Phone: 
612-990-9009
email:
Steven@StevenHong.com
Menu

Blog Post

The Foreclosure Process in Minnesota

There are two types of foreclosures that are commonly used around the country, Foreclosure by Advertisement and Judicial Foreclosure. In Minnesota Foreclosure by Advertisement is the process that is usually used.

The process is usually something like (but can vary from bank to bank):

  • missed payment notice
  • default / intent to foreclose letter
  • pre-foreclosure notice
  • Date of foreclosure published for 6 weeks
  • Sheriff's Sale
  • 6 month redemption period
  • End of redemption

At the end of redemption, the bank takes the home back. If you are still living in the house, they can evict you since they now technically own the house.

There is a nice timeline graphic made by the Minnesota Home Ownership Center. You can get this graphic by supplying your email in the form below.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Steven Hong - RE/MAX Results 
REALTOR, e-PRO, GREEN, Old Home Certified 
7700 France Ave S #230, Edina, MN, 55435 
612-990-9009 (cell) 
952-915-2252 (office)
Licensed in Minnesota. Disclaimer: Each office independently owned and operated. Privacy Policy
linkedin-squaretwitterfacebookgoogle-plus