Minn. foreclosure rate outpaces national averageby Annie Baxter, Minnesota Public Radio
St. Paul, Minn. — Minnesota saw year-over-year gains in foreclosure activity last month, according to the national housing data firm RealtyTrac.
RealtyTrac says Minnesota's foreclosure activity in May climbed about 7 percent compared with the same month last year. That bump was higher than the average national increase of less than 1 percent during that period.
On a monthly basis, foreclosure activity in Minnesota dropped about 3 percent between April and May of this year. That drop was similar to the national decrease.
RealtyTrac says lenders appear to be completing foreclosures that had been delayed by modification programs. Meanwhile, new delinquencies are abating.