This bill amends Minnesota Statutes regarding mortgage foreclosures, specifically clarifying the rights of mortgagors or property owners to postpone a mortgage sale. It allows the mortgagor, owner, or their personal representatives to postpone the sale of a property classified as a homestead, provided that the postponement occurs within specified timeframes related to the statutory redemption period. The bill introduces new requirements for the mortgagor to execute and record a sworn affidavit to effectuate the postponement, which will also reduce the mortgagor's redemption period to five weeks. Additionally, it specifies that no notice of postponement needs to be published, and the sheriff's certificate of sale must reflect the actual date of the foreclosure sale and the adjusted redemption period.

The bill also modifies the affidavit form required for postponement, ensuring it includes specific information about the property and the owner's intentions regarding the redemption period. Notably, it clarifies that the affidavit can be used for postponement under both the original notice of sale and any subsequent notice of postponement. The changes aim to streamline the foreclosure process while providing protections for property owners facing foreclosure.

Statutes affected:
Introduction: 580.07