What is foreclosure?
Foreclosure is a legal action used by a mortgage company to recover money from a customer who does not pay his or her debt in accordance with the terms of the mortgage agreement.
Reasons for pending foreclosure
A homeowner may face sudden extenuating circumstances that force them to stop making timely payments:
- Rising interest rates
- Unemployment
- Divorce
- Health problems
- Death of a family member
Ways to avoid foreclosure
Beware of mortgage foreclosure and short sale scams
Need help understanding foreclosure?
'Making Home Affordable' plan:
What does it mean for Minnesotans?
Free foreclosure workshops and programs
Minnesota Home Ownership Program workshops
These workshops will provide information on what happens during foreclosures, homeowners' rights, and solutions for long-term housing needs. Participants will be able to ask questions and get free advice - confidentially - from mortgage lending and foreclosure specialists.
For more information and directions, see Minnesota Home Ownership Center.
Workshops on Video
The web-based workshop includes information about the foreclosure process, rights during foreclosure, and available assistance for homeowners, as well as renters.
Foreclosure information for military personnel
Foreclosure information for renters
Foreclosure listings
