Even Expensive Homes can Face Foreclosure

The Star Tribune has been writing a series the last few months on foreclosures in the Twin Cities. Seems no one is immune as even luxury homes have been hit in the Lakes area. Foreclosures are up 62% this year alone in Hennepin County.

Take a look at the article to see homes currently in foreclosure or those that have recently been auctioned off by a Sheriff’s Sale. The numbers are truly staggering. Some entire streets of homes are in foreclosure, a detriment to the community.

With homes selling like hotcakes in 2003-2006, is it any wonder that some people bought homes that were beyond their limit? It puts the phrase “Live within Your Means” on a brand-new level.

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