North Dakota

Quick Facts

–  Judicial Foreclosure Available: Yes

–  Non-Judicial Foreclosure Available: No

–  Primary Security Instrument: Mortgage

–  Timeline: Typically 90 days

–  Right of Redemption: Yes

–  Deficiency Judgments Allowed: Yes

In North Dakota, lenders may foreclose on a mortgage in default  by using the judicial foreclosure process.

Judicial Foreclosure

Generally, in judicial foreclosure, a court decrees the amount  of the borrowers debt and gives him or her a short time to pay. If the borrower  fails to pay within that time, the clerk of the court then advertises the property  for sale.

However, in North Dakota, the lender must give the borrower no  less than thirty (30) days advance notice of their intent to foreclose. Said notice  must be sent registered or certified mail no later than ninety (90) days before  the suit is filed and must contain: 1) a description of the real estate; 2) the  date and amount of the mortgage; 3) the individual amounts due for principal, interest  and taxes paid by the lender; and 4) a statement that a lawsuit will be filed to  foreclose if the amount is not paid within thirty (30) days from the date the notice  was mailed.

The borrower may stop the foreclosure process by paying the delinquent  amount, plus foreclosure costs, prior to the time the sale is confirmed by the court.

All sales in North Dakota must be made by the sheriff or his deputy  of the county and in the county where the property is located. The property will  be sold to the highest bidder, who will be issued a certificate of sale until the  borrowers redemption period has ended. Borrowers typically have a period of one  (1) year to redeem the property by paying the balance due on the loan, plus costs,  but it may be only six (6) months if the mortgage includes short-term redemption  rights.

It is possible to obtain a deficiency judgment against the borrower  in North Dakota.

More information on North Dakota foreclosure laws.

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