The foreclosure on your home has already happened. You may feel frightened, embarrassed or even unsure about what to do next. It may seem like your life is in turmoil and that your home is unrecoverable. However, your rights do not end on the day of the sheriff’s sale. Instead, you have entered what is known as the foreclosure redemption period in Minnesota, and you may benefit from understanding your rights and when to call a Minneapolis foreclosure attorney.
Your Rights During a Minnesota Foreclosure Redemption Period
Typically, the redemption period following a foreclosure lasts six months. However, it may be extended to 12 months or shortened to as little as 5 weeks. The exact time of the redemption period should appear on the sheriff’s notice of sale. During this redemption time, you have the right to:
- Live in the home.
- Pay off the entire balance of your mortgage and own the property, despite the sheriff’s sale.
- Sell the home and retain any equity.
In other words, a sheriff’s sale does not necessarily mean that you must vacate the property immediately. You may still have the option to live there temporarily, or permanently.
When to Call a Minneapolis Foreclosure Attorney
It is important to contact an experienced Minneapolis foreclosure lawyer immediately if you have received a foreclosure notice or if the sheriff’s foreclosure sale has already occurred. Your attorney will advise you of your rights and help you make the decisions that are right for you and your family.
To learn more, please contact Attorney Barry Rosenzweig for a FREE consultation. Attorney Rosenzweig understands that you are more than the total of your debts and will work hard to get you the financial outcome you deserve. To learn more, please call MN (952) 920-1001 or AZ (480) 207-2203, and browse the diverse and informative resources available on our website.