If a Minnesota mortgage contains a power of sale clause then the lender may begin foreclosure proceedings without judicial involvement. The lender must follow strict rules about providing the borrower and the public with notice of the intended foreclosure. The foreclosure sale is conducted as an auction by the sheriff.
If, however, the mortgage does not contain a power of sale clause then the lender has to file a lawsuit and get court permission to have a foreclosure sale on the property.
Speak to an Experienced Foreclosure and Alternatives Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.