Foreclosure-by-Advertisement: Foreclosure Papers Must be in Order, Minnesota Supreme Court Rules

Court

Foreclosure papers must be in order, Minnesota Supreme Court rules

The state Supreme Court decision could boost homeowners fighting defective sheriff’s sales.

Minnesota’s Supreme Court has tightened the screws a bit on home foreclosures.

In a ruling out Wednesday, the state’s highest court decided unanimously that a foreclosing party must strictly comply with a state law requiring all the different banks and parties that have held a mortgage be clearly documented and filed before a foreclosure-by-advertisement can be initiated.

The case involved Doris Ruiz, a woman whose south Minneapolis duplex was foreclosed on by 1st Fidelity Loan Servicing. The court voided her foreclosure because 1st Fidelity filed its paperwork on the same day that it began advertising for a sheriff’s foreclosure auction on her home.

Her lawyer, Jonathan Drewes, said the decision sets a strict standard that could impact “hundreds” of potentially defective or illegal foreclosure sales in the state.

“I anticipate that many more lawsuits will arise in Minnesota over the coming year,” Drewes said.

More here…

Copy of the ruling below…

~

4closureFraud.org

~

Ruiz v. 1st Fidelity Loan Servicing, LLC

Leave a Reply