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Stop Foreclosure - Mississippi |
Mississippi Foreclosure Law Summary
Most Common Method of Foreclosure: Power of Sale.
Preforeclosure Notice:
Number of Notices: One: Notice of Sale.
Amount of Notice Required: If by advertisement, three consecutive weeks before the sale.
Content of Notice: Name of the original mortgagor, terms and place of sale.
Method of Service: By advertisement, and by posting on the courthouse door.
Right to Cure Default/Reinstate: Up to the date of the sale.
Redemption: None.
Post-Sale Provisions Regarding Proceeds: Surplus goes to the mortgagor after junior lienholders are paid.
Deficiency: May be obtained in proceeding filed within one year from sale date. If mortgagee is high bidder at sale, deficiency may be denied if bid at sale is not reasonable.
Miscellaneous: The governor can declare a disaster and impose a moratorium on foreclosures for up to two years.
Stop Foreclosure Mississippi
Stop Foreclosure | Avoid Foreclosure
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