Missouri Foreclosure Process

Link to Missouri Foreclosure Laws

In Missouri Foreclosure the “In-court” type of foreclosure is called “Statutory Judicial”.

Foreclosure Overview

In a Missouri Foreclosure both in-court (Statutory judicial), and out-of-court (non-judicial) foreclosure proceedings are used. The basic timeline for a Missouri foreclosure is about 2 months.

In a Missouri Foreclosure both in-court (Statutory judicial), and out-of-court (non-judicial) foreclosure proceedings are used. The basic timeline for a Missouri foreclosure is about 2 months.

Judicial vs. Non-Judicial

Judicial Foreclosure

In Missouri Foreclosure the “In-court” type of foreclosure is called “Statutory Judicial”. In a statutory judicial foreclosure, the lender is allowed to commence foreclosure actions in the circuit court of the county where the property is located against a variety of people and entities.  The lender may bring suit against the original borrower, any persons who may have assumed the indebtedness, any and all junior lien holders or judgment creditors, any others who claim an interest in the real estate, and person or entity having right of possession.

Non-Judicial Foreclosure

Typically, Missouri foreclosures are non-judicial because a contractual Power of Sale is valid in Missouri, and such a clause is written into most all mortgages.

Generally, foreclosure of a Deed of Trust occurs after

  • default in performance pursuant to the terms of the Deed of Trust, more typically the terms of the promissory note secured by the Deed of Trust, and
  • the resulting acceleration of the entire debt due.

Notice of Sale & Auction

A Notice of Sale (NOS) is required to contain the date, book and page of the Deed of Trust, name of each grantor on the Deed of Trust, (typically the borrower), the time, terms and place of sale, and a description of the real estate to be sold. The notice must be published and mailed to all required parties.

A Notice of Foreclosure Sale must be printed in a local newspaper published in the county in which the real estate is situated at least once a week for a total of four weeks. The last publication cannot be more than one week before the sale date. Additionally, if the land is located in a “Missouri first-class County”, of which there are several, publication is for 21 consecutive days in a daily newspaper with the last day being the date of sale.

The notice of sale must be mailed to the borrower via certified or registered mail at least 20 days before the date of the foreclosure sale.

The property is sold at auction, usually at the county courthouse and sold to the highest bidder. After completion of the sale, a Trustee’s Deed is furnished to the highest bidder as soon as payment is made.

Missouri Foreclosure law provides for both statutory redemption rights and periods as well as common-law, equitable redemption.

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