April 19, 2013 (Press-News.org) There's no disputing that the foreclosure crisis has taken a huge toll all throughout Minnesota. Nearly everyone knows someone who lost their home during the Great Recession, or who got into serious trouble after falling behind on their mortgage.
Thankfully, data suggests that the problem is getting better. A recent report from the Minnesota Homeownership Center shows that the number of Minnesota homes lost to foreclosure in 2012 was lower than at any point since the crisis began in 2006. Statewide, the number of foreclosure sales fell by 16 percent from the year before. The metro fared a little better than the rest of the state, though. Foreclosure sales were down by about 19 percent in the Twin Cities area, while greater Minnesota experienced an 11 percent drop.
While this decline is certainly good news, there are still far too many people facing foreclosure. The Minnesota Homeownership Center's report showed that 17,895 homes in Minnesota were lost to sheriffs' sales in 2012.
Hennepin County has been hit harder than any other county in Minnesota. In 2012, a total of 4,130 Hennepin County homes were lost in foreclosure sales. According to data published in the Star Tribune, there were 50,507 foreclosures in Hennepin County alone between 2008 and 2012.
Help for struggling homeowners
If you are having trouble keeping up with your mortgage payments, know that you are not alone. You are also not without options. Minnesota law provides a number of alternatives for homeowners who are facing foreclosure.
For many people, filing for bankruptcy can be a great option. Chapter 13 bankruptcy can stop foreclosure and give borrowers a chance to catch up on their past-due mortgage payments. In addition, Chapter 7 bankruptcy is an option for people who are current on their mortgages but are struggling to make their payments. Chapter 7 won't get rid of mortgage debt, but it will discharge most other forms of debt (including medical bills and credit card debt), allowing homeowners to direct more of their income toward paying the mortgage.
Homeowners who owe more than their houses are worth may also be able to pursue a short sale. In short sales, the bank agrees to accept the market price of the home as satisfaction for the loan, even if it is less than the homeowner owes.
Every homeowner's situation is different, so it is important to consult with an experienced bankruptcy attorney before taking action. The attorney will be able to evaluate the circumstances of your individual case to help you devise the best plan for moving forward.
Article provided by Hoglund, Chwialkowski & Mrozik, PLLC
Visit us at www.bankruptcyminnesota.com
Minnesota foreclosure rate drops, but problems persist
A recent report from the Minnesota Homeownership Center shows that the number of Minnesota homes lost to foreclosure in 2012 was lower than at any point since the crisis began in 2006.
2013-04-19
ELSE PRESS RELEASES FROM THIS DATE:
Chapter 7 bankruptcy: might an alternative approach be better for you?
2013-04-19
Overwhelming debt can happen to anyone and it's not a reflection on character. Especially in the current economy, a financial challenge can be the tipping point for an individual or family toward crushing debt. For example, unexpected and unplanned-for divorce, medical emergency, interruption of medical insurance coverage, job loss, breadwinner death or another similarly serious situation could send many an American into a financial abyss.
If you face a financial crisis, talk to an experienced bankruptcy attorney about whether bankruptcy might be the right answer for ...
Butler, Wooten & Fryhofer Has Successfully Handled Airbag Defects Similar to Current Takata Recall
2013-04-19
TK Holdings ('Takata') recently announced a massive recall of defective airbags on more than three million vehicles in use in the United States. The potentially dangerous airbags were installed as original parts in the following:
- Toyota: 2001-2003 Corolla, Matrix, Tundra, Sequoia and Lexus SC 430
- Mazda: 2003-2004 Mazda 6 and 2004 RX-8
- Nissan: 2001-2003 Maxima, Infiniti FX, Infiniti QX4, Pathfinder and Sentra
- Honda: 2002-2003 CR-V, 2001-2003 Civic and the 2002 Odyssey
- General Motors: 2003 Pontiac Vibe
All vehicles involved require inspection to confirm ...
Common Myths About Disability And Social Security Disability Benefits
2013-04-19
There are many things you can do, if you are disabled, that will not in themselves cause you to lose your case. For instance, you can actually attempt to return to work-if you can't handle the work in under three months, you are still entitled to benefits. Trying to get whatever enjoyment you can from life, despite your pain and limitations, will not keep you from getting benefits. You can spend time with your family and friends, you can take a small trip from time to time, or go to the movies or a concert. Doing light housework or exercise will not hurt your case. If you ...
Save 15% During King Jewelers Diamond Earring and Diamond Pendant Sale in Nashville, TN
2013-04-19
In honor of a month-long Diamond Extravaganza in Nashville, King Jewelers will be holding a number of exclusive diamond specials throughout April. King Jewelers, Nashville's leading local jeweler and authorized luxury brand retailer, will be running a special sale on their private collections of diamond stud earrings and classic pendants with diamond certifications from GIA (Gemological Institute of America), Forevermark, and EGL USA.
Customers will be saving up to fifteen percent on stunning diamond stud earrings during this diamond jewelry sale. Each pair of diamond ...
Foresters UK Teams Up with Operation Shoebox UK to Support Serving Soldiers
2013-04-19
Foresters, the international financial services organisation, are proud to announce that they have partnered up with Operation Shoebox UK - an innovative mission which supports serving soldiers by sending them shoeboxes of necessities and goodies.
The idea of Operation Shoebox UK is simple - yet makes such a huge difference to the troops in Afghanistan - providing them with a shoebox full of much needed basics (such as toothbrushes, toothpaste and foot powder) to goodies (such as magazines, pens, and hot chocolate).
Most importantly, it reminds them that they are ...
Palm Communities Celebrates the Groundbreaking for Mesa Commons Apartments in San Diego, CA
2013-04-19
Mesa Commons Apartments is an affordable housing development with a strong sense of place. The idea behind it is to incorporate sustainable aspects through walkability to amenities and the implementation of "Green" technologies. This 77-unit affordable community will serve large families with incomes between 30% and 60% of the Area Median Income (AMI). The subject site is a 4.08 acre vacant parcel with primary access from El Cajon Boulevard and with full view from the main road. The surrounding neighborhood is single-family homes adjacent to a commercial corridor. ...
Managing Risk in Healthcare Through Lean
2013-04-19
Risk management in the hospital setting is complex. Too often it is viewed as "risk elimination," resulting in complex solutions that add an increased burden on caregivers, slow the process of care, and cost more than they save. In this one-day workshop, participants will learn another way to view risk management--through the lens of Lean.
By applying Lean principles, healthcare environments can better understand processes that fail and redesign them to eliminate waste and improve safety. They can make risk management something that everyone is involved in, ...
Children's Author Publishes Fourth Book in the Educational Rachel Raccoon and Sammy Skunk Series
2013-04-19
Progressive Rising Phoenix Press is pleased to announce that they have released the fourth book in the Rachel Raccoon and Sammy Skunk Series by author Jannifer Powleson. These books contain colorful photos, realistic illustrations, and entertaining characters that combine to teach children about nature.
In Powleson's latest book, Rachel and Sammy Learn to Conserve, Rachel, Sammy, and their classmates help children discover that everyone's a winner when they conserve the earth's natural resources. Readers will learn all about planting trees and native plants, soil, ...
Writing Tips from Prompt Proofing - How to Write an Effective Cover Letter
2013-04-19
Every time you apply for a job, unless specifically directed otherwise in the advertisement, you should accompany your resume with a cover letter.
The cover letter may be the first thing the hiring manager opens and it may be your sole chance to make a sufficiently good impression to net an interview. The cover letter can explain any apparent gaps or inadequacies in your resume but, more importantly, it provides you with the opportunity to sell yourself as the best candidate for the position.
Your object is to convince the reader(s) of the benefits you will bring ...
Sound Physicians Hosting Session at American College of Physician Executives 2013 Annual Meeting
2013-04-19
Sound Physicians, a leading hospitalist organization focused on driving improvements in quality, satisfaction and financial performance of inpatient healthcare delivery, will be presenting at the American College of Physician Executives 2013 Annual Meeting.
Dr. Mark Rudolph, VP of Patient Experience and Physician Development at Sound Physicians, will be leading the session entitled, "Engaging Physicians in Patient Experience Improvement." Dr. Rudolph will be discussing leadership communication strategies that foster physician alignment with patient experience ...
LAST 30 PRESS RELEASES:
Study identifies umbilical cord blood biomarkers of early onset sepsis in preterm newborns
AI development: seeking consistency in logical structures
Want better sleep for your tween? Start with their screens
Cancer burden in neighborhoods with greater racial diversity and environmental burden
Alzheimer disease in breast cancer survivors
New method revolutionizes beta-blocker production process
Mechanism behind life-threatening cancer drug side-effect revealed
Weighted vests might help older adults meet weight loss goals, but solution for corresponding bone loss still elusive
Scientists find new way to predict how bowel cancer drugs will stop working – paving the way for smarter treatments
Breast cancer patients’ microbiome may hold key to avoiding damaging heart side-effects of cancer therapies
Exercise-induced protein revives aging muscles and bones
American College of Cardiology issues guidance on weight management drugs
Understanding the effect of bedding on thermal insulation during sleep
Cosmic signal from the very early universe will help astronomers detect the first stars
With AI, researchers find increasing immune evasion in H5N1
Study finds hidden effects of wildfires on water systems
Airborne fungal spores may help predict COVID-19 & flu surges
Study shows tissues’ pliability depends on watery fluid between cells
Interfacial polymer cross-linking strategy enables ultra-thin polymeric membranes for fast and selective ion transport
A leap in canine medicine: Method for reproducible mesenchymal stem cells found
New nanoparticles offer safer, more effective drug delivery
Virtual reality could help stroke survivors regain movement
Placenta and hormone levels in the womb may have been key driver in human evolution, say researchers
BMJ finds inaccuracies in key studies for AstraZeneca’s blockbuster heart drug ticagrelor
Paper outlines more efficient organic photoredox catalysis system inspired by photosynthesis
Plastic bag bans: Study finds up to 47% drop in shoreline bag litter
Plastic bag policies are effective in reducing shoreline litter in the US
Current chemical monitoring data hinders global water risk evaluations
New method enables in vivo generation of CAR T cells to treat cancer and autoimmune disease
Decline in population data collection threatens global public policy
[Press-News.org] Minnesota foreclosure rate drops, but problems persistA recent report from the Minnesota Homeownership Center shows that the number of Minnesota homes lost to foreclosure in 2012 was lower than at any point since the crisis began in 2006.