Mortgage Foreclosures

Mortgage foreclosures are legal actions taken to foreclose upon real estate as opposed to personal property. These are covered by Minnesota Statutes 580 through 582.

Mortgage Foreclosure by Advertisement
This is the most common type of foreclosure action. It is usually based upon some default in the terms of the mortgage. The attorney hired to conduct the foreclosure will prepare the appropriate Notice of Mortgage Foreclosure Sale, arrange for service and publication of notice, and the Sheriff's Office will conduct the sale. Some attorneys utilize the Sheriff's Office to utilize the notices while others only notify the Sheriff's Office of the sale. Since attorneys often do not involve the Sheriff's Office until the day of the sale, information may not be available if you call. Any questions regarding a sale or arrangements to re-instate a mortgage should be directed to the attorney preparing the sale, their telephone number is usually published with the sale notice located at the bottom of the sale notice.

Mortgage Foreclosures by Actions
These sales are conducted pursuit to a direct order from a District Court Judge for the Sheriff to sell a specific parcel of real property. The notices are prepared by the plaintiff's attorney, similar to the mortgage foreclosure by advertisement; however, the Sheriff or a deputy will sign a notice of sale. Service of the Notice of Sale is usually done by the Sheriff's Office, a posting of three public places in Meeker County as well as publication in the county's legal newspaper is required by law.

Sale Procedure
In both types of mortgage foreclosure sales, the sale is conducted by the Sheriff or his designee. In an open bidding process mortgage companies or the plaintiff's attorney will open a bid with the exact amount due at the time of the sale. Following the bid, other bidders are given an opportunity to bid. A successful bidder must have cash or certified funds available to pay the Sheriff's Office at the time of sale. The successful bidder will receive a Sheriff's Certificate of Sale that lists the name of the purchaser and the amount of the purchase. The Certificate of Sale is provided by the attorney and includes documentation proving that all statutory requirements have been completed.