Despite a recent uptick in prices, many homeowners who bought their homes a few years ago are still in tough shape. The market fell so far so fast, the economy has stayed so sluggish, that large numbers of Minnesotans still face foreclosure or are in need of mortgage modification.
President Reagan used to joke that a recession is when a neighbor loses his job; a depression is when you lose your own.
The housing meltdown has exacted severe pain in the Twin Cities and across the country. Though the federal government has tried to respond with some relief, those steps have not always been enough for homeowners struggling to keep their homes out of foreclosure.