Minnesota foreclosure

Although the Minnesota foreclosure process can be judicial, meaning that a lawsuit will be filed, it will usually be non-judicial. When a power of sale clause is found in the mortgage and assuming that a lawsuit has not already been filed, the non-judicial foreclosure process is followed. The non-judicial foreclosure process is only allowed in cases where the mortgage has been recorded and any assignments of the mortgage have also been recorded.

If the power of sale clause specifies the time, place and terms of the sale, then those are followed. If there is no power of sale clause or the time, place and terms of the sale are not specified, then the non-judicial foreclosure process is followed in this manner:

1. A notice of sale describing the property and the date, time and place of the sale must be recorded at the county of the property. This notice must also contain: borrower's and lender's names, original loan amount, amount in default and the date of the mortgage.


2. The sheriff of the county where the property is located will conduct the sale at public auction on the date specified in the notice.