color: #cc0000; font-weight: bold;" target="_blank">Majora Carter</a><b style="color: #cc0000;"> </b>and workshop sessions that will highlight successful local healthy housing and communities initiatives and programs. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Healthy Homes and Communities Statewide Convening 2013</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Tuesday, October 01, 2013 9:00 AM - 4:30 PM</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">The Depot</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">225 South 3rd Avenue</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Minneapolis, Minnesota 55401</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">For additional information about the Statewide Convening, contact Shawna Lynn Nelsen: shawna@fhfund.org.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">If you, or someone you know, would like additional information on the benefits (and costs) of homeownership and how YOU can benefit by becoming a successful homeowner, contact a <b><a href="http://www.hocmn.org/buyingahome/" target="_blank"><span style="color: #cc0000;">Homeownership Advisor</span></a></b> today.</span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-74432620463810927572013-08-26T07:00:00.000-05:002013-08-26T07:00:02.942-05:00Home Stretch: An “Insider’s” Perspective<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHgeALzpCG_iapcQzQjOpMXADxzmVR91U1EpjNxM1UwlDxqjhClE5sKGvZkYi9OVP4Nn_K_DrdEvhCX7eVvIYmTS2w1vZXT1hrE8cyKn9QMcPfkVybdmXlgp4WaDG9TWSqWVOAkZrENqcx/s1600/GuestPostImage.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="111" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHgeALzpCG_iapcQzQjOpMXADxzmVR91U1EpjNxM1UwlDxqjhClE5sKGvZkYi9OVP4Nn_K_DrdEvhCX7eVvIYmTS2w1vZXT1hrE8cyKn9QMcPfkVybdmXlgp4WaDG9TWSqWVOAkZrENqcx/s200/GuestPostImage.jpg" width="200" /></a></div>
<span style="font-family: Trebuchet MS, sans-serif;">This post is a guest post by Laura Grevas, Program Coordinator for the Minnesota Homeownership Center.</span><br />
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<span style="font-family: 'Trebuchet MS', sans-serif;">Before I began working at the Minnesota Homeownership
Center, I knew as much about the home buying process as your average twenty-something</span><span style="font-family: 'Trebuchet MS', sans-serif;">.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">In other words, I didn't know much. <o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">I knew that affordable homeownership is the cornerstone of
thriving neighborhoods. I didn't know just how much I <i>didn't</i> know about buying a home. That’s why homebuyer education is
so important. Buying a home is likely the largest purchase any of us will make
in our lifetimes, so it pays to be prepared and have at least enough
information to advocate for your family’s best interest. <o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Because the Center oversees a network of agencies that
provide Home Stretch (homebuyer education) Workshops across the state, new
employees are asked to join a class to get a sense of our flagship program. <o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">The folks at Community Neighborhood Housing Service – one of
more than 30 Home Stretch providers– were kind enough to let me sit in on a
portion of their Saturday class in St. Paul. <o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Our facilitator began the afternoon session by talking about
real estate basics, before introducing a local Realtor who schooled us in how
and why people buy – or want to buy- where they do. Realtors aren't ethically
allowed to steer their clients away from or toward certain neighborhoods, which
is something I didn't know. The workshop format allows plenty of time to ask
questions, both of the facilitator and the guest speakers, experts in their
field who volunteer their time to teach new homebuyers. My classmates (the ones
who were actually, you know, buying a house) swapped stories about their
experiences so far, and I think we all learned something new.<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">My favorite guest speaker was the professional home
inspector. With more than 20 years of experience, this inspector had seen some
pretty major problems in folks’ prospective dwellings. In addition to teaching
us how to find a reliable inspector and make the most of the inspection
process, he shared some little-known home safety tips. <o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">The average age of homeownership in Minnesota is 29, so
we’ll see if that happens for me. Either way, I’m glad I observed this class –
it definitely provides lots of valuable information that could prevent
headaches down the road! </span><o:p></o:p></div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-68653804335855653942013-08-15T08:18:00.000-05:002013-08-15T11:04:16.366-05:00Minnesota Foreclosure Activity Continues to Plummet<b><span style="color: #999999; font-family: Trebuchet MS, sans-serif;">Sheriff’s Sales drop to less than 7,000 in the first half of 2013</span></b><br />
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<span style="font-family: Trebuchet MS, sans-serif;">From the Minnesota Homeownership Center's most recent press release: -- During the first half of 2013 the number of completed Sheriff’s Sales, the final step of the foreclosure process in Minnesota, has fallen to the lowest level since the beginning of the housing crisis. Statewide, there were 6,795 foreclosures in the first two quarters of 2013. This number is 29 percent less than the same period of 2012, with a greater decline seen in the Twin Cities metro area (down 33 percent) than in Greater MN (down 23 percent).</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">The “<b><a href="http://www.hocmn.org/reports-resources/foreclosure-prevention-reports/" target="_blank"><span style="color: #cc0000;">2013 Semi-Annual Foreclosures in Minnesota</span></a></b>” report was released Thursday by the Minnesota Homeownership Center using research provided by <a href="http://www.housinglink.org/Home.aspx" target="_blank"><b><span style="color: #cc0000;">HousingLink</span></b></a> and adds to other <a href="http://hocmn.blogspot.com/2013/07/preforeclosure-notices-continue-to.html" target="_blank"><b><span style="color: #cc0000;">recent evidence</span></b></a> showing that fewer Minnesota homeowners are struggling with mortgage payments than at any time since 2006. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">While more than 1,100 homes each month were lost to foreclosure in the first half of the year, this number pales in comparison to 2010, when Minnesota was experiencing the worst of the housing collapse. During the first half of 2010, lenders were auctioning off more than 2,100 homes each month.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">“Modest improvements in Minnesota’s economy and increasing home prices, combined with improvements in how banks and lenders deal with struggling homeowners are positively impacting the number of homes lost to foreclosure,” stated Ed Nelson, Marketing and Communications Manager for the Minnesota Homeownership Center. “However, while the most recent data is encouraging, we can’t lose sight of the fact homes are still being lost to foreclosure at rates that exceed twice those of historic levels.”</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Homeowners that are struggling to make mortgage payments are encouraged to seek help from a certified foreclosure prevention specialist that is a member of the Homeownership Advisors Network as soon as possible. Waiting limits a homeowner’s option. <b>To find a free local foreclosure specialist, click <a href="http://www.hocmn.org/foreclosure-prevention/" target="_blank"><span style="color: #cc0000;">here</span></a>,</b> or call the Minnesota Homeownership Center at 866-462-6466. </span><br />
<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-44538286719262886732013-07-23T10:42:00.000-05:002013-07-24T15:02:04.580-05:00Preforeclosure Notices Continue to Plummet in Minnesota<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPqi9bk-cayEW-qtA_jL9sYfpViSkEBjKpiSQABOAt_QKJtJirJb9n-BgyxJdxkcNd68r4egPElU6HWiVIQIj4cfqEpdBvP89w4nGR8kLvC_tUb5tKm7MjA7zKs5Ub6IJqro9nreefXYy2/s1600/Abacus.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPqi9bk-cayEW-qtA_jL9sYfpViSkEBjKpiSQABOAt_QKJtJirJb9n-BgyxJdxkcNd68r4egPElU6HWiVIQIj4cfqEpdBvP89w4nGR8kLvC_tUb5tKm7MjA7zKs5Ub6IJqro9nreefXYy2/s1600/Abacus.jpg" /></a></div>
<span style="font-family: Trebuchet MS, sans-serif;">The Minnesota Homeownership Center has compiled the most recent quarterly data on Preforeclosure notices and the report shows that the number of notices issued by banks and servicers continues to plummet across the state. The data is another encouraging sign that the Minnesota housing market is slowly recovering from the foreclosure crisis.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">In the second quarter of 2013, Minnesota homeowners received only 6,598 preforeclosure notices, a healthy 34% drop from the almost 10,000 notices received in the same quarter of 2012:</span><br />
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<span style="font-family: 'Trebuchet MS', sans-serif;">The decline is even more dramatic in the Twin Cities metro area, where the <strike>3,339</strike> 3,714 notices received* by homeowners represent a drop of almost half from the same period last year: </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">”We see signs of the overall economy improving as well as a willingness on the part of lenders and servicers to work with struggling homeowners before they enter the foreclosure process,” Said Ed Nelson, Marketing and Communications Manager for the Center “If the economy continues to gain traction, combined the extraordinary efforts of the statewide network of foreclosure prevention counselors, we should continue see even fewer foreclosures in the future.”</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">The positive trend for Minnesota cannot be denied... but we also know that these numbers mean that almost <b><span style="color: blue;">SIXTEEN THOUSAND</span></b> families were struggling to make mortgage payments - and fell behind - during the first half of 2013. The <a href="http://www.hocmn.org/" target="_blank"><b><span style="color: #cc0000;">Minnesota Homeownership Center</span></b></a> and the <a href="http://www.hocmn.org/foreclosure-prevention/" target="_blank"><b><span style="color: #cc0000;">Homeownership Advisors Network</span></b></a> will continue to offer FREE foreclosure avoidance services to anyone who is struggling with their mortgage payments.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">If you, or someone you know, is struggling with to keep up with their mortgage payments, or is worried about a FUTURE payment... don't delay, contact a Homeownership Advisor that specializes in foreclosure today! To learn more, or to contact your local organization, <a href="http://www.hocmn.org/foreclosure-prevention/" target="_blank"><b><span style="color: #cc0000;">click here</span></b></a>.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><i>*DATA UPDATED - The author incorrectly tallied the data for the Twin Cities metro area.</i></span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-87395118572477299872013-06-18T11:30:00.000-05:002013-06-18T11:30:00.591-05:00Celebrate Homeownership Month With Us!<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHwqFoMwYe9Jk3AFFwJOphrlInZO-KLMn6objYWZIviDlwrKOxKm0Lk-P_03NfXx9LRHSWcLj0lJKw_cmw6iEt76DMvpLZwhjtXXX37O7lrErR0vMYqijCaHwLT-qbvsiovZJF2MZEw5mh/s1600/freeImage.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="199" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHwqFoMwYe9Jk3AFFwJOphrlInZO-KLMn6objYWZIviDlwrKOxKm0Lk-P_03NfXx9LRHSWcLj0lJKw_cmw6iEt76DMvpLZwhjtXXX37O7lrErR0vMYqijCaHwLT-qbvsiovZJF2MZEw5mh/s200/freeImage.jpg" width="200" /></a></div>
The <a href="http://www.hocmn.org/" target="_blank"><b><span style="color: #cc0000;">Minnesota Homeownership Center</span></b></a> and the <a href="http://www.hocmn.org/buyingahome/housing-counseling/" target="_blank"><b><span style="color: #cc0000;">Homeownership Advisors Network</span></b></a> are partnering with <a href="http://mnhousing.gov/" target="_blank"><b><span style="color: #cc0000;">Minnesota Housing</span></b>,</a> <a href="http://www.mnrealtor.com/" target="_blank"><b><span style="color: #cc0000;">MN Association of Realtors®</span></b></a>, <a href="http://www.rurdev.usda.gov/mn/" target="_blank"><b><span style="color: #cc0000;">USDA Rural Development</span></b></a> and the <a href="http://mn.gov/commerce/" target="_blank"><b><span style="color: #cc0000;">Minnesota Department of Commerce</span></b></a> to promote homeownership and stabilize Minnesota’s neighborhoods by sponsoring homebuyer education in June.<br />
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In celebration of Homeownership Month in June, the Center is pleased to announce the availability of <b><span style="color: blue;">free homebuyer education</span></b>. This opportunity is available thanks to the generous support of several public and industry partners.<br />
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Quality homebuyer education is the foundation of successful homeownership and is key to stabilizing Minnesota’s neighborhoods. A recent <a href="http://www.nw.org/network/newsroom/netNews030713.asp" target="_blank"><b><span style="color: #cc0000;">study</span></b></a> conducted by Neil Mayer & Associates and the credit bureau Experian found that homeowners that receive pre-purchase education and counseling services are 30% less likely to become seriously delinquent on their mortgage in the first two years after closing.<br />
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In Minnesota, homebuyer education is available online and in-person. Both courses include an in-depth understanding of the homebuying process, how to choose the right home, the importance of credit and good financial management, how a lender determines how much to lend, the importance of working with a real estate professional and the buyer’s rights and responsibilities once they become an owner.<br />
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Free in-person <a href="http://www.hocmn.org/buyingahome/home-stretch-workshop/" target="_blank"><b><span style="color: #cc0000;">Home Stretch Workshops</span></b></a> are available at participating locations throughout the state from June 22-29.<br />
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<a href="http://www.frameworkhomeownership.org/" target="_blank"><b><span style="color: #cc0000;">Framework</span></b></a>, the most comprehensive online homebuyer education course available, will also be free to the first 100 customers who sign-up and use the special coupon code: <b>MNPROMO13 </b><br />
<br />Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-399709299529356975.post-65835603658684072542013-05-24T07:43:00.000-05:002013-05-24T07:43:35.088-05:00Immigration Reform: A Boost for Housing?<span style="font-family: Trebuchet MS, sans-serif;">Recent data shows that the housing market continues to improve here in Minnesota and in many markets throughout the country. The recovery may get an additional boost if the forecasts of the <b><a href="http://nahrep.org/" target="_blank"><span style="color: #cc0000;">National Association of Hispanic Real Estate Professionals</span></a></b> (NAHREP) hold true. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">On May 20th, NAHREP released a <a href="http://nahrep.org/immigration-reform" target="_blank"><b><span style="color: #cc0000;">report</span></b></a> that projects over $500 Billion dollars in spending related to real estate and homeownership spending if Washington passes comprehensive immigration reform for the more than 11 million undocumented immigrants currently living in the US. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">They forecast that up to 3 million of these immigrants could become homebuyers over the next several years with an average home price of about $173,000. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Their reasoning is simple: the options for accessing mortgage loans and lending products for undocumented immigrants are extremely limited. Any legalization of their immigration status would immediately allow these potential buyers to obtain a Social Security number, a requirement for most lending products. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">NAHREP’s projections maybe overstated (it’s impossible to gauge the future intentions of those who are currently out of status in the US) and immigration reform is far from a done-deal in Washington, but the Minnesota Homeownership Center understands the potential boost for housing that legalization would bring. A recent report from the <a href="http://www.usatoday.com/story/money/business/2013/03/06/immigrants-play-big-role-in-housing-demand/1965351/" target="_blank"><b><span style="color: #cc0000;">University of Southern California</span></b></a> found that over one third of the increased demand for homes in this decade has been generated by immigrant buyers. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">The Minnesota Homeownership Center is prepared for a possible influx of new first-time homebuyers:</span><br />
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<ul>
<li><span style="font-family: Trebuchet MS, sans-serif;">Our website contains important information for potential homebuyers and easily allows users to switch quickly between Spanish and English;</span></li>
<li><span style="font-family: Trebuchet MS, sans-serif;">We continue to provide support for Home Stretch workshops (and supplemental materials) in Spanish throughout the State;</span></li>
<li><span style="font-family: Trebuchet MS, sans-serif;">Our online homebuyer education tool, <a href="http://www.frameworkhomeownership.org/" target="_blank"><b><span style="color: #cc0000;">Framework</span></b></a>, will be available in Spanish in the coming months;</span></li>
<li><span style="font-family: Trebuchet MS, sans-serif;">We continue to support and administer the <a href="http://www.hocmn.org/home/column-1/emhi-resources/" target="_blank"><b><span style="color: #cc0000;">Emerging Markets Homeownership Initiative</span></b></a> that brings together industry professionals and non-profit organizations working to improve homeownership rates in communities of color.</span></li>
</ul>
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<span style="font-family: Trebuchet MS, sans-serif;">First-time buyers, citizens and immigrants alike, are reminded that before you start the process of making what may be the LARGEST PURCHASE IN YOUR LIFE, we highly recommend that you participate in a <a href="http://www.hocmn.org/buyingahome/homebuyer-education/" target="_blank"><span style="color: #cc0000;"><b>Home Stretch</b></span></a> workshop or take the online homebuyer course, <a href="http://www.frameworkhomeownership.org/" target="_blank"><b><span style="color: #cc0000;">Framework</span></b></a>. These classes are recognized nationally as a proven tool for preparing Minnesotans to be successful homeowners. These workshops help you to understand, start to finish, the process of becoming a successful homeowner and cover important topics like:</span><br />
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<ul>
<li><span style="font-family: Trebuchet MS, sans-serif;">real estate and mortgage loan terminology, </span></li>
<li><span style="font-family: Trebuchet MS, sans-serif;">how to shop for a home and a loan that are right for YOU, </span></li>
<li><span style="font-family: Trebuchet MS, sans-serif;">how your credit affects your loan payments, </span></li>
<li><span style="font-family: Trebuchet MS, sans-serif;">how to avoid being taken advantage of during the homebuying process, </span></li>
<li><span style="font-family: Trebuchet MS, sans-serif;">and much, much more. </span></li>
</ul>
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<span style="font-family: Trebuchet MS, sans-serif;">For more information about upcoming Home Stretch workshops, click <a href="http://www.hocmn.org/buyingahome/homebuyer-education/" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>. To take Framework online, click <a href="http://www.frameworkhomeownership.org/" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>.</span><br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-40548680367353710492013-05-09T08:32:00.000-05:002013-05-09T08:32:45.857-05:00HECAT RFP Available for Nonprofit Housing Organizations<br />
<span style="font-family: Trebuchet MS, sans-serif;">We've highlighted many times on the @Home blog how our collaborative network approach to homeownership education and counseling in Minnesota is unique. One of key pieces of our successful collaborative approach is that we are the only state in the country with a dedicated pool of funds that provides financial support to eligible non-profit organizations to deliver a variety homebuyer and homeowner services. This dedicated pool is known as <a href="http://www.mnhousing.gov/wcs/Satellite?c=Page&cid=1358906172298&pagename=External%2FPage%2FEXTStandardLayout" target="_blank"><b><span style="color: #cc0000;">HECAT </span></b></a>(The Homeownership Education, Counseling and Training Fund).</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Some of the valuable services that are funded through HECAT include:</span><br />
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<ul>
<li><span style="font-family: Trebuchet MS, sans-serif;">Pre-purchase education and counseling (Home Stretch),</span></li>
<li><span style="font-family: Trebuchet MS, sans-serif;">Post-purchase education and counseling,</span></li>
<li><span style="font-family: Trebuchet MS, sans-serif;">Home equity conversion counseling (Reverse Mortgages) and</span></li>
<li><span style="font-family: Trebuchet MS, sans-serif;">Foreclosure prevention counseling</span></li>
</ul>
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<span style="font-family: Trebuchet MS, sans-serif;">Funds for HECAT come from a public-private partnership of agencies and organizations that are fully invested in ensuring that Minnesotans have access to the education and counseling tools necessary to achieve successful (sustainable) home ownership:</span><br />
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<ul>
<li><span style="font-family: Trebuchet MS, sans-serif;"><a href="http://www.gmhf.com/" target="_blank"><b><span style="color: #cc0000;">Greater Minnesota Housing Fund</span></b></a>,</span></li>
</ul>
<ul>
<li><span style="font-family: Trebuchet MS, sans-serif;"><a href="http://www.mnhousing.gov/" target="_blank"><b><span style="color: #cc0000;">Minnesota Housing</span></b></a> (Finance Agency), and</span></li>
</ul>
<ul>
<li><a href="http://www.hocmn.org/" target="_blank"><b><span style="color: #cc0000; font-family: Trebuchet MS, sans-serif;">Minnesota Homeownership Center</span></b></a></li>
</ul>
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<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">Each of the funding partners not only contribute financial resources they also actively participate in the grant-making process and provide technical assistance throughout the year. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">The Request for Proposal (RFP) for funding for programs in 2013 and 2014 (funding year runs from October 1st through September 30th) is <b><span style="color: blue;">NOW OPEN</span></b>. The deadline for applications is 3:00pm on Monday, June 10th. <i>This is a STRICT deadline.</i></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><b>Submission of Applications: </b>This year, nonprofits that are interested in applying for the HECAT RFP, must submit their applications both electronically and a hard copy via mail/dropoff before the deadline. A <a href="http://www.mnhousing.gov/wcs/Satellite?blobcol=urldata&blobheadername1=Content-Type&blobheadername2=Content-Disposition&blobheadername3=MDT-Type&blobheadervalue1=application%2Fpdf&blobheadervalue2=inline%3B+filename%3D368%5C946%5Cmhfa_1012313.pdf&blobheadervalue3=abinary%3B+charset%3DUTF-8&blobkey=id&blobtable=MungoBlobs&blobwhere=1361480258241&ssbinary=true" target="_blank"><b><span style="color: #cc0000;">Box.com account</span></b></a> is required for the electronic upload and it is HIGHLY recommended that you open an account well before the deadline to avoid possible issues. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">For more information about HECAT, or to view the RFP and even lists of award recipients from previous years, visit the Minnesota Housing website... <a href="http://www.mnhousing.gov/wcs/Satellite?c=Page&cid=1358906172298&pagename=External%2FPage%2FEXTStandardLayout" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>.</span><br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-36028939403343465002013-05-01T07:01:00.000-05:002013-05-01T07:01:00.062-05:00Uptick in Preforeclosure Notices: Blip or Trend?<span style="color: #9fc5e8; font-family: Trebuchet MS, sans-serif;"><b>A mixed-bag for foreclosures in Minnesota</b></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">On Wednesday, May 1st, the Minnesota Homeownership Center released its first quarter data on the aggregate number of <b><i>Preforeclosure Notices</i></b> received by foreclosure prevention specialists in the Homeownership Advisors Network. The numbers send some mixed messages. Overall… it’s something that we’ll need to track carefully over the coming quarters. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">In the first quarter of 2013, members of the Homeownership Advisors Network received 9,291 preforeclosure notices, <b><span style="color: blue;">23% fewer</span></b> than during the same time period in 2012, but a somewhat troubling <b><span style="color: blue;">34% increase</span></b> from the number received in the Fourth Quarter of 2012. </span><br />
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The Twin Cities Metro area also saw a similar situation with their preforeclosure notice numbers… down Year-Over-Year (<b><span style="color: blue;">-34.5%</span></b>) while up from the fourth quarter of 2012 to the first quarter of 2013 (<b><span style="color: blue;">+25.1%</span></b>).<br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhIaeRZWCYscj7KvkBNu0OyncycWpnnUZgZ1a8JF7bV6uYRIpE3iETF0OxUh_Da-i-YkR64oI99q6q42dQYTy9fn1VjFuDnyd0qhegoVMiAPsdrMQMDwksQNmutSJeoErYt_9ZeaTOHGmBW/s1600/Image3_MetroLineGraph.JPG" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="203" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhIaeRZWCYscj7KvkBNu0OyncycWpnnUZgZ1a8JF7bV6uYRIpE3iETF0OxUh_Da-i-YkR64oI99q6q42dQYTy9fn1VjFuDnyd0qhegoVMiAPsdrMQMDwksQNmutSJeoErYt_9ZeaTOHGmBW/s400/Image3_MetroLineGraph.JPG" width="400" /></a></td></tr>
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Interestingly… there was a WIDE variance in the year-over-year comparison of preforeclosure notices received by homeowners in the Twin Cities Metro:<br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhySV8bSvi0K8jHrJ7z1miC1Gnl0Fve-XSwBZpfolanZcmv_kV7wlgJezOQ2iJD26KpE26gvwUbWxc1qZizx8Q7DNyg0OvYa0VT4sRlZquHQCbpZvW5mtiVAEL5JbCkTVX626sJbbgRlLiY/s1600/Image4_MetroChartWithCallouts.JPG" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhySV8bSvi0K8jHrJ7z1miC1Gnl0Fve-XSwBZpfolanZcmv_kV7wlgJezOQ2iJD26KpE26gvwUbWxc1qZizx8Q7DNyg0OvYa0VT4sRlZquHQCbpZvW5mtiVAEL5JbCkTVX626sJbbgRlLiY/s400/Image4_MetroChartWithCallouts.JPG" width="352" /></a></td></tr>
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Suburban Hennepin County homeowners received less than <b><span style="color: blue;">HALF </span></b>the number of preforeclosure notices in the first quarter of 2013 than they received in the first quarter of 2012. However, <b><span style="color: blue;">20% MORE</span></b> Ramsey County residents received a preforeclosure notice when we compare the same time period. <br />
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While most Metro counties overall saw generous declines in the number of struggling homeowners… Anoka County bucked that trend and 44 more households received a notice in the first quarter of 2013 than in the same quarter in 2012. (A 4% increase).<br />
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<b><i>One quarter of data does NOT make a trend. We’ll keep monitoring these numbers carefully over the coming quarters to see if a trend develops.</i></b><br />
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We certainly don’t want to sound like a broken record… but it’s also important to keep in mind that while the <b>overall </b>trend of preforeclosure notices continues to head in the right direction… the numbers signify that almost 10,000 Minnesota families continue to fall behind in mortgage payments. Tens of thousands more are surely struggling to make mortgage payments and will continue to need the foreclosure prevention services provided by the Minnesota Homeownership Center and the Homeownership Advisors Network.<br />
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If you, or someone you know, is struggling with to keep up with their mortgage payments, or is worried about a FUTURE payment... don't delay, contact a Homeownership Advisor that specializes in foreclosure today! To learn more, or to contact your local organization, <a href="http://www.hocmn.org/foreclosure-prevention/" target="_blank"><b><span style="color: #cc0000;">click here</span></b></a>.<br />
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</span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-12257720726937513722013-04-25T07:30:00.000-05:002013-04-25T07:30:01.500-05:00Minneapolis Homeownership and Banking Fair is Saturday<br />
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<span style="font-family: 'Trebuchet MS', sans-serif;">At the </span><a href="http://www.hocmn.org/" style="font-family: 'Trebuchet MS', sans-serif;" target="_blank"><b><span style="color: #cc0000;">Minnesota Homeownership Center</span></b></a><span style="font-family: 'Trebuchet MS', sans-serif;">, we understand the importance of home. We love helping people get into homeownership – and stay there –especially when we can help turn first-time homebuyers into long-term successful homeowners. That’s why we’re so excited about an upcoming event we’re planning with the </span><a href="http://www.ci.minneapolis.mn.us/" style="font-family: 'Trebuchet MS', sans-serif;" target="_blank"><b><span style="color: #cc0000;">City of Minneapolis</span></b></a><span style="font-family: 'Trebuchet MS', sans-serif;"> and a number of non-profit homeownership educators, housing developers, and lenders.</span><br />
<br />
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<span style="font-family: Trebuchet MS, sans-serif;">The <a href="http://mplshomeownershipfair.eventbrite.com/" target="_blank"><b><span style="color: #cc0000;">Minneapolis Homeownership and Banking Fair</span></b></a> will be held on Saturday, April 27th from 9am to 2pm (Open House) in Studio 185 of International Market Square. This event will share information about programs available in Minneapolis, St. Paul and the Twin Cities metro area. <i><b><span style="color: blue;">We hope you’ll join us!</span></b><span style="color: #0b5394;"> </span></i></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">This fair is designed to be a one-stop shop for homebuyers and homeowners – you can learn about available down payment programs, meet with lenders, and explore whether homeownership is right for you. Stop by on your way to the <a href="http://msphometour.com/" target="_blank"><b><span style="color: #cc0000;">Minneapolis and St. Paul Home Tour</span></b></a>, and you’ll be able to search for your dream home (or dream kitchen remodel) with newfound confidence that you’re making informed decisions!</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">More than 20 organizations will be at the event including: Bank of America, Build Wealth Minnesota, BMO Harris Bank, City of Lakes Community Land Trust, Greater Metropolitan Housing Corporation, Hmong American Partnership, Metropolitan Consortium of Community Developers, Minneapolis Area Association of REALTORS, Minnesota Housing, Neighborhood Housing Service of Minneapolis, Neighborhood Development Alliance, PRG, Inc., TCF Bank, Twin Cities Habitat for Humanity, US Bank, Wells Fargo. <span style="color: blue;"><b><i>Best of all, this event is free and open to everyone.</i></b> </span></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Take advantage of this unique opportunity to get your banking, lending, homeownership questions answered. We’ll bring the coffee. <i>See you there!</i></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Give us a call to learn more (651) 659-9336 Ext. 108 or laura@hocmn.org. You can also check out our <a href="http://mplshomeownershipfair.eventbrite.com/" target="_blank"><b><span style="color: #cc0000;">event page</span></b></a>.</span><br />
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Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-399709299529356975.post-88730261913243379702013-04-02T09:05:00.000-05:002013-04-02T09:31:53.766-05:00Independent Foreclosure Review Payments to Begin Shortly<br />
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<span style="color: #999999; font-family: Trebuchet MS, sans-serif; font-size: small;">Consumers are warned to be careful!</span></h3>
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: 'Trebuchet MS', sans-serif;">At the end of March, Rust Consulting, the private contractor hired by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board to oversee applications and payments for the Independent Foreclosure Review began mailing postcards to 4.2 million homeowners. These postcards officially notify these consumers that they will be receiving IFR settlement payments. The payments themselves will be mailed in the next four to eight weeks.</span><br />
<span style="font-family: 'Trebuchet MS', sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">For more information about IFR, view some of our previous blog posts, <b><span style="color: #cc0000;">here </span></b>and <a href="http://hocmn.blogspot.com/2012/03/postcard-independent-foreclosure-review.html" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>.</span><br />
<b style="font-family: 'Trebuchet MS', sans-serif;"><br /></b>
<span style="color: blue;"><b style="font-family: 'Trebuchet MS', sans-serif;">DON’T BECOME A VICTIM OF A SCAM</b><span style="font-family: 'Trebuchet MS', sans-serif;">.</span></span><br />
<span style="font-family: 'Trebuchet MS', sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">Scam artists are ALWAYS looking to prey on consumers. If you receive a postcard, make sure that the information is coming from Rust Consulting, that the phone number on the card is 1-888-952-9105, and that the website to visit is one of the following: </span><br />
<br />
<ul>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">The Office of the Comptroller of the Currency (OCC: http://www.occ.gov/independentforeclosurereview), </span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">The Federal Reserve Board (http://www.federalreserve.gov/consumerinfo/independent-foreclosure-review-payment-agreement.htm), or</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">The Independent Foreclosure Review (http://independentforeclosurereview.com/). <br /><br /><b><span style="color: blue;"><i>Any other solicitation may be a scam!</i></span></b></span></li>
</ul>
<br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;"><b>DO NOT PAY TO GET HELP:</b></span><br />
<br />
<ul>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">No one has to pay a fee to receive payment through the IFR.</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">No one can ‘help you get more money’ as the amount of the payment has been decided by federal regulators. The amount cannot be negotiated.</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">The opportunity to request an independent foreclosure review is OVER. If you were not on the regulators and the servicers lists – the deadline to apply was December 31, 2012 – paying someone will NOT get you added to the list.</span></li>
</ul>
<br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">For additional information, visit the Frequently Asked Questions page on the independent foreclosure review website, <a href="https://independentforeclosurereview.com/" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>.</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="color: purple; font-family: Trebuchet MS, sans-serif;"><b>NOTE:</b></span><br />
<span style="font-family: Trebuchet MS, sans-serif;">The most recent postcards ONLY cover settlements with 27 major servicers. (Click <b><span style="color: #cc0000;"><a href="https://independentforeclosurereview.com/settled.aspx" target="_blank">here</a> </span></b>for a complete list). There are still 3 major servicers that have not settled:</span><br />
<br />
<ul>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Ally (GMAC Mortgage), </span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Everbank, and </span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">OneWest Bank (IndyMac).</span></li>
</ul>
<br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">If you have questions regarding the Independent Foreclosure Review or any mailing you receive about IFR, please contact a <a href="http://www.hocmn.org/foreclosure-prevention/find-a-foreclosure-counselor/" target="_blank"><b><span style="color: #cc0000;">Homeownership Advisor</span></b></a> in your area. </span><br />
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<span style="background-color: white; color: #222222; font-family: 'Trebuchet MS', sans-serif; line-height: 20px;">If you, or someone you know is struggling with mortgage payments... visit </span><a href="http://www.hocmn.org/" style="background-color: white; color: #888888; font-family: 'Trebuchet MS', sans-serif; line-height: 20px; text-decoration: none;"><b><span style="color: #cc0000;">www.hocmn.org</span></b></a><span style="background-color: white; color: #222222; font-family: 'Trebuchet MS', sans-serif; line-height: 20px;"> or call the Minnesota Homeownership Center at 866-462-6466 today! <b><i>Waiting limits your options!</i></b></span><br />
<div>
<br /></div>
Unknownnoreply@blogger.com5tag:blogger.com,1999:blog-399709299529356975.post-7490098577848655472013-03-20T07:42:00.000-05:002013-03-20T07:42:43.080-05:00Foreclosure Counseling Has Saved Minnesota Billions of Dollars<h4>
<b style="background-color: white; color: #999999; font-family: 'trebuchet ms', helvetica, sans-serif;">26,000 homeowners avoid foreclosure thanks to Homeownership Advisors Network since 2008</b></h4>
<span style="background-color: white; font-family: 'Trebuchet MS';"><br /></span>
<span style="background-color: white; font-family: 'Trebuchet MS';">The Minnesota Homeownership Center has released its Foreclosure Counseling report for 2012. </span><br />
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<div style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: black;">This report provides a summary of demographic and outcome data from the foreclosure prevention counseling program provided by the Center's Homeownership Advisors Network.</span></div>
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<br /></div>
<div style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: black;">Almost 6,000 Minnesota households availed themselves of free foreclosure prevention services last year, bringing the total to almost 70,000 households since the crisis began. </span></div>
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<br /></div>
<div style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: black;">Most importantly, more than 26,000 households successfully avoided foreclosure on their home since 2008.</span></div>
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<br /></div>
<div style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: black;">According to the Joint Economic Committee of the U.S. Congress, the average cost of a single foreclosure is $78,000<strong>:</strong></span></div>
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<br /></div>
<ul style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS';">
<li><span style="color: black;">$50,000 – Lenders (recent Standard & Poor’s study breaks this down)</span></li>
<li><span style="color: black;">$19,227 - Local government – shrinking tax base, property maintenance, utility cancellations, policing.</span></li>
<li><span style="color: black;">$1,508 - Neighbors – (decrease in home value, home is harder to sell or refinance.)</span></li>
<li><span style="color: black;">$7,200 - Homeowner – (loss of equity, moving expenses, legal fees, etc.)</span></li>
</ul>
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<br /></div>
<h3>
<strong><span style="color: #a81e45;">This means that, thanks to the extraordinary efforts of the Center’s Homeownership Advisors network… foreclosure counseling has saved Minnesota (lenders, municipalities and communities) over $2 Billion. </span></strong></h3>
<div style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS';">
<br /></div>
<div style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: black;">Even more extraordinary is the fact that, according to our most recent cost survey, conducted by the Federal Reserve Bank of Minneapolis, <span style="color: blue;"><strong>foreclosure counseling costs, on average, just $400 per household.</strong></span></span></div>
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<br /></div>
<div style="background-color: white; font-family: 'Trebuchet MS';">
<br /><strong>To view the full report, visit the Center's website, <a href="http://www.hocmn.org/reports-resources/foreclosure-prevention-reports/" target="_blank"><span style="color: #cc0000;">here</span></a>:</strong></div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-46981967696066067462013-03-20T07:39:00.002-05:002013-03-20T07:39:16.266-05:00Foreclosure Prevention Starts Before the Mortgage Is Even Signed<br />
<h2>
<span style="color: #666666; font-size: small;"><b style="font-family: 'Trebuchet MS', sans-serif; line-height: 18px;">Homebuyer education dramatically decreases probability of delinquency</b><b> </b></span></h2>
<div>
<div style="background-color: white; font-family: 'Trebuchet MS';">
New <span style="color: #cc0000;"><strong><a data-cke-saved-href="http://www.nw.org/network/newsroom/netNews030713.asp" href="http://www.nw.org/network/newsroom/netNews030713.asp">research</a></strong> </span>from NeighborWorks America conducted by Neil Mayer & Associates and the credit bureau Experian finds that homeowners that receive pre-purchase education and counseling services, like those offered by the Homeownership Advisors Network in Minnesota, are <span style="color: #a81e45;"><strong>30% less likely to become seriously delinquent</strong></span> on their mortgage in the first two years after closing.</div>
<div style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS';">
<br /></div>
<div style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: black;">The study looked at over 75,000 mortgages originated between 2007 and 2009 to see the effect pre-purchase education and counseling services had on the probability of a loan becoming seriously delinquent in the first 24 months:</span></div>
<div style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS';">
<br /></div>
<div style="background-color: white; color: #7f7f7f; font-family: 'Trebuchet MS'; text-align: center;">
<img align="" alt="" data-cke-saved-src="https://staticapp.icpsc.com/icp/loadimage.php/mogile/213261/ee7df8715272aae05830961748f6f620/image/jpeg" src="https://staticapp.icpsc.com/icp/loadimage.php/mogile/213261/ee7df8715272aae05830961748f6f620/image/jpeg" style="border: 0px solid rgb(127, 127, 127); display: inline; margin: 0px;" /></div>
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<br /></div>
<div style="background-color: white;">
<div style="color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: black;"><br /></span></div>
<div style="color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: black;">The research shows that the investment the Minnesota Homeownership Center has made in homebuyer services over the last 20 years helped lessen the effects of the foreclosure crisis on Minnesota.</span></div>
<div style="color: #7f7f7f; font-family: 'Trebuchet MS';">
<br /></div>
<div style="font-family: 'Trebuchet MS';">
<span style="color: black;">In the last ten years alone, almost 50,000 households have graduated from Home Stretch. Thanks to the knowledge they received in Home Stretch, hundreds of homeowners avoided falling seriously delinquent on their mortgage. For more information on Home Stretch, check out our most recent Homebuyer Services report, </span><strong><a data-cke-saved-href="http://www.hocmn.org/wp-content/uploads/2012/07/HomeStretchReport2012_LowerResImg.pdf" href="http://www.hocmn.org/wp-content/uploads/2012/07/HomeStretchReport2012_LowerResImg.pdf"><span style="color: #cc0000;">here</span></a></strong><span style="color: #333333;">.</span></div>
<div style="color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: #333333;"><br /></span></div>
<div>
<span style="font-family: Trebuchet MS, sans-serif;">NOW... Minnesota homebuyers have the option of completing this important workshop in person (<a href="http://www.hocmn.org/buyingahome/home-stretch-workshop/" target="_blank"><b><span style="color: #cc0000;">Home Stretch</span></b></a>) or ONLINE via <a href="http://www.hocmn.org/buyingahome/framework/" target="_blank"><b><span style="color: #cc0000;">Framework</span></b></a>. Framework is <span style="line-height: 18px;">a high quality, interactive way to learn how to be a smart, confident and successful homeowner, FRAMEWORK provides the facts you need to become well-informed about every step in the process.</span></span></div>
<div style="color: #7f7f7f; font-family: 'Trebuchet MS';">
<br /></div>
<div style="color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: black;">In addition, the <em>Bipartisan Policy Center’s Housing Commission</em> recently reiterated the important value of quality housing counseling. According to the report, <em>Housing America’s Future</em>, ‘…housing counseling can improve prospective borrowers’ access to affordable, prudent mortgage loans, especially for families that otherwise might not qualify or who may experience other barriers to mainstream lending.’</span></div>
<div style="color: #7f7f7f; font-family: 'Trebuchet MS';">
<span style="color: black;"><br /></span></div>
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<div style="color: #7f7f7f; font-family: 'Trebuchet MS'; text-align: center;">
<strong><span style="color: blue;">Better access to quality loans, fewer delinquencies.<br />That’s why we support homebuyer services in Minnesota.</span></strong></div>
</div>
</div>
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</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-60248816511704222322013-03-11T10:32:00.000-05:002013-03-11T11:47:09.887-05:00Foreclosure Prevention Counseling in Minnesota<br />
<span style="font-family: Trebuchet MS, sans-serif;">The Minnesota Homeownership Center has released its Foreclosure Counseling report for 2012. </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">This report provides a summary of findings from an evaluation of the foreclosure prevention counseling program provided by the Center's Homeownership Advisors Network. </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">In Minnesota, local, free foreclosure counseling services are provided to ANY homeowner through a network of about 25 different non-profits, governmental, tribal and social service agencies throughout the state.</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">The report summarizes household and loan characteristics, service usage, and outcomes for homeowners receiving foreclosure counseling during the past twelve months. </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">The complete report is available online at the Center's website, <a href="http://www.hocmn.org/reports-resources/foreclosure-prevention-reports/" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>.</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="color: blue; font-family: Trebuchet MS, sans-serif;"><b><i>Here are a few highlights from the report:</i></b></span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFYVhsTJ3p_sjdb_Zlx_U_MfQ_DRkcTdNvA4J0sgxGCY37MkPOj1Mnm56ubyKdDQQT61GMIDsr3C7CG8cDcxbAXPsi0XUYUmtTpL0fMnV6e4_0vQxMSVGQOtrOgRxYTa5VkxvfKkabpphH/s1600/HouseholdsCounseled.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="91" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFYVhsTJ3p_sjdb_Zlx_U_MfQ_DRkcTdNvA4J0sgxGCY37MkPOj1Mnm56ubyKdDQQT61GMIDsr3C7CG8cDcxbAXPsi0XUYUmtTpL0fMnV6e4_0vQxMSVGQOtrOgRxYTa5VkxvfKkabpphH/s400/HouseholdsCounseled.JPG" width="400" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: 'Trebuchet MS', sans-serif;">5,947 households received foreclosure counseling services in 2012, </span></div>
<span style="font-family: 'Trebuchet MS', sans-serif;"></span><br />
<div style="text-align: center;">
<span style="font-family: 'Trebuchet MS', sans-serif;">a decrease of 41% from 2011. </span></div>
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</span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhy1aDRtyJGSLT1M2jo5si78ZCm8H5FpAR4urn-tFBppkPIx1IM63xeknc2vhR-KzUR3lO9f4aEgXe7fGlYdNFmBCie_NcxMbQZw1VPCd_aSn9yGq0lq4-2sdVV6Ptirbf-yPDbUbYkuPZJ/s1600/ForeclosuresAvoided.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="143" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhy1aDRtyJGSLT1M2jo5si78ZCm8H5FpAR4urn-tFBppkPIx1IM63xeknc2vhR-KzUR3lO9f4aEgXe7fGlYdNFmBCie_NcxMbQZw1VPCd_aSn9yGq0lq4-2sdVV6Ptirbf-yPDbUbYkuPZJ/s320/ForeclosuresAvoided.JPG" width="320" /></a></div>
<div style="text-align: center;">
<span style="font-family: Trebuchet MS, sans-serif;">47% of households receiving counseling services in 2012 </span></div>
<div style="text-align: center;">
<span style="font-family: Trebuchet MS, sans-serif;">were able to avoid foreclosure. </span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4-tjjHqvFIKjqmMPFXNhH033XEIr-TQEwQubIehaKpOr6rpbjmf5xbfNICHJfqG9VoNpBNX4uK5eQ2gI1cf0nV0TIj4SLDk7rAEIEPihxpbO352pUb-9R-ljdxFAFgU07zmEiA1rZD4fX/s1600/30PercentPlus_MortgagePayments.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="123" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4-tjjHqvFIKjqmMPFXNhH033XEIr-TQEwQubIehaKpOr6rpbjmf5xbfNICHJfqG9VoNpBNX4uK5eQ2gI1cf0nV0TIj4SLDk7rAEIEPihxpbO352pUb-9R-ljdxFAFgU07zmEiA1rZD4fX/s400/30PercentPlus_MortgagePayments.JPG" width="400" /></a></div>
<div style="text-align: center;">
<span style="font-family: 'Trebuchet MS', sans-serif;">3 out of 5 households had mortgage payments that </span></div>
<div style="text-align: center;">
<span style="font-family: Trebuchet MS, sans-serif;">were more than 30% of their income </span></div>
<div style="text-align: center;">
<span style="font-family: Trebuchet MS, sans-serif;">(the traditional benchmark of mortgage affordability).</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbKgvwAX6m4QQhComBubQqYbtEiwRLfx04WHMJ5A1DS9jkr-DyyhGSMZHakp8pOLYM_v_4_vfbN3WIowjLxLb_5fKxMG3j9smdw0-maJrLxHOx9uP5VmsgVJvZXOBNoC9hGN4c3rpfW94r/s1600/LossOfIncome.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="124" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbKgvwAX6m4QQhComBubQqYbtEiwRLfx04WHMJ5A1DS9jkr-DyyhGSMZHakp8pOLYM_v_4_vfbN3WIowjLxLb_5fKxMG3j9smdw0-maJrLxHOx9uP5VmsgVJvZXOBNoC9hGN4c3rpfW94r/s320/LossOfIncome.JPG" width="320" /></a></div>
<div style="text-align: center;">
<span style="font-family: 'Trebuchet MS', sans-serif;">More than half of households served fell behind in their mortgage </span></div>
<div style="text-align: center;">
<span style="font-family: 'Trebuchet MS', sans-serif;">due to a loss or reduction in income.</span></div>
<br />
<br />
<span style="font-family: Trebuchet MS, sans-serif;">If you, or someone you know, is struggling with to keep up with their mortgage payments, or is worried about a FUTURE payment... don't delay, contact a Homeownership Advisor that specializes in foreclosure today! To learn more, or to contact your local organization, click <a href="http://www.hocmn.org/foreclosure-prevention/find-a-foreclosure-counselor/" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>.</span><br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-44424704169805032472013-02-14T07:00:00.000-06:002013-02-14T07:00:03.271-06:00Lowest Number of Foreclosures Since 2006<span style="color: #999999; font-family: Trebuchet MS, sans-serif;"><b>17,895 homes sold at Sheriff’s Sale in Minnesota in 2012</b></span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5SI0dpTDoLMHIZvi3V0651qZQHYV7QlmTHn-sd6v-VoyGvh7KHnK6b5e9hi3eJE4xhk_hl0cTEZj9lDa33hpmoFZii1rVfxA50DGLjY9dWVibqu_5qRG7jGEsds1NkHHobs0MC6MxioNW/s1600/Image_2012SheriffsSales.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="164" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5SI0dpTDoLMHIZvi3V0651qZQHYV7QlmTHn-sd6v-VoyGvh7KHnK6b5e9hi3eJE4xhk_hl0cTEZj9lDa33hpmoFZii1rVfxA50DGLjY9dWVibqu_5qRG7jGEsds1NkHHobs0MC6MxioNW/s320/Image_2012SheriffsSales.JPG" width="320" /></a></div>
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<span style="font-family: 'Trebuchet MS', sans-serif; font-size: 11pt; line-height: 15pt;">The Minnesota Homeownership Center has just released its latest report on the number of foreclosures - as counted by completed Sheriffs' Sales - for every county in Minnesota.</span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif; font-size: 11pt; line-height: 15pt;">The report, titled “Foreclosures in Minnesota,” identified a total
of 17,895 foreclosures in Minnesota in 2012, <b><span style="color: blue;">a decrease of 16% from 2011.</span></b></span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: 11pt; line-height: 15pt;"><b><span style="color: blue;"> </span></b></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif; font-size: 11pt; line-height: 15pt;"><b>You can view the full report, <a href="http://www.hocmn.org/wp-content/uploads/2013/02/ForeclosuresInMinnesota_YearEnd_2012.pdf" target="_blank"><span style="color: #cc0000;">here</span></a>.</b></span></h3>
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<span style="font-family: 'Trebuchet MS', sans-serif; font-size: 11pt; line-height: 15pt;">“We continue to see improvement in the housing market and we know
that our foreclosure prevention efforts in Minnesota, combined with
improvements in how banks and lenders deal with struggling homeowners are
having a positive impact on the number of foreclosures,” stated Julie Gugin,
Executive Director of the Minnesota Homeownership Center. “While we’re
certainly moving in the right direction, we can’t lose sight of the fact that
the number is still three times higher than it was before the crisis began. ”</span></div>
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<span style="font-size: 11pt;"><span style="font-family: Trebuchet MS, sans-serif;">Struggling homeowners are encouraged to seek help from a certified
foreclosure prevention specialist that is a member of the Homeownership
Advisors Network as soon as possible. </span></span></div>
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<span style="font-size: 11pt;"><span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: blue;">Waiting limits a homeowners options.</span> </b> If you, or someone you know is struggling with mortgage payments... visit <a href="http://www.hocmn.org/"><b><span style="color: #cc0000;">www.hocmn.org</span></b></a> or call
the Minnesota Homeownership Center at 866-462-6466. <o:p></o:p></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgesLy5Uk5JkVTfEG6Q9BzgHc5kyTC_aAKgHQXVFQMCyJUArIQCT7ef-wvlZzLg8hMZ1uZyGcv5fyEy9XJbge3-Kx9mVKNrXEqf-RJWCWTrdIYk3n225PP87NYHCasDKYLoNxrGV5s6RLT5/s1600/2013Logo_LowRes.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="144" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgesLy5Uk5JkVTfEG6Q9BzgHc5kyTC_aAKgHQXVFQMCyJUArIQCT7ef-wvlZzLg8hMZ1uZyGcv5fyEy9XJbge3-Kx9mVKNrXEqf-RJWCWTrdIYk3n225PP87NYHCasDKYLoNxrGV5s6RLT5/s200/2013Logo_LowRes.JPG" width="200" /></a></div>
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<span style="font-family: 'Trebuchet MS', sans-serif; font-size: 11pt; line-height: 15pt;">Founded in 1993, the Minnesota Homeownership Center is celebrating
20 years of promoting successful homeownership throughout the state and has
been one of the state’s primary responders to the foreclosure crisis. </span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-83670413838319254852013-01-31T08:59:00.000-06:002013-01-31T08:59:21.202-06:00Leading Minnesota Home for 20 Years<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgesLy5Uk5JkVTfEG6Q9BzgHc5kyTC_aAKgHQXVFQMCyJUArIQCT7ef-wvlZzLg8hMZ1uZyGcv5fyEy9XJbge3-Kx9mVKNrXEqf-RJWCWTrdIYk3n225PP87NYHCasDKYLoNxrGV5s6RLT5/s1600/2013Logo_LowRes.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><span style="font-family: Trebuchet MS, sans-serif;"><img border="0" height="144" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgesLy5Uk5JkVTfEG6Q9BzgHc5kyTC_aAKgHQXVFQMCyJUArIQCT7ef-wvlZzLg8hMZ1uZyGcv5fyEy9XJbge3-Kx9mVKNrXEqf-RJWCWTrdIYk3n225PP87NYHCasDKYLoNxrGV5s6RLT5/s200/2013Logo_LowRes.JPG" width="200" /></span></a><span style="color: #999999; font-family: Trebuchet MS, sans-serif;"><b>A New Website to Celebrate our Anniversary</b></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">2013 is a special year for the Minnesota Homeownership Center and we've already started the festivities! Founded in 1993, the Center is celebrating 20 years of promoting successful and sustainable homeownership throughout the state. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><a href="http://www.hocmn.org/" target="_blank"><b><span style="color: #cc0000;">Our first endeavor for this year is a complete overhaul of our website.</span></b></a> </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">We've updated with a simplified interface, new materials and tons of resources for both consumers and professionals, switching from English to Spanish at the click of a button and incorporating many new tools to simplify how users find and share the valuable information on our website.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><a href="http://www.hocmn.org/" target="_blank"><img border="0" height="192" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKUHG38ku1AFqUbfEtuBrhCeoJIY95KWfGcHxGWIASXWs5qoT4m5NloT9a3anp6PT86VOJHUnMddA0__stQZTge_8U3ULYKJscV16YiIJ1X38Gkr_YL2zqYLB7025-Y6PD9wkCYD-w_q5K/s200/MainPage2.jpg" width="200" /></a> <a href="http://www.hocmn.org/" target="_blank"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivrJYtWTF2nmFtph9VLfwOiNGn2IK0obZ9MRQUIoLMpG3E03lj_pTy-ggj_KMWzpi19P1XVus1YRwOCh9KKb5VlDqoPfRbqw3ZjHv9VswFHSDvgQI36iqzFEV1RGxEv5vPgP5d8TH_ChSZ/s200/ForeclosurePage2.jpg" width="173" /></a></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Visit our website here: <b><span style="color: #cc0000;">www.hocmn.org</span></b> to see more!</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Over the past two decades, we've been on the cutting edge of homebuyer education, homeownership support and foreclosure prevention and we’ll be communicating with you throughout the year as we release additional tools, resources and fun materials celebrating our anniversary year. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><b><i><span style="color: blue;">Stay tuned! </span></i></b> </span><br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-16635578280839088782013-01-22T15:20:00.000-06:002013-01-22T15:20:14.684-06:00Dramatic Drop in Preforeclosure Notices<b><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; font-size: 11pt; line-height: 115%;"><span style="color: #999999; font-family: Trebuchet MS, sans-serif;">Another good
sign for Minnesota's Housing Market</span></span></b><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="font-size: 15px; line-height: 17px;">On Tuesday, January 22nd, the Minnesota Homeownership Center released its year-end data on the aggregate number of Preforeclosure Notices received by foreclosure counselors in the Homeownership Advisors Network. The numbers continue to show almost universal good news about the future of foreclosures in Minnesota. </span></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="font-size: 15px; line-height: 17px;">In the fourth quarter of 2012, members of the Homeownership Advisors Network received only 6,937 preforeclosure notices, <b><span style="color: blue;">45% fewer</span></b> than during the same time period in 2011, reaching the lowest level reported since the state legislature required the notices in late 2008:</span></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="font-size: 15px; line-height: 17px;">In total, Minnesota households received 28% fewer preforeclosure notices in 2012 than they did in 2011. In addition, the preforeclosure notices are down just as dramatically in the Twin Cities Metro as well:</span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="font-size: 15px; line-height: 17px;">The City of St. Paul seems to be the ONLY location where notices have not dramatically decreased. We'll keep our eye on these numbers to see if the quarter four data is an anomaly or a sign of a deeper issue. </span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="font-size: 15px; line-height: 17px;">While it is encouraging that the numbers of preforeclosure notices received is down to the the lowest level since we started tracking these numbers, we can't lose sight of the fact that almost </span><b style="font-size: 15px; line-height: 17px;">40,000 Minnesota households continued to struggle with their mortgage payments in 2012.</b></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222; line-height: 18px;">If you're struggling with mortgage payments... you're not alone. Thousands of others are also struggling. More importantly, Minnesota has a statewide network of non-profit organizations that can help YOU put a plan in place to avoid foreclosure. Last year, more than half of the people who sought out our services were able to avoid foreclosure. Don't delay, </span><b><a href="http://www.hocmn.org/" target="_blank"><span style="color: #cc0000;">contact us today</span></a><span style="color: #cc0000;">.</span></b><span style="line-height: 17px;"> </span></span></div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-12312420618202629002013-01-09T08:38:00.000-06:002013-01-09T08:38:08.674-06:00FRAMEWORK: Online Homebuyer Education...And Your Clients<br />
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<span style="color: #6fa8dc; font-family: Trebuchet MS, sans-serif;"><b>Better buyers, faster closings, stronger communities. Framework™</b><b> puts homeownership on a solid foundation</b></span></h3>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3-aO0RSrJKOK2u9BDNw3gieBLP4v4gTGne35gBSGXK6DW9-g6KJUPrEDepdPn_Cduihz-clskMEWDew1D97kjsQ17cmbPbL_vZf4bUXnWjkIPSRmaYAcrkf7BKsuZSGjF_guLtErSJh7Z/s1600/6+Cost+Effective.PNG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><span style="font-family: Trebuchet MS, sans-serif;"><img border="0" height="155" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3-aO0RSrJKOK2u9BDNw3gieBLP4v4gTGne35gBSGXK6DW9-g6KJUPrEDepdPn_Cduihz-clskMEWDew1D97kjsQ17cmbPbL_vZf4bUXnWjkIPSRmaYAcrkf7BKsuZSGjF_guLtErSJh7Z/s200/6+Cost+Effective.PNG" width="200" /></span></a></div>
<span style="font-family: Trebuchet MS, sans-serif;">In late 2012, the <a href="http://www.hocmn.org/" target="_blank"><b><span style="color: #cc0000;">Minnesota Homeownership Center</span></b></a>, working with the <a href="http://www.housingpartnership.net/" target="_blank"><b><span style="color: #cc0000;">Housing Partnership Network</span></b></a>, began the release of Framework™, the most comprehensive online educational tool available to first-time homebuyers. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">At the Center, we know that informed buyers are successful homeowners... and YOU can help you clients succeed by working with us to promote Framework™ to your friends, families and clients.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">During the month of January, the Minnesota Homeownership Center will be hosting a series of FREE webinars for professionals interested in learning more about this groundbreaking new online tool.</span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEcUO-Hu5bPW2nnugwu1JWlir9W_ZCYfV_qVgDMxjv6SmOpba5oS2-YTpKJqGacOtF2wz2lxST5FCmLjQXL7L4D9ev60Q3rO44Rit1kMuQRzJNJL-hdfvu3BAcUzy2mMG83BkM0LhgQDmH/s1600/4+Easy.PNG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><span style="font-family: Trebuchet MS, sans-serif;"><img border="0" height="154" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEcUO-Hu5bPW2nnugwu1JWlir9W_ZCYfV_qVgDMxjv6SmOpba5oS2-YTpKJqGacOtF2wz2lxST5FCmLjQXL7L4D9ev60Q3rO44Rit1kMuQRzJNJL-hdfvu3BAcUzy2mMG83BkM0LhgQDmH/s200/4+Easy.PNG" width="200" /></span></a></div>
<span style="font-family: Trebuchet MS, sans-serif;">Engaging and intuitive, Framework™ allows homebuyers to easily access information and complete the course at their own pace. Framework can even help your clients qualify for special financing programs that make homeownership more affordable (Visit the Center's website, <a href="http://hocmn.org/en/homestretch-resources.cfm" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>, for more information about our "<a href="http://hocmn.org/en/homestretch-resources.cfm" target="_blank"><b><span style="color: #cc0000;">Down Payment Resource Tool</span></b></a>") and is accepted by most lenders including Bremer Bank, MN Housing, US Bank, Wells Fargo and more.</span><br />
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<span style="font-family: 'Trebuchet MS', sans-serif;">Now we're offering a series of webinars for you to see how </span><span style="font-family: 'Trebuchet MS', sans-serif;">Framework™</span><span style="font-family: 'Trebuchet MS', sans-serif;"> can help your clients, friends and families be successful homebuyers... and help YOU in your real estate, or lending business.</span><br />
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<b><span style="color: blue; font-family: Trebuchet MS, sans-serif;"><u>January Webinars:</u></span></b></div>
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<b><span style="font-family: Trebuchet MS, sans-serif;">Monday January 14, 2013</span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;">10:00am -11:00am CST</span></div>
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<a href="https://www2.gotomeeting.com/register/397262826"><span style="font-family: Trebuchet MS, sans-serif;">https://www2.gotomeeting.com/register/397262826</span></a></div>
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<b><span style="font-family: Trebuchet MS, sans-serif;">Friday January 18, 2013</span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;">1:00pm -2:00pm CST</span></div>
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<a href="https://www2.gotomeeting.com/register/791017314"><span style="font-family: Trebuchet MS, sans-serif;">https://www2.gotomeeting.com/register/791017314</span></a></div>
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<b><span style="font-family: Trebuchet MS, sans-serif;">Wednesday January 23, 2013</span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;">2:00pm -3:00pm CST</span></div>
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<a href="https://www2.gotomeeting.com/register/113022394"><span style="font-family: Trebuchet MS, sans-serif;">https://www2.gotomeeting.com/register/113022394</span></a></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Click on any of the links above to register for these FREE informational sessions!</span><br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-80454506726429370442013-01-03T09:35:00.000-06:002013-01-03T09:35:16.279-06:00Mortgage Debt Relief Act – Extended One More Year<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgg_4Fm4pC1V2liKECtf3kRSs5eX_0YmaJy-a31u2HJhbxTjYtIHl2uSzxrF4lTCU9mI_puNfjNzxQ2686wzpiV9hoZLEaYAhq5owpnJwe1mno_OAb5GrAJbOxDqAvriwRYWFNsvO9zka0L/s1600/DebtErase_vEd.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgg_4Fm4pC1V2liKECtf3kRSs5eX_0YmaJy-a31u2HJhbxTjYtIHl2uSzxrF4lTCU9mI_puNfjNzxQ2686wzpiV9hoZLEaYAhq5owpnJwe1mno_OAb5GrAJbOxDqAvriwRYWFNsvO9zka0L/s200/DebtErase_vEd.jpg" width="200" /></a></div>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgg_4Fm4pC1V2liKECtf3kRSs5eX_0YmaJy-a31u2HJhbxTjYtIHl2uSzxrF4lTCU9mI_puNfjNzxQ2686wzpiV9hoZLEaYAhq5owpnJwe1mno_OAb5GrAJbOxDqAvriwRYWFNsvO9zka0L/s1600/DebtErase_vEd.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><br /></a><span style="font-family: Trebuchet MS, sans-serif;">Ordinarily any housing debt forgiven by a lender or servicer (short sale, principal reduction, short refinances, deed-in-lieu of foreclosure, etc.) is considered taxable income by the I.R.S. and must be included (added) to a taxpayer’s gross income when calculating their income tax.</span><br />
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<span style="font-family: 'Trebuchet MS', sans-serif;">In 2007, the Mortgage Forgiveness Debt Relief Act allowed homeowners who received debt forgiveness to not have to pay taxes on the amount forgiven in most circumstances. The law was then extended in 2009 for an additional three years (through 12/2012).</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">The ‘fiscal cliff’ deal that was recently signed by President Obama extends the exception for home mortgage debt forgiveness for an additional year covering debts discharged through the end of 2013. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Minnesota homeowners need to know that there are MANY stipulations in the legislation. Most importantly, for homeowners to qualify for debt forgiveness, their debt must have been used to “buy, build, or substantially improve” their primary residence. This stipulation is especially important for buyers whose debt has been forgiven on a refinanced or second mortgage.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">You can view a copy of our newly-updated fact sheet <a href="http://hocmn.org/Stock/Editor/file/FACT%20SHEETS/MortgageDebtForgivenessKeyFacts_January2013.pdf" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>.</span><br />
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<span style="color: blue; font-family: Trebuchet MS, sans-serif;"><i>Consult a qualified tax professional if you have additional questions about the Mortgage Forgiveness Debt Relief Act or the most recent extension.</i></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Dozens of other <a href="http://hocmn.org/en/fp-factsheets.cfm" target="_blank"><b><span style="color: #cc0000;">helpful facts sheets</span></b></a> about foreclosure and foreclosure prevention are available to the public and can be freely downloaded from the Center's website, <a href="http://hocmn.org/en/fp-factsheets.cfm" target="_blank"><b><span style="color: #cc0000;">here</span></b></a>.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">If you're struggling with mortgage payments... you're not alone. Thousands of others are also struggling. More importantly, Minnesota has a statewide network of non-profit organizations that can help YOU put a plan in place to avoid foreclosure. Last year, more than half of the people who sought out our services were able to avoid foreclosure. Don't delay, <a href="http://hocmn.org/en/stayinyourhome.cfm" target="_blank"><b><span style="color: #cc0000;">contact us today.</span></b></a></span><br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-44257891890527588042012-11-05T09:12:00.000-06:002012-11-05T09:12:08.421-06:00Top Women in Finance 2012: Center Board Member Vicki Shipley<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCU2yAuWdy69_0fX9EjKnvyqu8pn-0tFJzWg4CKsxbxzBsxxFM-MfUGBXF3sbxSq4T9smAB0O2J6gQ68X_1Il1yNvcsm2WgfZj5zAMGx9V-ernA76oWWlk75s9PF9b1AoVYulxBebdiOdt/s1600/Vicki_TopWomenInFinance.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCU2yAuWdy69_0fX9EjKnvyqu8pn-0tFJzWg4CKsxbxzBsxxFM-MfUGBXF3sbxSq4T9smAB0O2J6gQ68X_1Il1yNvcsm2WgfZj5zAMGx9V-ernA76oWWlk75s9PF9b1AoVYulxBebdiOdt/s200/Vicki_TopWomenInFinance.JPG" width="169" /></a></div>
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<span style="background-color: white; background-position: initial initial; background-repeat: initial initial; font-family: 'Trebuchet MS', sans-serif; line-height: 115%;"><span style="color: #222222;">The Minnesota Homeownership
Center congratulates US Bank Vice President, and Vice President of the Center’s
Board of Directors, </span><b><span style="color: blue;">Vicki Shipley</span></b><span style="color: #222222;">
for being selected as one of Minnesota’s “</span><strong style="color: #222222;">Top Women in Finance</strong><span style="color: #222222;">” by Finance & Commerce
Magazine.<o:p></o:p></span></span></div>
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<span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #222222; font-family: 'Trebuchet MS', sans-serif; line-height: 115%;">The<span class="apple-converted-space"> </span></span><strong><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; font-family: 'Trebuchet MS', sans-serif; line-height: 115%;"><a href="http://finance-commerce.com/2012/11/special-section-top-women-in-finance-2012/" target="_blank"><span style="color: #cc0000;">Top Women in Finance</span></a></span></strong><span class="apple-converted-space"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #222222; font-family: 'Trebuchet MS', sans-serif; line-height: 115%;"> </span></span><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #222222; font-family: 'Trebuchet MS', sans-serif; line-height: 115%;">award is given to principals, partners,
executive vice presidents, CFOs, CEOs and managing directors at corporations in
the finance industry as well as small and large business leaders throughout the
state who have shown innovation, leadership, or some other notable qualities in
the area of finance.</span><span style="color: #222222; font-family: Arial, sans-serif; line-height: 115%;"><br />
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</span><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #222222; font-family: 'Trebuchet MS', sans-serif; line-height: 115%;">In her role as Regional Manager for Community Affairs, Vicki has worked tirelessly to build strong
connections between US Bank (and other financial institutions) and local community-based
nonprofits. As just one example of Vicki’s
efforts, Finance & Commerce recognized Vicki’s innovative initiative that allows
several community-based organizations to utilize unused US Bank office space. The Minnesota Homeownership Center is just
one beneficiary of this program.<o:p></o:p></span></div>
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<span style="color: #222222; line-height: 115%;"><span style="font-family: Trebuchet MS, sans-serif;">Vicki is not the only connection the Center
has with Finance & Commerce’s annual Top Women in Finance edition. In 2010 (and 2007), another Board Member, Muffie Gabler,
was a recipient and this year Commissioner Mary Tingerthal of Minnesota
Housing, the state’s Housing Finance Agency that works closely with the
Minnesota Homeownership Center on affordable housing issues, was also selected.<o:p></o:p></span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #222222; line-height: 115%;">For
a complete list of honorees, visit the Finance and Commerce article<span class="apple-converted-space"> </span></span><span style="line-height: 115%;"><strong><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; line-height: 115%; text-decoration: none;"><a href="http://finance-commerce.com/2012/11/special-section-top-women-in-finance-2012/" target="_blank"><span style="color: #cc0000;">here</span></a></span></strong></span><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #222222; line-height: 115%;">.</span></span><span style="color: #222222; line-height: 115%;"><span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
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<!--[endif]--></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-399709299529356975.post-79481484489664990772012-10-29T08:18:00.001-05:002012-10-29T08:22:52.702-05:00Housing Holding Pattern: Preforeclosure Notices<b><span style="color: #666666; font-family: Trebuchet MS, sans-serif;">A Good News / Bad News situation</span></b><br />
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<span style="font-family: Trebuchet MS, sans-serif;">On Monday, October 29th, the Minnesota Homeownership Center released its data on the aggregate number of <i>Preforeclosure Notices</i> received by counselors in the Homeownership Advisors Network for the third quarter of 2012. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: blue;">10,016 households</span></b> were notified by their lender/servicer between June and September that they may find themselves in foreclosure if they aren't able to bring their mortgage payments current.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">This number sends a mixed message that can be cause for celebration or concern, depending on your disposition:</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"> </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><b>The Good News</b> - Year over year, the numbers continue to show improvement for the number of households that are struggling with foreclosure as the number reflects a decline of 31% from the number received in the same period in 2011. (14,586 vs. 10,016)</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><b>The Not-So-Good News</b> - We saw no improvement when we compare the number received in the third quarter with the number received in the second quarter. When comparing the two quarters, we actually see a very minor 0.21% increase.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">The Twin Cities Metro area experienced a slightly larger increase in the number of notices from Q2 – Q3 (a 2% increase) and while it shows a substantial decline from the same time period in 2011 (-27%) the decline doesn't match the overall statewide decline (-31%, mentioned above).</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Overall today’s numbers show that while the foreclosure crisis is slowly coming to an end…we are, by no means, out of the woods yet.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">In addition, we shouldn't lose sight of the fact that the numbers show that more than <b><span style="color: blue;">THIRTY THOUSAND</span></b> Minnesota families continue to struggle with mortgage payments. You can help these families by connecting them with information, resources and effective foreclosure prevention help. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">Join us in spreading the word by placing banners on your blog/website… or asking your employer, social service agency or local government to post links to the Minnesota Homeownership Center’s website:</span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaA4W0aiwyXdUwFiRzU7XEiJwAjsqnmOuI4Ro5jxpkk7jniW4iUVHOQJ-p00nblvItZQ-xXc0601hFm-uNIQ6LhkvLTG9DmUrvrfOtTxyfZ3SMAf-UzO-7d0ihaWS522-DL9ng4brAcKek/s1600/425x600_Animated.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaA4W0aiwyXdUwFiRzU7XEiJwAjsqnmOuI4Ro5jxpkk7jniW4iUVHOQJ-p00nblvItZQ-xXc0601hFm-uNIQ6LhkvLTG9DmUrvrfOtTxyfZ3SMAf-UzO-7d0ihaWS522-DL9ng4brAcKek/s200/425x600_Animated.gif" width="141" /></a></div>
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<span style="font-family: Trebuchet MS, sans-serif;">For electronic copies of banners you can use, visit: <b><span style="color: #cc0000;">http://hocmn.org/en/bannerpage.cfm</span></b>.</span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">If you're struggling with mortgage payments... it's as you can see from this blog post.... you're not alone. Thousands of others are also struggling. More importantly, Minnesota has a statewide network of non-profit organizations that can help YOU put a plan in place to avoid foreclosure. Last year, more than half of the people who sought out our services were able to avoid foreclosure. <a href="http://hocmn.org/en/stayinyourhome.cfm" target="_blank"><b><span style="color: #cc0000;">Don't delay, contact us today</span></b></a>.</span></div>
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