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ARTICLE · 03 APRIL 2025

Mississippi Foreclosure Basics

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Lenders facing loan defaults on residential or commercial properties in Mississippi are often forced to pursue foreclosure measures if the default is not cured.

United StatesFinance and Banking
Chad Hammons
Chad Hammons

Lenders facing loan defaults on residential or commercial properties in Mississippi are often forced to pursue foreclosure measures if the default is not cured. Compared with other states, Mississippi has a relatively easy and streamlined foreclosure process for situations involving routine defaults with few complications. In more complex cases, Mississippi also affords lenders the right to pursue formal legal action through the filing of a complaint for judicial foreclosure. This article will provide a basic overview of each process, including some of the pros and cons of each.

Nonjudicial Foreclosure

The vast majority of foreclosures in Mississippi are conducted through the process of nonjudicial foreclosure, also known as "straight foreclosure." Nonjudicial foreclosure is a relatively quick and easy process whereby a lender declares a default, accelerates the loan balance, and gives the borrower an opportunity to cure, typically 30 days. At the end of the

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