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Minnesota Foreclosure Law

HomeForeclosureMinnesota Foreclosure Law

Minnesota foreclosure law gives lenders the option to carry out foreclosure processes through judicial or non-judicial routes.

  • Under the judicial route of Minnesota foreclosure law, a lawsuit will have to be filed in the court to which the borrower has to respond within the ordained period.
  • The court, if convinced of default by the borrower, will order foreclosure of the property.
  • The lender has to issue a notice to the borrower specifying the loan amount, interest payable, default amount, description of the property, etc. and also record it in the county in which the property is located.
  • The county sheriff is responsible for conducting the sale of the property based on the notice for sale.

Want to know how you can prevent foreclosures? Read it here

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