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Bill clarifies homeowners’ right to postpone sale applies to judicial foreclosures, committee refers it on
Summary
The committee approved re-referral of House File 1224 to Commerce, Finance and Policy after adopting an amendment; the bill clarifies that Minnesota’s right to postpone a mortgage sale applies in judicial foreclosures as well as foreclosure by advertisement.
The Judiciary Finance and Civil Law Committee re-referred House File 1224 to the Commerce, Finance and Policy Committee after adopting a DE1 amendment and hearing sponsor testimony that the bill resolves an ambiguity about postponement rights in judicial foreclosures.
Representative Freiberg said the statutory postponement option, enacted after the 2008–2009 foreclosure crisis to allow homeowners more time to reinstate a mortgage, was clearly available for foreclosures by advertisement but…
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