The Minnesota Independent

Mortgage Crisis - Latest Stories

Tim Pawlenty in a recent campaign video

Pawlenty’s ties to Morgan Stanley execs scrutinized

By Andy Birkey | 06.08.11 | 11:00 am

Former Gov. Tim Pawlenty’s presidential campaign and political action committee has benefited from a large amount of money from top executives of Morgan Stanley, a global financial services corporation which has been implicated in the financial and mortgage meltdown that brought about the Great Recession. A report by the Center for Public Integrity released this week scrutinized Pawlenty’s ties to top executives at the company, finding that he’s raised more than $800,000 in the last month with their help.

Another Bachmann liability: Mortgage troubles abound in her district

By Molly Priesmeyer | 10.20.08 | 10:00 am

Even before her Friday Hardball debacle, Michele Bachmann faced a challenge back home that’s been little-noted but may pose difficulties for the first-term incumbent: the impact of the mortgage crisis in her suburban and rural district.

Depression-era cash box found in Wisconsin as Minnesota bank fails

By Chris Steller | 06.03.08 | 8:38 am

When a Minnesota bank becomes the nation’s fourth since December to fail (as happened Friday), and a Minnesota credit union gets hit with a cease-and-desist order from the state for being in the red (as…

Pawlenty’s veto of Foreclosure Deferment Bill is based on ‘threat of class warfare’

By Molly Priesmeyer | 06.02.08 | 9:53 am

In a move that political analysts say could hurt Tim Pawlenty’s VP chances, the governor vetoed the Foreclosure Deferment Bill on Thursday. The measure would’ve kept nearly 15,000 Minnesotans from losing their homes by…

Minnesota foreclosures rise 68 percent

By Molly Priesmeyer | 05.19.08 | 11:34 am

Foreclosures in Minnesota rose by 68 percent in April over the same period last year, according to the latest RealtyTrac study. Minnesota saw 1,405 foreclosures and 38 Notice of Defaults in April. In the first…

Why is it better to rent than buy in Minneapolis? I’ll take “negative equity” for $12,113, Alex

By Molly Priesmeyer | 05.08.08 | 2:49 pm

If you’re planning to sell your home between now and, say, 2012, it will cost you. In fact, it will cost you about ten grand. A joint report released today by the Center for Economic Policy Research…

Foreclosures and short sales make up nearly 30 percent of all Twin Cities home sales

By Molly Priesmeyer | 05.08.08 | 11:21 am

A new report by the Minneapolis Area Association of Realtors reveals that foreclosures and short sales accounted for 27.6 percent of all closed sales in the first quarter of 2008. During the first quarter of…

Wells Fargo: Minnesota’s No. 2 employer is No. 1 for targeting minorities with high-cost loans

By Molly Priesmeyer | 04.03.08 | 11:26 am

wellsfargoWells Fargo, Minnesota’s second-largest employer, holds the title of the largest financial institution in the state. The banking giant has what it calls banking stores (180 in Minnesota), mortgage stores and financial stores dotting every area of the Land…

Minnesota and the mortgage crisis: We’ve only just begun

By Molly Priesmeyer | 03.25.08 | 10:32 am

Mortgage fraud. Negative equity. Exotic loans. As the former assistant attorney general for the state of Minnesota and current attorney for the Housing Preservation Project, Mark Ireland has seen his fair share of…