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Mississippi Foreclosure Laws

Judicial Yes
Non-Judicial Yes
Process Period 90 Days
Sale Publication 30 Days
Redemption Period None
Sale / NTS Trustee

Judicial Foreclosures: In court foreclosure proceedings are sometimes used, but an out of court procedure is more common.

Non-Judicial Foreclosures: In Mississippi an out of court proceeding is the most common. This is often the case because a deed of trust usually has a clause allowing the lender to sell the property of the borrower defaults. A borrower will typically receive a notice of default 30 days before the foreclosure sale. The borrower has the opportunity to stop the foreclosure process by paying off the default amount along with any other foreclosure expenses.

Sale: The lender must post the notice of sale at the courthouse as well as publish the notice in the local newspaper for three consecutive weeks. The notice should include the description of property, deed of trust information, and the time place and terms of sale. The winning bidder if someone other then the lender must pay the sale amount is cash. Following the payment the sale is official and the ownership is given to the winning bidder.

Additional Information on Mississippi Foreclosure