ST. PAUL, Minn. (AP) -- A new report released today shows a sharp increase in the number of home foreclosures in Minnesota during the first quarter.
The HousingLink report says there were nearly 6,900 residential mortgage foreclosures in the first quarter, a 31 percent increase compared to the same period last year.
HousingLink research manager Dan Hylton says Minnesota foreclosures in the first quarter reached the second-highest level during the current housing crisis.
The St. Paul Pioneer Press reports the only higher period was the second quarter of 2008 when about 7,200 homes were repossessed by banks.
