The Minnesota foreclosure machine for the most part has not been affected by the recent halt to foreclosures by some of the big mortgage players (Bank of America BAC, PNC
Financial, Chase). This is mostly because Twin Cities foreclosures (actually all Minnesota foreclosures) happen in a redemption state. If the owner has cause, she or he can likely get the sheriff’s sale postponed and after the Minnesota sheriff’s sale has happened, the prior owner has 6 month’s to “redeem” themselves and take back title to their home. MN NPR has an interesting article about this issue.

http://minnesota.publicradio.org/display/web/2010/10/17/foreclosures/
For more info on Hennepin County Foreclosures, Hennepin County Sheriff’s Sales,Dakota County Foreclosures, Dakota County Sheriff’s Sales, Anoka County Foreclosures, Anoka County Sheriff’s Sales,Carver County Foreclosures, Carver County Sheriff’s Sales,Washington County Foreclosures, Washington County Sheriff’s Sales,Scott County Foreclosures, Scott County Sheriff’s Sales,Ramsey County Foreclosures, Ramsey County Sheriff’s Sales http://mnforeclosureproperties.com/?p=161 

Here is an interesting interview with PBS and HUD Secretary Donovan

All in all, the foreclosure are going to keep coming. I think we will see a little more QC done during some of the legal filings and such, but the banks are going to take back homes where someone is not paying their mortgage. For the most part Twin Cities (Minneapolis and St. Paul), Hennepin County / Ramsey County / Dakota County / Washington County / Anoka County / Carver County / Scott County foreclosures (REO) listings will continue to work their way through the legal process and be resold on the open market. Coming into the winter market with an ever increasing inventory has created some fabulous opportunities for investors to pick up some excellent CASH FLOW properties with little money down. I think we have about 2-4 more years of this market. The best deals will be in the next year to 18 months before Minnesota foreclosures start to tapper off. If you have good credit, a little money, time to put into an income property and you want to wealth in a decade from now, talk to a good Minneapolis / St. Paul Twin Cities Minnesota real estate broker. – John Schuster

http://www.finance-commerce.com/article.cfm/2009/02/28/Foreclosure-relief-on-way-to-21-Minnesota-counties-cities

“Carter was one of many Minnesota politicians – including two mayors and the state housing commissioner – who gathered at the home, on the corner of Sherburne Avenue and Arundel Street, to announce how $38.3 million in federal dollars will be allocated to 21 cities and counties for rehabilitation and redevelopment of foreclosed homes.

The federal dollars, from the Federal Housing and Economic Recovery Act of 2008, were originally announced in September. At that time, the feds announced nearly $58 million in awards to Minnesota. (Of that $58 million, about $19 million has already been distributed collectively to the cities of Minneapolis and St. Paul and the counties of Hennepin, Dakota and Anoka.)”… from Finance and Commerce 2/27/09 (see link)

Comment by John Schuster – Government money to help to housing crisis?  St. Paul & Minneapolis and Hennepin County, Dakota County and Anoka County need what ever stimulus spark to rev up their housing markets.  A lot of this is a simple supply and demand function – There is an excessive amount of REO Inventory (foreclosures) in the Twin Cities Minnesota area.  That, combined with a tightening credit market – which further reduces the pool of buyers and depresses the prices at which they can purchase – can lead to a downward spiral in a “free market” economy.  Government is the only thing that can fix this thing now.  If we want to have any resemblance of the America we were born into and have grown to love – drastic action needs to be taken.  This government funds noted in this article may be just be a drop in the bucket, but it is a start to correcting our situation.