Minnesota Foreclosure Laws

[edit] Attorney General’s Office

102 State Capitol

St. Paul, MN 55155

Ph: (612) 296-6196

Fax: (612) 296-4193

First Legal Action: Publicaiton

Time Frame from 1st Legal Action to Sale Action: 60 Days- 12 Months

Final Legal Action: Sale Date

Judicial Foreclosure Available: Yes

Non-Judicial Foreclosure Available: Yes

Method Primarily Used: Non-Judicial

Security Instruments: Deed of Trust, Mortgage

Right to Redemption*: Yes; 6- Months, 12-Months if amount due > 2/3 of original indebtedness of parcel is > 10 acres

Deficiency Judgments Allowed: Yes

Foreclosure Postponement Available: No, Must Restart

Super Lien State:

Certified Breach Letter State: Yes

Lender Retains Copy of the Breach Letter: No

Eligible for Tax Advance Repayment Plans: Yes

Statutory State: Yes

*A borrower’s right to repurchase property lost in foreclosure sale.

- A judgment against ones person making the borrower responsible for the remaining balance on the loan after a foreclosure/sheriff sale.