MN SF182

Establishes a foreclosure moratorium allowing homeowners to stay foreclosure proceedings on their primary residence until June 30, 2014, if they maintain homestead status and make reasonable affordable monthly payments (not exceeding 41% of documented gross income).

Requires landlords facing foreclosure to limit new leases to two months or less (or time remaining in cancellation/redemption period) and must notify prospective tenants in writing of the foreclosure status and utility service rights.

Allows longer-term leases if the mortgage holder or contract for deed holder agrees not to terminate the lease for at least one year except for lease violations.

Establishes tenant protections after foreclosure by requiring new owners to maintain rental properties as rental, offer renewal leases at fair market rent, and prohibits evictions without cause (non-payment, lease violations, nuisance, illegal use, or denied access for repairs).

Exempts single-family homes and portions of multifamily properties that new owners intend to occupy as a primary residence within 60 days from tenant protection requirements.