Foreclosure in Missouri is the process by which the Lender sells real estate which secures a loan.  A document called a Deed of Trust makes the real estate collateral for the loan.  In the event the loan is not paid when due and goes into default, or in the event it is not paid after maturity, the Lender has the option to exercise its rights under the Deed of Trust to require the Trustee to sell the real estate at a public auction.  In order to do this the Lender and Trustee must comply with Missouri Statutes and other Laws.  Normally the Lender makes Demand for payment and advises the Borrower that if payment is not received by a certain date the foreclosure process will begin.  In order to foreclose on the property a legal Notice must be published for twenty-one (21) consecutive days prior to the sale.  This legal Notice is usually published in the following papers in this area: ……..

At the sale the Trustee sells the property to the highest bidder, or if there is an insufficient amount bid, the Lender can acquire Title to the property.  The Trustee executes a document called a Trustee’s Deed and after recording the Borrower losses the right to own the property.

A Borrower has several options when faced with foreclosure including bankruptcy, filing a Notice of Intent to Redeem and otherwise.