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ITEM # 8. <br />river <br />MEMORANDUM <br />TO: Housing & Redevelopment Authority <br />FROM: Catherine Mehelich, Director of Economic Development i~~~ <br />DATE: October 6, 2008 <br />SUBJECT: Presentation by MN Home Ownership Center regarding <br />Mortgage Counseling Services <br />Attachments <br />• Fig. 7: MN County Foreclosures (2008 projections), HousingLink Report, April 2008 <br />• League of MN Cities handout - "What Local Government can do to Address <br />Foreclosures" <br />• MN Home Ownership Center materials <br />Issue <br />Staff has invited Mr. Ed Nelson, Communications Manager for the Center, to provide an <br />overview of the foreclosure issue in Minnesota and the Center's outreach programs and <br />services available to Elk River households. <br />Background <br />The MN Home Ownership Center is a nonprofit agency that connects homeowners to <br />information, homebuyer education and loan counseling services. The Center provides these <br />services through its network of community-based organizations throughout the state. The <br />Center's role is to provide these organizations with training, technical and financial support. <br />Most recently the Center has been focusing its outreach efforts to provide foreclosure <br />prevention services in communities that are projected to experience the highest rates of <br />foreclosure in 2008 -Sherburne County being ranked as #8 among Minnesota counties. <br />