Legal Question in Real Estate Law in Minnesota

I Just lost my job. I will not be able to pay my mortgage. How long can I live in my house? what will happen to me after foreclosure?


Asked on 6/29/11, 8:27 pm

1 Answer from Attorneys
Nathan Hansen Nathan M. Hansen, Attorney at Law

In Minnesota, it takes about six months to foreclosure by advertisement. After that, there is a Sheriff's sale at which the mortgage holder will bid in with their mortgage. After the Sheriff's sale, there is a 6 month redemption period in which you can redeem if you pay off the mortgage. After the 6 month redemption period, you will have to move out and if you don't you will be evicted.

Filing a bankruptcy at a strategic time and greatly increase the amount of time you can stay in your house.

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Answered on 6/30/11, 9:55 am


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