When a property is in the foreclosure process, a mortgagor may request a hearing to reduce the redemption period. This is often based on a claim that the property has been abandoned.
A new law signed by Gov. Tim Pawlenty states that a defendant’s failure to appear at the hearing is “conclusive evidence” that the property has been abandoned.
Because of the recent increase in foreclosures, vacant homes have become a problem for some neighborhoods. Rep. Debra Hilstrom (DFL-Brooklyn Center) said the law is an attempt to work with the cities so that abandoned buildings do not become public safety issues. Hilstrom and Sen. Linda Higgins (DFL-Mpls) sponsor the law.
The law was also the result of work completed by a Vacancy Working Group convened last summer to discuss the sharp increase in vacancies and abandonments, and the impact on municipalities.
Signed into law April 4, 2008, it is effective immediately.
HF3474/SF2918*/CH178
At Issue: The land trust model
A new way to help homeowners and their neighborhoods
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At Issue: Bipartisan focus on foreclosures
House moves on to help with mortgage foreclosure crisis
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Published 4/4/2008