Mortgage Foreclosure: Minnesota's Foreclosure Process

When a payment is missed this process begins:

Lender calls and sends a letter stating a payment was missed.
Homeowner receives Default and Intent to Foreclose Notice.
Homeowner receives Preforeclosure Notice.
The account is given to a foreclosure attorney and legal fees can begin accruing.

Sheriff’s Sale scheduled by the attorney

Information on a Sheriff’s Sale must be announced and published at least six weeks ahead of time.
Homeowner is served with notice of Sheriff’s Sale four weeks before the sale date.
Homeowners may postpone a Sheriff’s Sale in exchange for a shortened redemption period.
Postponement paperwork deadline is 15 days before the Sheriff’s Sale.
The Sheriff’s Sale is the deadline to bring the mortgage current.

Redemption period follows the Sheriff’s Sale

Typically six months (12 months if agricultural).
Shortened to five weeks if property is abandoned or Sheriff’s Sale was postponed by homeowner.
Homeowners may stay in their home during the redemption period.
To redeem and keep the property, homeowners must pay off Sheriff’s Sale price plus interest and fees.
At the end of the redemption period homeowners must vacate or face eviction.
See the entire foreclosure timeline on a calendar.