The Minnesota Homeownership Center has released its data on the number of preforeclosure notices received by foreclosure counselors in the Homeownership Advisors Network for the second quarter of 2012. Notices received dropped 17% from the first quarter of 2012, reaching their lowest point since the law was enacted in late 2008. In the second quarter of 2012, 9,995 preforeclosure notices were received which is 17% fewer than the previous quarter, and 25% fewer than the second quarter of 2011. The Twin Cities metro area also experienced a 16% drop in the number of notices.
While numbers were mostly down, Carver County experienced a 13% increase and the City of Minneapolis a 45.6% increase in the number of preforeclosure notices. Overall the number of notices is down but there still have been 22,101 preforeclosure notices sent out so far this year.
If you are experiencing difficulties paying your mortgage or need to sell but owe more than what your home is worth, take a look at my short sale and foreclosure page for more information.