Mississippi Foreclosure Laws

Written by Manuel Martinez, RealtyTrac contributorPublished Jun 6, 2013

Last updated Aug 10, 2023

Key Takeaways

Mississippi foreclosures are mostly out of court and typically last 3-4 months.
Borrowers generally get a default notice at least 30 days before the sale.
Borrowers can halt foreclosure before the sale by paying the amount due plus expenses.
The sale notice runs once a week for three successive weeks.
The sale is final; there is no right of redemption afterward.

Foreclosure Process Overview

Mississippi foreclosures can be handled either in court or out of court. The typical foreclosure process lasts 3-4 months.

Judicial	Non Judicial	Comment	Process Period	Publish Sale	Redemption Period	Sale/NTS
•	•	Non-judicial mostly	90 days	30 days	None	Trustee

Pre-foreclosure Period

In Mississippi, the out-of-court foreclosure process is most common. A deed of trust usually includes a provision enabling the lender to sell a property if a borrower defaults. Generally, a borrower will receive a default notice at least 30 days before the foreclosure sale. After this, the trustee initiates the foreclosure sale process.

Prior to the foreclosure sale, the borrower may halt the foreclosure process and cure the debt by paying the amount due plus foreclosure expenses.

Notice of Sale / Auction

The notice of sale must be posted at the county courthouse and published once per week for three successive weeks in a local newspaper. The notice must provide a description of the property, deed of trust information, the parties involved, and the time, place, and terms of the sale.

The trustee conducts the sale, usually between 11:00 a.m. and 4:00 p.m. at the courthouse, and the lender is permitted to bid. The trustee can postpone the sale to the next day by announcing the postponement at the originally scheduled sale. The winning bidder, if other than the lender, must supply the sale amount usually in the form of cash or certified funds at the sale; if not, the sale must be rescheduled and republished. After the sale, the trustee prepares a deed conveying ownership to the winning bidder. In the case of a surplus, the additional amount is dispersed to any other affected secondary lenders.

The foreclosure sale is final, and after the sale the borrower does not have the right to redeem the property.

Frequently Asked Questions

How long does foreclosure take in Mississippi?

The typical Mississippi foreclosure process lasts 3-4 months, usually out of court.

Is there a right of redemption in Mississippi?

No. The foreclosure sale is final, and the borrower cannot redeem the property afterward.

Sources & References

Outside sources cited in this article.

Mississippi Code § 89-1-55: Advertisement of sales under mortgages and deeds of trust, FindLaw
How does foreclosure work?, Consumer Financial Protection Bureau

About the author: Manuel Martinez

RealtyTrac contributor

Manuel Martinez is a contributor to RealtyTrac who writes about local housing markets, home buying and real estate investing. He has written for RealtyTrac since 2013, covering city and state market reports, home buying guides and tips, investment financing and strategies for buying and flipping homes.