Foreclosure & Alternatives Law
How Can a Lender Foreclose on a Property in Mississippi?
Some Mississippi mortgages contain a power of sale clause. Lenders who enter mortgage agreements with a power of sale clause can foreclose on a property by following the notice and sale terms included in the mortgage agreement. If the terms are not specified in the mortgage agreement then the lender must follow the notice and sale requirements set forth in state law.
If the mortgage agreement does not have a power of sale clause then the lender must sue the borrower in state court in order to foreclose the property.