Foreclosure Help in the Midwest

This is the part of the country where redemption periods actually matter.

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Several midwestern states give a homeowner months after the auction to redeem the property, often while still living in it. That changes the strategy considerably — the sale is not necessarily the end of the story here.

Illinois — 90-day reinstatement, and redemption that runs before the sale
Indiana — a settlement conference you must request within 30 days
Iowa — one year to redeem, and a delay-of-sale decision that cuts both ways
Michigan — six months to redeem, with possession
Minnesota — six-month redemption and generally no deficiency
Missouri — fast trustee sales and a redemption right that needs a bond
Nebraska — trust deed or mortgage — the answer changes which tools you have
North Dakota — judicial only, and no deficiency on an owner-occupied home
Ohio — a two-thirds appraisal floor and a two-year deficiency shut-off
South Dakota — a full year to redeem, and the right to force a court case
Wisconsin — redemption before the sale, traded against the deficiency

What is true across the region

Michigan, Minnesota, Iowa, South Dakota and North Dakota all provide meaningful post-sale redemption, and Michigan and Minnesota let you stay in possession during it. Illinois and Wisconsin run the opposite way: their redemption periods expire before the sale, which surprises people. Several states here also limit or bar deficiency judgments outright.

Looking for a state outside this region? The full state index covers all fifty states and the District of Columbia.

A note on what this page is

This is general information about how foreclosure works in these states. It is not legal advice and it is not a prediction about your loan. Timelines vary by lender, by servicer, by county and by the specifics of your file, and the law changes. If you are facing foreclosure, a conversation with an attorney licensed in your state is time well spent.

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KW Home Solutions, part of KW Default Solutions and powered by Keller Williams Realty. Corporate Office: Laguna Niguel, CA.

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