This article discusses the basics of Minnesota foreclosures. This part addresses the impact a foreclosure of a first mortgage has on a second mortgage (home equity loans). This is part five of a series on Minnesota foreclosures. Minnesota Foreclosure Law Basics Foreclosure by Advertisement Foreclosure by Action Deficiency Judgments Foreclosure of a 2nd Mortgage So
Minnesota Foreclosure Attorney
Is your home being foreclosed? You may face eviction and liability for the amount owed on the mortgage plus legal fees for the foreclosure.
Are You Facing a Foreclosure?
A Minnesota foreclosure can be a frightening experience. A foreclosure is often the result of significant debt, financial hardship, and the failure to make mortgage payments. Don’t just give up, lose your home, and owe a substantial debt for the unpaid mortgage amount.
Most people in foreclosure have a number of options, depending on their mortgage agreement and the type of foreclosure elected by the lender. A Minnesota foreclosure attorney can analyze your mortgage agreement, explain your options, and fight for your rights.
Minnesota Foreclosure Options
Your options when facing the risk of foreclosure may include a deed in lieu of foreclosure, a short sale, or a foreclosure that does not involve a deficiency judgment that would make you liable for the amount of your mortgage that was unpaid. Other options may also be available, depending on your situation.
Mortgage Fraud or Misrepresentation
In some cases, people in foreclosure were taken advantage of by their mortgage broker or others in the lending process. These cases may include fraud or misrepresentation. Or these cases may simply involve a misunderstanding about how some loans work.
For example, during the loan process, there may have been promises of low interest loans, without buyers realizing that interest rates could drastically increase.
Similarly, a mortgage agent may have taken advantage of a person by offering to refinance their home, but then the person unwittingly signs documents transferring the home to another party. This type of mortgage fraud is illegal, and has severe consequences for the mortgage agent including liability to the victims of the scam.
Minnesota Foreclosure Attorney Help
An experienced foreclosure attorney can analyze your situation, explain your legal options, and help you move forward in the way that is best for your circumstances. Our experienced Minnesota foreclosure lawyers have helped many people facing foreclosure, with very satisfied clients who obtained everything they sought.
Contact a Minnesota Foreclosure Attorney
You are welcome to contact our office to have a Minnesota foreclosure attorney analyze your situation, inspect your foreclosure notices, interpret your mortgage agreement, and answer your questions.
Minnesota Foreclosure Defense: Attorney’s Fees Awarded to Homeowner
In a number of recent cases, Minnesota courts have ordered mortgage companies to cover attorney's fees in Minnesota foreclosure defense cases. Three examples are below. MN Fourth Judicial District (Hilleshiem v. Source Lending Corp.) MN Fourth Judicial District (Pelayo v. Ruben Gonzalez and Modificaciones de Prestamos) Case 0:06-cv-04611-DWF-AJB Document 64 Filed 03/05/10 Tomeka Wiley, v.
Foreclosure of a 2nd Mortgage in Minnesota
This article discusses the basics of Minnesota foreclosures. This part addresses the impact a foreclosure of a first mortgage has on a second mortgage (home equity loans). This is part five of a series on Minnesota foreclosures. Foreclosure Basics Foreclosure by Advertisement Foreclosure by Action Deficiency Judgments Foreclosure of a 2nd Mortgage So far, these
Minnesota Foreclosure Deficiency Judgment
Homeowners who are facing a foreclosure of their home are understandably concerned about the impact this will have on them and whether they will owe money to the mortgage company (hereafter "bank") after the foreclosure. This is part four of a series on Minnesota foreclosures, explaining deficiency judgments that result from a foreclosure in Minnesota.
Minnesota Foreclosures: Foreclosure by Advertisement
Many Minnesota homeowners are facing foreclosure during these difficult economic times. Minnesota homeowners may wonder about the foreclosure process in Minnesota and the legal consequences of a foreclosure. This is part two of a series on Minnesota foreclosures, and covers the basics of foreclosure by advertisement. Before reading this section, you might want to read
Minnesota Foreclosures: Foreclosure by Action
If the bank is foreclosing on your home, you may be wondering about the process and the legal consequences of a Minnesota foreclosure. This is part three of a series on Minnesota foreclosures, explaining foreclosure by action. For an overview of Foreclosure by Advertisement and Foreclosure by Action, read the first part on Minnesota Foreclosures.