Mortgage Foreclosure Attorney MN

Action vs Advertisement Foreclosure

Mortgages may be foreclosed by action or by advertisement. Foreclosure by action means that a lawsuit is commenced to determine the validity of the mortgage and resolve other issues, but the overwhelming majority of foreclosures are by advertisement under Minnesota statute Chapters 580 and 582. Foreclosure by advertisement means that the owner is given notice of the default and at least 6 weeks in which to bring the mortgage current. During that time, the notice of foreclosure is advertised in the newspaper. There is no Court involvement. If not brought current, the property is sold at the sheriff’s sale to the highest bidder. Thereafter, there is a six month redemption period in which the owner may redeem the property by fully paying the mortgage, including cost of foreclosure, accrued interest and the principal. The owner has the right to occupy the property without paying anything during the redemption period, but if the mortgage is not fully paid by the expiration of the redemption period, the owner will be evicted.

This is only the briefest explanation of how a foreclosure occurs. Each one is unique because of title issues, value of the property, the possibility of a workout or short sale (convincing the lender to accept less) and many other factors. This is one area where it is essential to contact your lawyer, or risk losing the rights you may have.

I am happy to address legal questions you may have. Please email any suggested topics to