Lien Foreclosure

Minnesota Lien Foreclosure Attorney

Mechanics Liens · Homeowners Association Dues

Because the housing bubble is bursting all over the Twin Cities area, mortgage foreclosures and lien foreclosures have risen dramatically over recent months. In the last year alone, our firm, Patrick Burns and Associates has assisted with over 300 foreclosures in the Minneapolis area. Experts say that foreclosures will increase in the next years as home buyers who took advantage of the housing boom and low interest rates, find they cannot keep up with rising expenses, higher interest rates, and increased property taxes. If you are a worried lien holder, contact us to discuss foreclosure actions against delinquent lien grantors.

• Cost-effective Strategies Creative Solutions for Legal Problems

Did you know that under Minnesota law, there are two ways to foreclose on a lien?

• The first is foreclosure by advertisement: In this process, the lien holder can foreclose on the property itself, but this may do a second or lower lien holder very little good if the condominium owner was over leveraged and there remains no equity once the first mortgage is paid off.
• The other is foreclosure by action: In this instance the lien holder must sue the party that granted the lien. The major advantage to filing a lawsuit, however, is that under this process, the lien holder obtains a personal judgment against the homeowner. If you have a judgment against the person, then you can pursue collections on any property of any sort, including income garnishment, to satisfy the judgment.

Read more about our homeowners association (HOA) practice.