This is great news at it signals even fewer foreclosures for Minnesota in the future. Preforeclosure notices typically go out 2-6 months before a sheriff sale occurs. Thus with this information, I can project out into 2013 and tell you that even fewer foreclosures will be for sale in the next 8-12 months than there are today.
While there are still a lot of homeowners behind in their payments and at risk of foreclosure, those numbers are declining as well. Every area is responding a little different however so some communities have almost no foreclosures while others still have substantial numbers.
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