Minnesota Foreclosure LawyerMortgage foreclosure has been a big issue for millions of Americans over the last decade. Some got in over their heads with high monthly payments, or were given too generous a loan for their means and the result is that many of these individuals have ended up facing the mortgage foreclosure process. This is an extremely stressful situation — the idea of losing your beloved home is overwhelming and sad. One of the most important things that you can do if you are facing foreclosure is to understand the process every step of the way so that you can be informed and proactive, rather than being surprised at every turn.

Types of Foreclosure

In Minnesota, there are two ways for mortgages to be foreclosed — by advertisement or by action. Foreclosure by advertisement is the more common mechanism, giving the owner notice of the pending foreclosure and providing six weeks for the owner to bring the mortgage current. This advertisement is also included in the local newspaper and if the mortgage is not brought current in the six week timeframe, it is auctioned off to the highest bidder at a sheriff’s sale. The owner then has a six month redemption period where he/she can redeem the property by paying the full mortgage including accrued interest, principal as well as the foreclosure costs by the expiration date. If the redemption period passes without this payment, the owner is evicted. The less frequent foreclosure by action occurs when a lawsuit is initiated to investigate the validity of the mortgages or other legal issues.

A real estate attorney is very important to this process, providing guidance and advice about the many issues that come up in the foreclosure process, such as title issues, property value, possibility of a short sale, and maintaining rights as the property owner.

Kallemeyn & Kallemeyn Can Help During the Foreclosure Process

If you are in the Minneapolis St-Paul area and looking for Minnesota foreclosure help, contact the experienced and trusted team at Kallemeyn & Kallemeyn. Charles Kallemeyn has been practicing in the state since 1988 and is a Real Estate Specialist as certified by the Minnesota Bar Association. This means that he focuses more than 50% of his practice on real estate cases, has passed the rigorous Property Certification Exam and stays current on all types of real estate issues by attending Continuing Legal Education seminars. The net result of this for his clients is the strongest possible legal representation in all types of real estate cases, including foreclosure.

If you are facing foreclosure on your home, call us immediately at 1-763-427-5131 for help managing this difficult process.