The document provides information about Missouri's foreclosure laws. It states that Missouri allows both judicial and non-judicial foreclosure. For judicial foreclosure, a lawsuit is filed to obtain a court order to foreclose and auction the home. For non-judicial foreclosure, if a deed of trust or mortgage contains a power of sale clause, the lender can execute a sale through the trustee without court involvement, as long as notice is provided and the sale follows specified procedures.

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Quick Facts
WHY USE SHORT SALE US
Short Sale US © 2008
- Judicial Foreclosure Available: Yes
SUCCESS STORIES
- Non-Judicial Foreclosure Available: Yes
WHO QUALIFIES FOR A SHORT SALE
- Primary Security Instruments: Deed of Trust, Mortgage
FAQs
- Timeline: Typically 60 days
SHORT SALE NEWS
- Right of Redemption: Yes
VALUE YOUR HOME
- Deficiency Judgments Allowed: No
STATE FORCLOSURE LAWS
In Missouri, lenders may foreclose on deeds of trusts or mortgages in default
CONTACT US using either a judicial or non-judicial foreclosure process.
HIRE US Judicial Foreclosure
The judicial process of foreclosure, which involves filing a lawsuit to obtain a
court order to foreclose, is used when no power of sale is present in the
mortgage or deed of trust. Generally, after the court declares a foreclosure,
your home will be auctioned off to the highest bidder.
Non-Judicial Foreclosure
The non-judicial process of foreclosure is used when a power of sale clause
exists in a mortgage or deed of trust. A "power of sale" clause is the clause in
a deed of trust or mortgage, in which the borrower pre-authorizes the sale of
property to pay off the balance on a loan in the event of the their default. In
deeds of trust or mortgages where a power of sale exists, the power given to
the lender to sell the property may be executed by the lender or their
representative, typically referred to as the trustee. Regulations for this type of
foreclosure process are outlined below in the "Power of Sale Foreclosure
Guidelines".
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:
1. 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.
2. 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.