Postpone a Foreclosure (Sheriff) Sale - Do it Yourself

There is only a small window of time to file the Foreclosure Sale Postponement Affidavit. The deadline is 15 days before the current sale date.

How Can Postponing Foreclosure Help?

In Minnesota, foreclosures take either 6 or 12 months. Normally, the home is sold at auction (the "Sheriff Sale" or "Foreclosure Sale") six weeks after the notice of foreclosure sale.

After the home is sold at auction, you can only save it if you pay the full price the home was sold for at auction, plus costs. This is very hard to do.

Before the auction, there are easier ways to save your home. You can try to:

• get current on your mortgage,

• negotiate to change the loan's terms,

• find a new source of income,

• budget,

• and many other things.
   

The Foreclosure Sale Postponement Affidavit gives you time to try these things. You can learn about postponement and home-saving strategies at the Home Ownership Center of Minnesota.

Be careful of scams, and talk to a foreclosure counselor before you agree to a "Short Sale" or a "Discount Payoff".

How much extra time does the Foreclosure Sale Postponement Affidavit give me?

If your foreclosure would have taken 6 months, the form postpones the sale by 5 months. If your foreclosure would have taken 12 months, the form postpones the sale by 11 months.

Read the Your Rights in Foreclosure Fact Sheet for more information.

If you are at a library, you can skip this step of instructions. Public computers already have these programs installed. If you are using your own computer, make sure your computer has Microsoft Word.

(Note: Microsoft Word Pad is not the same as Microsoft Word and will not work with this program.)