FAQ's
Learn More About Distressed PropertyThe 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.
NOD:
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.
- Listing ID
- Built up Area
- Price
- Pictures
- Add date
- Featured
3104 Florida Avenue South, Saint Louis Park, MN 55426
Florida Avenue, Saint Louis Park, Minnesota 55426
3331 74th Street East, Inver Grove Heights, MN 55076
74th Street, Inver Grove Heights, Minnesota 55076
2531 Brookdale La N, Unit 2531, Brooklyn Park, MN 55444
Brookdale La, Brooklyn Park, Minnesota 55444
1638 Hampshire Avenue South, Saint Louis Park, MN 55426
Hampshire Avenue, Saint Louis Park, Minnesota 55426
3702 Brookdale Circle North, Brooklyn Park, MN 55443
Brookdale Circle, Brooklyn Park, Minnesota 55443
4669 Blaine Avenue, Inver Grove Heights, MN 55076
Blaine Avenue, nver Grove Heights, Minnesota 55076
204 Westminster Avenue Northwest, Watertown, MN 55388
Westminster Avenue, Watertown, Minnesota 55388
Resources
Click Here to Research NOD, Foreclosure, Redemption Period Terminologies and more…
Just Realty
Helping Property Owners Living in a Distressed Environment.
Just Lending
Fix up Funds. Seller Purchases. LOC’s. Lending Brokerage.
Do You Need Help?
Rob Just (612) 703-3814