FAQ'sLearn More About Distressed Property
The Typical Progression of a Foreclosure in Minnesota:
A Property Owner Receives a Notice of Default NOD. The Sheriff’s Sale takes place no less than 5 weeks after the NOD. After the Sale the property is In-Foreclosure and in the Redemption Period. During this time the owner has 6 months to redeem the loan before the Lender can take possession.
A public notice from a lender advertising that they are beginning the Foreclosure Process. Initially, the property owner has 90 days before the Sheriff’s Sale to pay the overdue amount to the Foreclosing Lender, or renegotiate, or refinance, or sell.
Sheriff’s Sale: An Auction of the Foreclosing Lien and/or Property at the Sheriff’s Office.
Redemption Period: In this period, the Property is In-Foreclosure. This is the time allowed from the Sheriff’s Sale to the Redemption Expirations date. When the redemption period expires, the Bank/Buyer repossess the Property and can evict the (previous) owner. Typically, in Minnesota, this is a 6 month period. Sometimes it is as long as 12 months or as short as 5 weeks.
During the Redemption Period, the Owner can still avoid eviction by redeeming the loan by paying the entire balance.
10408 Arrowhead Street Northwest, Coon Rapids, MN 55433
Arrowhead Street, Coon Rapids, Minnesota 55433
11724 Bittersweet Street Northwest, Coon Rapids, MN 55433
Bittersweet Street, Coon Rapids, Minnesota 55433
10540 Unity Street Northwest, Coon Rapids, MN 55433
Unity Street, Coon Rapids, Minnesota 55433
1638 Hampshire Avenue South, Saint Louis Park, MN 55426
Hampshire Avenue, Saint Louis Park, Minnesota 55426
5300 Bloomington Ave #55417, Minneapolis, MN 55417
Bloomington Ave #55417, Minneapolis, Minnesota 55417
8525 Pillsbury Avenue South, Bloomington, MN 55420
Pillsbury Avenue, Bloomington, Minnesota 55420
10025 Russell Ave N, Apt 7G, Brooklyn Park, MN 55444-1048
Russell Ave, Brooklyn Park, Minnesota 55444-1048
Off-Market, Cash Buyer, New Hope MN, 3bd, 2ba SFR
8600 34th Ave, New Hope, Minnesota 55427
5931 Vincent Avenue North, Brooklyn Center, MN 55430
Vincent Avenue, Brooklyn Center, Minnesota 55430
1510 University Avenue Northeast, Minneapolis, MN 55413
University Avenue, Minneapolis, Minnesota 55413
5520 James Avenue North, Brooklyn Center, MN 55430
James Avenue, Brooklyn Center, Minnesota 55430
8461 Thomas Courtt N, Brooklyn Park, MN 55444-1587
Thomas Courtt, Brooklyn Park, Minnesota 55444-1587
1257 Smith Avenue South, West Saint Paul, MN 55118
Smith Avenue, West Saint Paul, Minnesota 55118
Click Here to Research NOD, Foreclosure, Redemption Period Terminologies and more…
Helping Property Owners Living in a Distressed Environment.
Fix up Funds. Seller Purchases. LOC’s. Lending Brokerage.