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Foreclosure Process in Minnesota <br />Foreclosure by Advertisement <br />Lender calls and sends Receive default <br />a letter notice. Phone calls <br />and collection efforts <br />continue. <br />c r :c <br />'~ ~ ~ ~.~-~-'dx ~~' <br />__ __1 <br />. _ i e~ it <br />pre <br />for~,d pS~rP <br />C nOrj~e <br />Szt:^ date scheduled <br />_app~j ~ ~. <br />4r <br />rt ~'~ <br />;,~ - <br />Account forwarded to <br />foreclosing attorney (legal <br />fees accrue). Receive <br />Preforeclosure Notice. <br />Sheriff's Sale date <br />schedu{ed by attorney. <br />(Date published for <br />6 consecutive weeks.) <br />Occupant served with <br />notice of Sheriff's Sale <br />OFTIG~d:.'' 'J sr;au I~ ,;Ilo~d~ Ii ~;n ~ovaner, to pns~pone ` he. if"z Sale <br />i,~ urn tr,r ~.hoitF nrd rzdcri 1>'Ion pE~i god, Nustfile ft>r pnsiix~neniert <br />I,~:~.,-,~~~ r, d ie sale i_ publ!sh d end 15 days prior to Sala. <br />Pedemp~ion Period <br />Typically 6 months. May be 12 months if agricultural. <br />May be shortened to 5 weeks if property is abandoned or sale was postponed by homeowner. <br />Month 7 Month 2 Month 3 Month 4 Month S Month 6 <br />- - - -~ __ __ '_.T_..t.. _.._ .. <br />{ <br />You maintain the right to stay in your home <br />[To redeem the property you must pay off the entire Sheriff's Sale amount + interest and fees] <br />Deadline Ya bring <br />mortgage current <br />- j ~ - OR - ~ ~~~ct~or <br />Vacate Face eviction <br />`To speak with a foreclosure counselor in your area, contact the Minnesota Home Ownership Center at (866) 462-6466 or www.hocmn.org' <br />~~ <br />Minnesota ~ r r <br />___ <br />Home Ownership <br />----- <br />Center <br />Sheriff's <br />Sale <br />NC!'TG:I" s docu~-nent represents the mast common foreclosure process in MN and may vary. Inforrr~ation is not presented as legal advice. <br />~~? 2~1 U Mir~r~esata Name Ownership Center <br />