Foreclosures FAQ Category
Friday, January 7th, 2011
To initiate the foreclosure process, we would need for the lender to provide the following documents:
- Promissory Note – Original or Copy
- Deed of Trust – Original or Copy
- Name and address of the note debtor
- Account status information with the date of default and current payoff information
- Written authorization to proceed with foreclosure
Friday, January 7th, 2011
Each action is guided by Missouri statutes and the terms contained in the deed of trust. Usually, Pratt, Fossard & Jensen, L.L.C. accomplishes all steps, including the sale, within sixty (60) days from referral by the lender. If all the necessary documents are received at the time of first office visit, this timeline can usually be reduced.
Friday, January 7th, 2011
The process entails our firm obtaining an examination of the title to the property, notifying interested parties by mail, advertising a sale of the real property, calling the foreclosure sale, collecting and distributing the proceeds of the sale, and filing the required trustee’s deed after the sale.