MN SF1448

Mortgagees must defer foreclosure commencement or continuation for at least 12 months upon request from mortgagors who have lived in their home for at least 10 years and have at least one unemployed household member eligible for or whose unemployment compensation eligibility has expired

Mortgagors who have lived in their home for at least 20 years may request and receive a mandatory 24-month foreclosure deferral under the same unemployment eligibility conditions

Mortgagors may request a deferral at any time before or during a foreclosure proceeding

Mortgagees may petition district court during the deferral period to require the mortgagor to make partial monthly mortgage payments not exceeding 30 percent of their income, with no more than one such request per 12-month period

Mortgagees must notify potentially eligible mortgagors in writing of their rights under this provision as part of the default notice; interest may continue to accrue on the loan unless otherwise agreed