[Your Name] [Your Address] [City, State, ZIP] [Date] [Junior Lien Holder's Name] [Junior Lien Holder's Address] [City, State, ZIP] RE: Notice of Sale of Property Located at [Property Address], Minnesota Dear [Junior Lien Holder's Name], I am writing to inform you, as the junior lien holder, of the impending sale of the property located at [Property Address] in Minnesota. As you are aware, your lien is subordinate to the senior lien holder, [Name of Senior Lien Holder], who has initiated the foreclosure proceedings on this property. According to the terms of your junior lien agreement, we are obligated to provide you with notice of the sale of the property. The sale is scheduled to take place on [Sale Date], at [Sale Time], at the [Sale Venue]. The purpose of this letter is to ensure that you are informed about the upcoming sale, giving you an opportunity to exercise your rights as a junior lien holder. We encourage you to attend the sale, or appoint a representative, to ensure transparency and allow you to bid on the property if you wish. Please be advised that the sale proceeds will firstly be used to satisfy the senior lien holder's debt and any associated costs, including foreclosure fees, attorney fees, and other charges related to the foreclosure process. If any funds remain after these obligations are met, they will be used to pay off the junior lien. However, please note that if the sale proceeds are insufficient to cover the full amount of the senior lien, your junior lien may be extinguished. As a junior lien holder, it is important for you to assess your interests and protection, consult with your legal counsel, and decide on the appropriate actions to be taken regarding your lien. We recommend that you promptly review this information and respond accordingly to protect your rights. If you have any questions regarding the sale process or require additional information, please do not hesitate to reach out to me at [Your Phone Number] or [Your Email Address]. I will be happy to assist you and provide any necessary documentation related to the foreclosure proceedings. Thank you for your attention to this matter. Sincerely, [Your Name] [Your Title/Organization]
Minnesota Sample Letter for Notice of Sale to Junior Lien Holder
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How to fill out Minnesota Sample Letter For Notice Of Sale To Junior Lien Holder?
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