Senate backs foreclosure delay
ST. PAUL - Senators said they were responding Monday to reckless residential mortgage lending practices when they approved a plan giving some homeowners facing foreclosure temporary reprieve.
The Minnesota Senate passed 34-29 a bill allowing some mortgage borrowers on the verge of foreclosure a delay making payments of up to one year. The delay is meant to give them time to negotiate new mortgage terms and avoid foreclosure.
Are you a newspaper subscriber but you don't have a Digital Access account yet? https://secure.forumcomm.com/?publisher_ID=40&event=subscriber/lookup.
You will need your subscription account number and phone number. Not sure if you have an account? Email us at email@example.com and we can help you.