|Displaying Foreclosure Homes in MN. Click the gray tabs to show other types of homes.|
|There are 25 new foreclosure listings in Minnesota this week. There are approximately 330 Minnesota foreclosure listings. Three of the new foreclosures this week are at 960 Carlos Timbers Dr Ne in Alexandria, MN, 291 W 7th St in Saint Paul, MN and 350 RUANN ROAD in WAYZATA, MN.|
7/2/2015 - View Article - In the midst of so many foreclosures and a multitude of those being rented property there are states that are starting to try to figure out ways to prevent properties from being rented when they are in the process of foreclosing. A city in Minnesota is already proceeding with penalties for landlords that decide to rent even though they know they will lose the property within days to months.
This past week St. Paul City put into effect a new ordinance that would punish landlords that rent out property that is being foreclosed. If foreclosure was already filed then they shouldn’t renting the property to unknowing renters. The renter will pay a deposit and the first months rent to only be locked out of the house days later. The city will remove all of the stuff in the home not realizing it is being rented out by another person or family and put a lock on the door to where the person renting cannot get in. The renter will have to contact the city to find out where their stuff went to and typically it is city storage. They will have so many days to pick their stuff up.
When something like this happens no one should pay other than the knowing landlord. They knew they weren’t going to be able to continue paying the mortgage and instead decided to find renters and take their money to put towards something else other than the mortgage. Not right and not fair to the renters. If the person renting out the property does not tell the renter of the situation then they will be committing a misdemeanor and will lose their right to rent out future property according to the new ordinance. This should help prevent future fraud.