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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.
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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.

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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.

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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 Center for Responsible Lending says Minnesota's foreclosure rate on bubble-era loans was higher than most other states. The report also found 5.5 percent of the Minnesota mortgages made during the housing bubble are delinquent.

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