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650 AM Hibbing, Minnesota


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Foreclosure Filings Increase in MN


Duluth, MN (KDAL) - There were two thousand foreclosure filings in Minnesota last month.  That's an increase of from September.  However Daren Blomquist with Realty Trac says the long-term trend is still moving downward as the economy improves and upside down loans get resolved.

The issue is that many homeowners were able to obtain loans they couldn't afford once the economy went south.  Then with their home value tanked, the owners were unable to move their property on the market for what they had into it.