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Minnesota has seen tens of thousands of foreclosures over the past few years. The foreclosure process in MN has become an unfortunate path of many families and individuals. As a current home owner or potential home owner it is important to understand how and why foreclosure happens. Foreclosure generally happens when the property owner has a mortgage on the property and starts missing mortgage payments. However, there are other ways foreclosure can happen. For example, associations can foreclose on a unit within the association if dues are not current on that unit (make sure to read your association docs when you buy a property that is included an association).
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