Ripples

Star Tribune Wed, 30 Apr 2008 03:37:09 GMT
State is on track for 39 percent increase in foreclosures

Minnesota is headed toward a record number of foreclosures again this year, and while most of the homes are concentrated in Hennepin and Ramsey counties, outstate counties posted the highest foreclosure rates, according to a report released Tuesday. The study, by Housing Link and commissioned by the Greater Minnesota Housing Fund, predicts 28,000 homes will be foreclosed on in 2008, a 39 percent increase from a year ago. If those projections are accurate, that means that one in every 31 households statewide will have gone through the foreclosure process from 2005 to the end of 2008.

[[keywords: Housing;PropertyTax;Ramsey;Metro;]]