Foreclosures are down in Minnesota, but the good news may not last

MPR reports one in every 336 homes was in default, repossession or scheduled for auction in the third quarter of this year. That could be a sign of more foreclosures to come.
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MPR reports one in every 336 homes was in default, repossession or scheduled for auction in the third quarter of this year. That could be a sign of more foreclosures to come.

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Anti-foreclosure group reports progress

Organizers with the group Occupy Homes say their efforts to help homeowners fight foreclosure are showing signs of success, MPR reports. The group's staged sit-ins at foreclosed properties have led to 40 arrests, including local rapper Brother Ali outside a Minneapolis home last month.

Minnesota foreclosures down 19 percent last year, but 2012 spike looms

A dip in foreclosures in 2011 may be an aberration. One expert says lenders just fell behind in processing them and are likely to work through the backlog during 2012.

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Despite a drop in foreclosures in the Twin Cities last year, 2012 will not likely be the year that the housing crisis winds down. The Star Tribune reports that a moratorium on processing new foreclosures has ended, which will likely increase the number of local foreclosures processed in the coming year.

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The average home in the metro area is now going for around $149,000. That's about 10 percent lower than a year ago. Foreclosures and short sales, economic fears and budget-minded buyers are keeping prices down despite stronger sales.

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Report finds Minnesota struggling to gain ground against foreclosures

A report from the McKnight Foundation finds the number of foreclosures prevented by housing agencies and advocacy groups is going up. But not quite as fast as the number of foreclosures.