Atlas Law Firm

Category: Foreclosure


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… Read More

MN Passes Law That Stays Foreclosure If Homeowner Is Applying For Modification

Governor Dayton recently signed into law a bill that was passed unanimously by the House and Senate. The new law creates new loss mitigation and “dual tracking” requirements. Dual tracking is the practice under which mortgage lenders simultaneously process an application for a loan modification and proceed with a foreclosure. In the past, homeowners have lost their home to foreclosure while going through the mortgage modification process. Dual tracking is a process that creates a catch 22 for homeowners in need of help with their mortgage terms. The mortgage lenders would explain to homeowners that they would not consider a… Read More

Foreclosure Filings Plunge 23 Percent Year-Over-Year

New research indicates that overall foreclosure activity dropped in April, providing further evidence that the housing market is continuing to recover following the Great Recession. Recently on this blog, we reported that completed foreclosures in the United States had increased 6 percent from February to March. However, new research indicates that overall foreclosure activity dropped in April, providing further evidence that the housing market is continuing to recover following the Great Recession. According to RealtyTrac, a real estate information company and an online marketplace for foreclosed and defaulted properties, the number of foreclosure filings decreased 5 percent from March to… Read More

CoreLogic: Completed foreclosures increase 6 percent from February to March

The number of completed foreclosures rose from 52,000 in February to 55,000 in March, a 6 percent increase. Compared to this time last year, foreclosures are down an impressive 16 percent, falling from 66,000 in March 2012. On April 30, information and analytics company CoreLogic released its March National Foreclosure Report, which provides information about the amount of repossessed homes across the United States during a one-month period. According to the data, the number of completed foreclosures rose from 52,000 in February to 55,000 in March, a 6 percent increase. Compared to this time last year, foreclosures are down an… Read More

Report: Ramsey home values hurt by foreclosures

Ramsey County saw more than 19,000 foreclosures during the four-year study period, which covered 2008 to 2012. In recent posts, we've been breaking down “The Wall Street Wrecking Ball: What Foreclosures Are Costing Minnesotans and What We Can Do About It,” a report released in March that extensively detailed the economic effect the real estate market collapse has had on area home values, and by extension, Minnesota property owners. Compiled by Minnesota groups like Neighborhoods Organizing for Change and the Northside Community Reinvestment Coalition, perhaps most notable among the study's conclusions is that it suggests certain counties were more adversely… Read More

Report: Anoka County saw $2 billion loss in home values from 2008 to 2012

In total, the report found that Anoka County had the third highest number of foreclosures during the four-year study period, following Hennepin and Ramsey, respectively, with 15,697. In a recent article on this blog, we discussed a report compiled by local social justice groups and grassroots organizations that aimed to assess the damage foreclosures have had on area communities. Formally titled “The Wall Street Wrecking Ball: What Foreclosures Are Costing Minnesotans and What We Can Do About It,” the study took a close look at how each Minnesota county was affected by the nation's housing market troubles. Our last piece… Read More

Hennepin County home values hampered by recession

This past March, several grassroots and social justice organizations, including Minnesotans for a Fair Economy, Neighborhoods Organizing for Change and Northside Community Reinvestment Coalition, came together to release a report that aimed to assess the impact of foreclosures on residents of the North Star State. This past March, several grassroots and social justice organizations, including Minnesotans for a Fair Economy, Neighborhoods Organizing for Change and Northside Community Reinvestment Coalition, came together to release a report that aimed to assess the impact of foreclosures on residents of the North Star State. Entitled “The Wall Street Wrecking Ball: What Foreclosures Are Costing… Read More

Stop your Minnesota home from becoming a “zombie” foreclosure

On March 28, RealtyTrac, an online database specializing in foreclosure listings, released a new report that provided insight into the nation’s continued housing troubles. On March 28, RealtyTrac, an online database specializing in foreclosure listings, released a new report that provided insight into the nation's continued housing troubles. According to the survey, there are now more than 300,000 “zombie” properties in neighborhoods and communities across the United States. The term “zombie” foreclosure refers to homes that have become vacant under bank ownership, and as a result, have fallen victim to vandalism and disrepair, thus limiting their appeal to new buyers.… Read More

Minnesota resident ends two-year foreclosure battle

By alerting a law firm that specializes in Minnesota foreclosure assistance to your plight, you can review available options, such as loan modification, Chapter 13 bankruptcy and foreclosure postponement. In early 2011, Minnesota resident Caylin Crawford found herself in need of assistance. Due to a snowboarding injury she sustained, the 24-year-old homeowner was unable to keep up with mortgage payments. As a result, she called her bank to ask about loan modification, a legal process that can help keep property owners in their homes. However, this move ultimately led to two years of legal battles between Crawford and her bank.… Read More

Anoka County man provides reminder of the importance of proper conduct following foreclosure

At The Atlas Law Firm, we can help you determine whether an Anoka County foreclosure is the right choice for your budget and advise you on the legal ramifications of your decision. On Tuesday, February 26, Donald Mordal, a 46-year-old businessman from Anoka County, was found guilty of illegally removing property from a foreclosed building – in this case, the site of his former business operations. According to a report in the Minneapolis Star Tribune, Mordal caused more than $40,000 worth of damage when he removed doors and windows, as well as a retaining wall, landscape boulders, cabinets and plumbing… Read More

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