The big picture of Minnesota’s foreclosure crisis

The metro-centric Twin Cities media have a tendency (although not so much here at MPR) to ignore the effects of the foreclosure crisis around the rest of the state.

A new foreclosure report from Minnesota Housing describes the impact, and the maps contained in the document below demonstrate how the crisis has spread out from the urban core.

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The report finds that the overall pace of foreclosures continues nearly unabated, and will stretch out at least another year.

The exceptions are north Minneapolis and east St. Paul. The epidemic ravaged those areas early, and is now taking a toll in the outer ring suburbs and across the state.

The report comes as events at the national level hold out some hope for modest reparations. The negotiaters for all 50 states’ attorneys general are reportedly close to agreement with the big lenders involved in the robo-document signing scandal.

There may be up to $20 billion available for some form of remediation if a settlement is reached. But it’s too little, too late for millions of homeowners foreclosed on.

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