Mortgage Foreclosure
How to Stop a Foreclosure Without Filing Bankruptcy
Yes, in Minnesota you can stop a mortgage foreclosure, and save your home, without filing bankruptcy. What’s more, there are two ways to accomplish this important result. The Minnesota legislature recently enacted two new statutes allowing a homeowner to stop a residential mortgage foreclosure. These were enacted in response to the housing market meltdown —…
Read MoreYou Don’t Need Bankruptcy To “Discharge” Your Home Mortgage After a Foreclosure
Good news for Minnesota homeowners whose monthly mortgage payments are so high that paying the mortgage is next to impossible: the myth that you have to pay the mortgage lender whatever its losses are after a foreclosure is just that, a myth. This is because Minnesota Statutes section 582.30, and section 580.23, prevent a mortgage lender…
Read MoreThree Years After a Mortgage Foreclosure, You’re Eligible for a New Mortgage, FHA Says
The federal mortgage guaranty agency’s regulations say that three years after a mortgage foreclosure, you’re once again eligible for a home mortgage without regard to the prior foreclosure. Although you may think this is too good to be true, it’s true anyways, as FHA and HUD regulations show. You might think you heard that you…
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