Missouri law allows for non-judicial foreclosures based on the terms of Missouri Statute and the
mortgage instrument for Missouri – the Deed of Trust. While many states use mortgages to provide
liens against real property to secure loans, Missouri uses a Deed of Trust. The Deed of Trust
creates a lien much the same as a mortgage. However, the Deed of Trust also grants the Trustee the
right to sell the property upon default without judicial action.
Millsap & Singer, P.C. serves as Trustee for non-judicial foreclosures throughout the State
of Missouri.
Where the borrower has defaulted under the terms of a Promissory Note and Deed of Trust,
the Trustee, may proceed to foreclose the lien against the real property. The Trustee
completes this task by examining title to the property, notifying interested parties by mail,
advertising a sale of the real property, and calling the foreclosure sale. Each
action is guided by Missouri Statute and the terms contained in the Deed of Trust. Optimally,
Millsap & Singer, LLC accomplishes all steps, including sale, within fifty-five (55)
days from referral by the lender. If all necessary documents are received at the time of
first referral this timeline can be reduced further.
Upon receipt of the proper documents, Millsap & Singer,
LLC handles all communication with title and publication vendors to properly advertise
and notice the sale. Millsap & Singer, LLC records all necessary documents, including
the appointment of successor trustee and trustee’s deed. Additionally, Millsap & Singer,
LLC notifies the lender of any title conditions, such as outstanding real estate taxes,
state and federal tax liens, and superior liens, which may affect the title obtained at sale.
Employees at Millsap & Singer, LLC personally cry each sale, assuring efficient,
professional handling of any issues which arise at the public auction. Where surplus funds
are obtained at sale, Millsap & Singer, LLC handles the disbursement of such funds, in
accordance with Missouri Law.
Not all Promissory Notes and Deeds of Trust conform with Missouri Law to achieve a
non-judicial foreclosure. The condition of title to the real property may complicate the
foreclosure process. Millsap & Singer, LLC routinely and efficiently handle such
non-conforming matters, regardless whether judicial foreclosure, title suits, or other
related litigation is required. Further, Millsap & Singer, LLC, as a full-service
law firm, handles all related actions, such as deficiency suits and redemption.
The following foreclosure-related services are provided to our clients at no additional cost:
- Customized status reports
- Prepare HUD Occupancy Letters
- Order VA Appraisals upon Request
- Prepare VA Forms 567 and 1805 upon request
- Full default processing services provided
- Same day acknowledgment of file received and sale results
- Notification of sale date within 5 days after receipt of file
- Overnight delivery of any funds received
Required Documentation for Foreclosure:
- Note - Original or Copy
- Deed of Trust - Original or Copy
- Original Appointment of Successor Trustee
- Account status information
- Written authorization to proceed with foreclosure
The attorneys at Millsap & Singer, LLC are available to address your questions with regard
to Missouri foreclosures.
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