Martin Z Sutis Blog

While MS foreclosure laws permit both judicial and non-judicial foreclosure proceedings, most of these are done out of court. This is because there is often a power of sale clause that permits the lender to sell the property in case of a default even without court intervention. The lender provides the borrower with a default notice and within 30 days or more, a foreclosure auction will be held. The period before the auction is known as the pre-foreclosure and the borrower can stop the proceedings at anytime by paying what is due including any expenses that the creditor has incurred.