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Roger
Roger, Lawyer
Category: Real Estate Law
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Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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My home was going into foreclosure but i havent heard

Customer Question

my home was going into foreclosure but i havent heard anything further since the second sale date and my credit report has foreclosure redeemed with a 0 balance showing what does this mean
Submitted: 8 months ago.
Category: Real Estate Law
Expert:  Roger replied 8 months ago.

Hi - my name is ***** ***** I'm a lawyer in Mississippi. I'll be glad to assist.

In Mississippi, there is really no notice requirement to the borrower except for the notice of foreclosure sale that is published in the newspaper.

Expert:  Roger replied 8 months ago.

So, you likely would not receive anything from the creditor. However, you can go to your local chancery court clerk's office and review the land records to see if the property was sold at the foreclosure sale. If so, you should be able to find a deed from your lender to the buyer at the sale (which could also be the lender).

Expert:  Roger replied 8 months ago.

If the sale has occurred, then the foreclosure is complete.....and the credit report will show that the sale has completed. If the sale didn't generate enough money to pay off the mortgage, the lender can seek a deficiency judgment......but deficiencies are uncommon in Mississippi.

Expert:  Roger replied 8 months ago.

If you need anything further, please let me know. Also, please take time to positively rate our conversation so I may receive credit for assisting. Thanks again!

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