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Missouri Foreclosure Laws

Judicial Yes
Non-Judicial Yes
Process Period 60 Days
Sale Publication 10 Days
Redemption Period 365 Days
Sale / NTS Trustee

Judicial Foreclosure: The in court process begins with the lender finding the borrower to be in default. In court proceedings usually only take place when an out of court process was unsettled, or when there is not a power of sale clause in the loan documents.

Non-Judicial Foreclosure: The out of court foreclosure process is much more common as most deeds hold a clause which allow the lender to sell the property if the borrower has defaulted.

Sale: Once it is determined that the borrower had defaulted on their property a notice of sale must be published in the local newspaper once a week on the same day each week for four consecutive weeks. This notice must also be sent to the borrowers at least 20 days prior to the sale. The notice should include the following information: the date, book and page of Deed of Trust, name of each grantor on the Deed of Trust, the time, terms, and place of sale, and a description of the property. The sale will be conducted as a public auction, anyone including the lender can place a bid on the property, and only if the lender is the winning bidder can the borrower still be able to redeem the property.

Additional Information on Missouri Foreclosure