Preforeclosure notices seem to be on the decline! The Minnesota Homeownership Center has just released its data for the 3rd quarter of 2012. Between June and September, 10,016 homeowners were notified that they would be facing foreclosure if they did not catch up on their mortgage payments.
This is good news as it shows a 31% decline from the same period in 2011. Between June and September 2011 there were 14,586 notifications sent out.
The bad news is that there was no decrease in the number from the second to third quarter of 2012 and actually there was a slight .21% increase.
What we can take away from these numbers about preforeclosure notices is that foreclosures are slowing and declining but there is still a long road ahead.