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ITEM # 5. <br />ver <br />MEMORANDUM. <br />TO: Housing Redevelopment Authority <br />FROM: Annie Deckert, Economic Development Assistant <br />DATE: 7 September 2010 <br />SUBJECT: MN Home Ownership Center Presentation -Foreclosures Update <br />ISSUE <br />Mr. Ed Nelson of MN Home Ownership Center will make a presentation at the HRA meeting <br />regarding the attached Look Before You Leap campaign designed to stop foreclosure prevention <br />scams in MN <br />BACKGROUND <br />The HRA partnered with MNHOC in October of 2008 to create and distribute informational <br />materials regarding free foreclosure prevention assistance and resources to various businesses, <br />organizations and churches in the community. <br />MNHOC works with home owners in fear of foreclosure to offer advice and create a plan to assist <br />in preventing foreclosure. <br />In 2008, MNHOC assisted 3,753 cases and 6,029 cases in Greater MN in 2009. MNHOC reported <br />that 58% of closed cases avoided foreclosure in 2009; 368 of them in Sherburne County alone. <br />Staff will continue to work with MNHOC to market and distribute foreclosure prevention <br />information. <br />