Friday, May 11, 2012

A Little Unknown Minnesota Law: Homeowners Facing Foreclosure Can Delay Sheriff’s Sale for Five Months

A little known Minnesota law allows homeowners facing foreclosure to petition for a five-month delay of the sheriff’s sale — a period of time during which they have more leverage than after the sale. The Minnesota legislature passed this law two years ago, but it is not widely known, and banks rarely notify embattled homeowners of this right.

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