Here is a summary of foreclosure laws and rules for the State of Mississippi:
- Lenders can use either a mortgage or deed of trust. Lenders primarily use deed of trust and foreclose by trustee sale.
- The foreclosure begins with publication.
- It can take up to 90 days to process the documents and the date of publication must be published for 30 days.
- There is no right of redemption. The surplus from the sale, if any, goes to secondary lenders.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in Mississippi those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.
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