Minnesota foreclosure rates drop, maybe
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After months of increases, home foreclosures fell last month in Minnesota - but only slightly.
Some experts say the one percent drop may be nothing more than a statistical fluke.
Daren Blomquist of the foreclosure research firm Realty Trac says the numbers are still worrisome.
"There's a 171 percent increase in bank repossessions from July 07 to July 08. Which would indicate that a lot of these properties are making it through the foreclosure process and not able to stop it. So it's been taken back by the bank," Blomquist said.
Blomquist said Minnesota was well below the national foreclosure rate in July. He said the counties with the highest rates were Dakota, Wright and Scott.
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