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Atlas Law Firm Jan. 12, 2023

Foreclosure Timeline

Those going through a foreclosure have lots of questions to ask, such as how long does foreclosure take, what is involved in foreclosure, what options do they have and so on. Consulting an attorney is your best bet if you are late on your mortgage payments and are planning to go through a foreclosure in Minnesota.

We’ll take you step by step through the foreclosure process. The more you know the better decisions you can make about bankruptcy in Minnesota or how to handle a foreclosure.

Month 1

Day 1

Payment is late.

Day 15

Late fee is charged.

Month 2

Day 30

Loan in DEFAULT. Collection calls begin.

Day 45

Late Charges Accrue

Month 3

Day 60

Lender gives deadline to bring ALL payments current.

Day 61

If you have a conventional mortgage, the loan is sent to attorneys for foreclosure to begin.

Month 4

Day 90

Mortgage Payments 1-4 are due.

Day 91

If you have an FHA mortgage, the loan is sent to attorneys for foreclosure to begin.

Day 100

You receive a 30-day notice of the intent to foreclose (aka pre-foreclosure notice).

Month 5

Day 130

the pre-foreclosure letter equipres. The foreclosure advertisement runs in the paper for 6 weeks. Your have until the foreclosure sale date to bring all payments current. Attorney fees are added to the back payments.

Day 144

You receive the 6-week notice (aka foreclosure notice).

Month 6

Day 174

FInal day to bring mortgage current. To bring current, you must pay the entire amount that you are behind.

Day 175

Sheriff’s sale (aka foreclosure sale) occurs at the courthouse in the county where the property is located.


Day 355

If the loan is not paid in full, the owner must surrender the property.

Additional Notes

The redemption period is usually 6 months long, however there may be exceptions. Minnesota gives you this period to attempt to redeem the loan by either refinancing or trying to sell the house.

For more questions related to foreclosure in Minnesota, call our lawyers at Atlas Law Firm for a Free Initial Consultation at . Our bankruptcy attorneys will be happy to help you out. We have offices located in Anoka, MN, Bloomington, MN, Minneapolis, MN, St. Louis Park, MN, Edina, MN and Minnetonka, MN.


What Do I Bring to The Meeting of Creditors?  -

There are 2 things you must do after your case is filed: (1) attend the meeting of creditors (aka the 341 hearing); and (2) complete a debtor’s education course via phone within 75 days from the date your case was filed. The 341 hearing is sometimes referred to as the meeting of creditors because your creditors can attend the meeting and ask you questions about the information contained in your petition.

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