Here is a summary of foreclosure laws and rules for the State of Missouri:
- In Missouri foreclosure law permits both mortgages and deed of trust.
- Lenders primarily use deed of trust and foreclose by trustee sale. The foreclosure begins with publication. It can take up to 60 days to process the documents and the date of publication must be published for 10 days.
- The redemption period is 365 days. Redemption is only allowed if the primary lender is the successful bidder. The rights of redemption are severely restricted in Missouri.
Much more information is available throughout this website, but for definitive advice ask a Missouri lawyer.