MN HF3479

Mortgagors or owners of homestead properties with 1-4 dwelling units may postpone foreclosure sales by 5 months (for 6-month redemption periods) or 11 months (for 12-month redemption periods) in exchange for reducing their redemption period to 5 weeks

Expands eligibility to postpone sales to include personal representatives and heirs when the mortgagor or owner is deceased

Clarifies that the one-time postponement right applies once per foreclosure proceeding, rather than being permanently exhausted if the mortgagor reinstates the mortgage before the postponed sale

Updates the required affidavit form to reference postponement notices in addition to the original notice of sale, allowing postponement requests to be based on either document

Effective the day following final enactment for foreclosures with notice of pendency recorded on or after that date