Minnesota Foreclosure Law

Foreclosure law permits both a mortgage or a deed of trust. In Minnesota a non-judicial foreclosure is called a sale by advertisement. A sale by advertisement allows many defenses against a foreclosure to be waived.

The most common type of foreclosure is non-judicial under a deed of trust.

Redemption is rare in Minnesota. The redemption period varies depending on the type of property and the wording of the mortgage. The statutes uses the term “redemption” for both redemption and reinstatement. The redemption period appears to be about five weeks in either case.

Deficiency judgment are allowed in Minnesota for a judicial foreclosure, but not for non-judicial (which is the most common).

You may also want to consider checking out a LegalMatch attorney. Their attorney’s are prescreened and the initial consultation is free and confidential. For further information about foreclosure read The Foreclosure Survival Guide: Keep Your House or Walk Away With Money in Your Pocket

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