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Foreclosure in Ramsey : Real Estate Advice

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Activity 3
Thu Jun 14, 2012
Christopher Block answered:
Minnesota is a Non-recourse state, so if you only have 1 mortgage they can not pursue you after a foreclosure for a deficiency.

Where this changes is for 2nd mortgages and multiple liens. They do have a legal right to pursue a homeowner through a judgement.

I have pasted a link to my blog that talks about this topic more in depth. In my opinion those with multiple mortgages & HELOC's are the best candidates for short sales. If you would like to speak with me directly just contact me directly on Trulia!

~Chris
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0 votes 5 answers Share Flag
Sun Feb 24, 2013
House Geeks answered:
Yes, in most cases it is 6 months. Have you had the sheriff sale yet? I put a link below you may find helpful.

Kirk Duckwall
The Duckwall Team of Realtors
Edina Realty
651-303-0019 ... more
0 votes 8 answers Share Flag
Sun Aug 17, 2008
Cameron Piper answered:
Barry,

Chances are likely that you will need to leave your home. Be leary of anyone offering to provide you "the miracle" that alows you to stay. My heart goes out to you and your situation. If you post back with some more information about your situation, other agents and myself will be able to talk you through it.

When was the last payment to your mortgage company? How far behind are you? What do you feel that your home is worth? How much do you owe? Have you received a notice saying that the sherrif will auction your property at the county courthouse?

Looking forward to helping in any way possible.

Cameron Piper
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