years. While the national news is important, the status of foreclosures your local Minnesota community is also important. Recently, KSTP, the local ABC affiliate, began tracking foreclosures by zip code in Minnesota.
One part of Minnesota that has been hit hard by foreclosures is the 55411 zip code of north Minneapolis. Homeowners in this area of the city have faced more than 4,900 foreclosures since 2006. That is 49% of homes owned in that zip code. In other words, almost half, or 1 out of every 2 homeowners, has faced foreclosure in this area of town. That is the highest percentage of all the 1,651 zip codes in all of Minnesota and Wisconsin.
However, homeowners in the 55411 zip code are not alone. Hennepin County, which includes the 55411 area, had the highest amount of foreclosure activity in Minnesota during January 2012. During that month alone, 1,257 homeowners were affected. Dakota County saw 134 homeowners affected by foreclosure activity during the same month.
As the economy improves, many Minnesota homeowners continue to suffer. Minnesota foreclosures were up 17% in January 2012 compared to January 2011. Behind each foreclosure is another individual or another family that is suffering and must find another place to live.
Our Minnesota foreclosure lawyers understand that tough times have hit many families in our state, and we extend our best wishes to those families who have been displaced by foreclosure over the past few years.