Minnesota's foreclosure activity dropped in June

Foreclosure activity in Minnesota was down about 6 percent in June compared to the same month last year, according to RealtyTrac, a national housing research firm.

Foreclosure activity was also down 2 percent in the second quarter of this year compared to the second quarter of 2009, RealtyTrac reported.

The drop was slightly less than the national average decline of 7 percent.

On a national level, RealtyTrac research showed the pace of properties entering foreclosure slowed due to more banks' aggressive short sale and loan modification programs in the second quarter of the year.

But the pace of foreclosures that result in bank repossessions quickened as banks dealt with a backlog of properties, which had been previously tied up in modification programs.

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