What is the actual status of foreclosures in MN right now?
According to the Minnesota Home Ownership Center, 2013 first quarter preforclosure notices were down 23% from the first quarter of 2012 however they were up 34% from the fourth quarter of 2012. This is not grounds to start worrying as often the holiday season has a slowing of foreclosures and some banks do not even carry out foreclosures during certain dates. Even with the increase from the fourth quarter of 2012 to the first quarter of 2013, notices are still declining year over year. The decline in preforeclosure notices is not just in the Twin Cities, but statewide. If you look at the county chart, you will see that in most areas the notices were down over a year ago. Click on either of the graphics to see a larger version.