Lori Swanson, the Attorney General of Minnesota wants mediation in foreclosure matters compulsory. She called for the state to make it mandatory for the banks to open talks with house owners before foreclosing on them. Swanson added that her department has been successful to some extent with voluntary mediation in some cases She was applauded [...]

An unprecedented increase in foreclosures in southwest metro counties is posing a challenge to south metro counties. Officials and communities are in a tizzy – what to do and what not to do. A warning has come through to local government bodies that the foreclosure crisis is worsening. This translates into slim budgets to an [...]

Foreclosures are challenging Congress and as yet seem to be enjoying the last laugh. Democrat Rep. Tim Walz speaks about his own personal experience. The house next to his has been in foreclosure for more than a year and pulled down the value of his own unit by 20%. The story of Walz is being [...]

More and more house owners who were and are victims of foreclosures are coming out with foreclosure scam stories. Many companies came forward with rosy promises of helping to prevent foreclosures but ultimately nothing happens except that the victims find themselves poorer. The story of Chantae Grandsberry of Brooklyn Center is one of many. She [...]

The Attorney General of Hennepin stated that some consulting firms have been duping foreclosure victims with promises of help. Six firms located outside the state have been charged by Hennepin County District Court. Injunction is being sought to prevent them from continuing with their business in Minnesota while the court proceedings are in progress. In [...]

A federal grant has been made of $4.3 billion to help 7,000 foreclosure victims in Minnesota. It is the second largest sanctioned in the country related to the present crisis. It will help the state to hire more housing counselors to steer the borrowers through the maze of lender bureaucracy. Governor Tim Pawlenty commented that [...]

During the last two years the situation has been sinking from bad to worse and foreclosures have enveloped Minneapolis. More and more people are losing the houses that have been their homes. The increase has been by 60% during the first two months of 2008 as compared to the same period in the previous year. [...]

All of Minnesota is affected by foreclosures in a very bad way but the situation outside the Twin Cities is different. The picture here is mixed. Iron Range communities in north eastern Minnesota is bursting with economic activity and this has resulted in a robust housing market. The risky loans have not played a dominant [...]