Mortgage Crisis

The Foreclosure Crisis in Minnesota

Submitted by Anonymous on Thu, 02/26/2009 - 00:44

by Lynette Malles, Poor Peoples' Economic Human Rights Campaign Member

In April, 2008, Minnesota saw 1,405 foreclosures , which was a 68 percent-rise over the same period in 2007, according to a RealtyTrac study. In the first quarter of 2008, Minnesota was hit with 4,231 foreclosures. By August in Minneapolis alone, 950 homes were abandoned, according to Minnesota Public Radio. Such homes were evacuated, locked, and the heat kept on to prevent pipes from freezing.