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ยป VISIT US ONLINE @ DSNEWS.COM 83 payments and to reduce the number of vacant homes in distressed neighborhoods. Detroit is the first city for the pilot program, which was announced earlier this year. "We know that one size doesn't fit all when it comes to helping homeowners and neighborhoods recover," FHFA Director Mel Watt said in a statement. "Our goal is to get the word out about HARP to borrowers who are current but underwater, and help borrowers who are either delinquent or at risk of losing their home recognize that they too have options. In Detroit, local leaders and community groups are already doing a tremendous amount of work, and we applaud their proactive approach. Our event will al- low us to coordinate more directly with those trusted sources as we move forward." e town hall-style event featured Watt, Detroit's community leaders, and other hous- ing experts from FHFA, as well as representa- tives from Fannie Mae; Freddie Mac; Quicken Loans; the U.S. Department of the Treasury; and the National Community Stabilization Trust, a nonprofit organization that FHFA has partnered with for the NSI program. Borrowers are eligible for a HARP loan if they meet the following requirements: the loan must be owned or guaranteed by Fannie Mae or Freddie Mac; the loan must have been originated on or before May 21, 2009; the loan-to-value (LTV) ratio must be greater than 80 percent; and the borrower must be current on the mortgage payments. ey must not have had a late payment in the previous six months or more than one late payment in the previous 12 months. Borrowers who could benefit from HARP are referred to as "in the money" borrowers; they are "in the money" if they meet all the HARP eligibility requirements, have a re- maining balance on their loan of greater than $50,000 with more than 10 years left on their term, and have an interest rate that's more than 1.5 percent above current market rates. As of June, about 3.1 million homeown- ers had refinanced through HARP since it was introduced by FHFA and Treasury in 2009 as part of the Making Home Afford- able program. FHFA held events similar to the Detroit meeting in Chicago and Atlanta earlier this year. Minnesota RANK: 47 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate AUGUST 2014 1.22% 0.58% 4.3 YEAR AGO 1.30% 0.91% 5 YEAR-OVER-YEAR CHANGE -6.7% -35.9% -0.7 Top County PIPESTONE COUNTY 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 1.53% 3.10% YEAR AGO 2.76% 2.02% YEAR-OVER-YEAR CHANGE -44.5% 53.7% Top Core-Based Statistical Area ALBERT LEA, MN 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 1.25% 1.39% YEAR AGO 1.64% 1.74% YEAR-OVER-YEAR CHANGE -23.9% -20.1% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary August 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Minnesota www.MinnesotaREO.com 612-669-6324 952-829-2938 763-432-7640 612-821-7500 952-844-1511 763-533-9133 651-209-8444 Bruce McAlpin Jeff Detloff Long H. Doan Maribel Garcia Garth Johnson Craig Murphy Michael Olsen Missouri RANK: 38 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate AUGUST 2014 2.24% 0.82% 6.3 YEAR AGO 2.42% 1.01% 6.6 YEAR-OVER-YEAR CHANGE -7.5% -18.7% -0.3 Top County MISSISSIPPI COUNTY 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 5.06% 3.18% YEAR AGO 4.96% 4.27% YEAR-OVER-YEAR CHANGE 2.1% -25.7% Top Core-Based Statistical Area MEXICO, MO 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 3.08% 2.22% YEAR AGO 2.94% 2.16% YEAR-OVER-YEAR CHANGE 4.9% 2.9% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary August 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Nebraska RANK: 49 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate AUGUST 2014 1.49% 0.56% 3.6 YEAR AGO 1.58% 0.90% 4 YEAR-OVER-YEAR CHANGE -6.0% -37.3% -0.4 Top County PIERCE COUNTY 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 1.07% 1.58% YEAR AGO 1.93% 1.26% YEAR-OVER-YEAR CHANGE -44.4% 24.8% Top Core-Based Statistical Area BEATRICE, NE 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 2.33% 1.07% YEAR AGO 2.83% 1.28% YEAR-OVER-YEAR CHANGE -17.5% -15.9% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary August 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Scheduled foreclosure auctions in Michigan increased by 34 percent from Q2 to Q3 in 2014, the largest increase among states, according to RealtyTrac. KNOW THIS The percentage of residential housing units in foreclosure in Minnesota in September 2014, which ranked 31st in the nation. Source: RealtyTrac STAT INSIGHT 4%