East central area facing highest foreclosure rate in state

Isanti County ranked second, Chisago County six in 2007

Isanti County faces one of the highest foreclosure rates in the state, and things are only expected to get worse.
Ranked second highest in 2007, Isanti County falls behind Sherburne County. Chisago County sat at number six in the state.
According to data collected by by Housing Link as commissioned by the Greater Minnesota Housing Fund, there were over 322 homes foreclosed upon in Isanti County last year, and that number is expected to rise to 404 in 2008.
In Chisago County, there were 307 foreclosures in 2007, and analysists expect that to grow to 249 in 2008.
What makes these numbers significant is how they've grown since 2005.
These figures also follow several years of higher than ever new home construction.
According to the study released on April 29, 2008, the 10 counties most affected by foreclosures in the state of Minnesota last year were Sherburne, Isanti, Mille Lacs, Pine, Wright, Chisago, Le Sueur, Kanabec, Scott and Anoka.
Looking at the state as a whole, there was one mortgage foreclosure for every 100 homes in 2007.
The total number rose from 6,466 in 2005 to 20,404 in 2007. The figures are expected to increase by another 28,000 this year.
The numbers used by the Greater Minnesota Housing Fund to calculate their figures came from actual sheriff sales in each county.