Foreclosure is a legal proceeding to terminate a debtor’s interest in property, instituted by the lender either to gain title or to force a sale in order to satisfy the unpaid debt secured by the property. At the Law Offices of John R. Reeves, PC, we have handled foreclosures over the years for lenders and we have defended debtors against foreclosures. Call us and we can help you answer questions, among others:
- How long do I have to pay the delinquent balance before foreclosure can take place?
- Do I have the right to pay the delinquent balance at any time before the property is actually sold?
- What, if anything, can I do to stop the foreclosure?
- What if my property is foreclosed and the lender receives a price at the sale greater than the debt?
- What are the notice requirements for a valid foreclosure sale?
Facing foreclosure in Mississippi
Most home foreclosures in Mississippi are done outside of court under the power of sale in a deed of trust. Notice of the sale is published in a local newspaper and posted at the courthouse before the sale. Because the process can move quickly, homeowners should act as soon as they receive a default or acceleration letter.
Options may include reinstatement, loan modification, a negotiated sale, or, in some cases, bankruptcy. John R. Reeves can review the loan documents and notices and explain the choices available.
See also bankruptcy.
Talk with a Jackson, Mississippi lawyer
Have questions about foreclosure? Call (601) 355-9600 (Monday–Friday, 9 a.m.–5 p.m.) or send us a message to arrange a confidential consultation.
Our only office: 355 S. State Street, Jackson, MS 39201, next to the Hinds County Chancery Courthouse. We serve clients throughout Jackson and central Mississippi.
This page provides general information, not legal advice. Every situation depends on its own facts, and reading this page does not create an attorney-client relationship.