Minnesota stalls foreclosures with new law

Whenever foreclosures slow down in a state, legislation is usually the main reason. In Minnesota, financial firms are now having to heed the terms of a new law designed to give borrowers every existing option before a foreclosure is enacted.

The MinnPost has more:

Minnesotans who have struggled to make their mortgage payments will get new leverage for saving their homes beginning Aug. 1 under a law that tightens foreclosure rules in the state.

The new law doesn’t necessarily spare homeowners from losing their properties. Instead, it seeks to ensure that eligible borrowers have fair and clear access to every available option to avert foreclosure.

Most Popular Articles

UWM announces 1.99% rate for 30-year fixed mortgage

United Wholesale Mortgage announced Tuesday it is rolling out a new loan program that offers borrowers an interest rate as low as 1.99% for both purchase mortgages and refinances.

Aug 11, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please