Minnesota homeowners appear to be in much better financial shape than the average homeowner around the rest of the country.

The foreclosure rate in the state is far below average and falling. Minnesota was among the five states with the lowest foreclosure inventory in the nation, according to CoreLogic's National Foreclosure Report for June. The foreclosure inventory represents the number of homes at some stage of the foreclosure process.

With a foreclosure inventory rate of just 0.3 percent, Minnesota was tied with Colorado, Michigan, Nebraska and Utah. And though the foreclosure inventory rate was nearly 40 percent fewer than last year, the number of completed foreclosures in the state was down 21 percent.

Nationwide, the trends were the same, though the total percentage of homeowners who were in trouble was much higher. During June, foreclosure inventory across the U.S. was down 25.9 percent, while 38,000 homes were lost to foreclosure — 4.9 percent fewer than June 2015 and 67.5 percent fewer than a peak of 117,835 in September 2010.

Since the financial crisis began in September 2008, about 8.4 million homes have been lost to foreclosure. And during June, approximately 375,000 or 1 percent of all homes with a mortgage were in some state of the foreclosure process, the lowest for any month since August 2007.

The report also tracked mortgage payment delinquencies, which suggests the situation will continue to improve. CoreLogic said the number of mortgages that were seriously delinquent (90 days or more past due including loans in foreclosure or real estate owned) during the month had fallen 21.3 percent from June 2015 to June 2016 to just 2.8 percent of all mortgages and the lowest in nearly nine years.

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