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Missouri Foreclosure Laws
Before you act, please consult with one of our Loan Modification specialists. Complete the Loan Modification form and we will provide you with a free Loan Modification Evaluation. We may be able to help you stop foreclosure.
| Judicial Foreclosure Available: |
Yes |
| Non-Judicial Foreclosure Available: |
Yes |
| Primary Security Instruments: |
Deed of Trust, Mortgage |
| Timeline: |
Typically 60 days |
| Right of Redemption: |
Yes |
| Deficiency Judgments Allowed: |
No |
In Missouri, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.
Judicial Foreclosure
Judicial Foreclosure involves the sale of the mortgaged property under the supervision of a court. The property is subject to auction by the county sheriff or some other officer of the court. The proceeds first go to the lender to satisfy the mortgage; then other lien holders; and, finally, to the borrower if any proceeds are left. All parties must be notified of the foreclosure. A judicial decision is announced after pleadings at a hearing in a state or local court.
Non-Judicial Foreclosure (Power of Sale)
Also known as Foreclosure by power of sale, Non-Judicial Foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. This process involves the sale of the property by the mortgage holder without court supervision. It is generally more expedient than foreclosure by judicial sale. As in judicial sale, the mortgage holder and other lien holders are respectively first and second claimants to the proceeds from the sale.
Power of Sale Foreclosure Guidelines
If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the foreclosure may proceed as follows:
- A notice of sale must be mailed the borrower, at his last known address, at least twenty (20) days prior to the scheduled day of sale. The notice of sale must also be published in a newspaper within the county.
- The sale is conducted by the trustee at public auction for cash to the highest bidder. Anyone may bid, including the lender. If the lender is the winning bidder, the borrower has one year (12 months) to redeem the property.
United States Foreclosure Law
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