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Posted by steele in minnesota on October 17, 2006 at 05:50:53:
In Reply to: MN Sheriffs sale was in June, Now what? posted by Kate on October 16, 2006 at 07:23:06:
: My home went through a Sheriffs sale on June 8. Because I'm in MN, I guess I have another 6 months to redeem the house. I don't want the house. Will I be free and clear of it after December 8? I have heard almost nothing from the mortgage company. Thanks.
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Yes, December 8th will be the "big day" as long as you are living in the property (a lender can shorten our six month redemption period to 5 weeks if a property is abandoned). And you will "probably" be clear of it. According to the various state charts Minnesota is more difficult for a lender to sue you for any difference lost, a deficiency judgement.
But you might want to double check that with a real estate attorney versed in foreclosure law.
Steele V. Propp
Foreclosure Specialist
Bank Owned Homes Division
Schatz Group GMAC Real Estate
Minneapolis, MN
612-325-6764
steelep@aol.com
