Our Missouri foreclosure listings feature the latest available properties, with a wide selection of Missouri home foreclosures for sale and repo homes to suit any prospective homeowner. The state's current housing market indicates modest statistics, with a price range on homes in Jefferson City currently sitting at $131,500. This figure establishes a consistent trend across many of the state's major cities, along with low priced Missouri home foreclosures offering cheap deals as well.
Search through the best listings of foreclosures in Missouri. We provide foreclosed homes and auctions in the major Missouri cities. Choose a city and fing an excellent deal for you!
Many States are Using Funds from Pan American Foreclosure - Mar 06, 2012
The Loss to Small Business Units Caused by Foreclosures has not been Properly Focused - Feb 05, 2012
Missouri is Looking Up for Foreclosure Home Investors - Sep 15, 2011
Missouri Foreclosures are Moving Up in Price but Still Can Be an Attractive Purchase - Jun 14, 2011
Missouri Foreclosures: One of the Few Improving Aspects of a Floundering Economy - Feb 21, 2011
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Missouri is situated in North America's central region, bordering on surrounding states such as Arkansas, Illinois, Kentucky and Tennessee. The state covers a landmass of nearly 69,000 square miles, making it one of America's largest states. The state is structured into contrasting areas of flat plains, such as the Dissected Till Plains; a prime area for the production of corn, along with other areas such as the Ozark Plateau, which comprises of steep hilly valleys and wide scoping mountain ranges. The area also features an array of lakes and beautiful springs, including impressive scenery to match.
Missouri's major cities include the state's capital, Jefferson City, along with Springfield, Lee's Summit, Kansas City, St. Louis and Columbia. Major counties include Boone County, Jefferson County, Jackson County, Saint Louis County and Newton County. Jefferson City's demographic is host to a broad range of people, including those earning college degrees and raising families in middle-class suburbs. The median household income is just under $40,000. Family households with children contribute to just over a quarter of all households, while the rate of marriages sits at just over half the homes in the city. Missouri foreclosures also contribute a modest amount of overall houses in Jefferson city and other major cities.
Missouri's economy thrives on the production of cattle and livestock, which contributes to more than 50 percent of the agricultural industry's profits. Other products in the industry include beef, cattle, dairy products and crops such as soybeans, corn, cotton, as well as a persistent production of fruits and vegetables. The state's mining industry is a prominent figure in the production of lead. Other important resources include the mining of limestone and coal, to name a few. The manufacturing industry obtains a large profit from the production of transport parts and associated equipment, which ranges widely from airplane parts, trucks, cars and buses. This coincides with the state's reputation as a strong provider in the production of vehicles and trucks. Other important sectors in the industry include several dairy plants and breweries which greatly contribute to the state's food processing industry.
Missouri allows both judicial and non-judicial foreclosures. A lender may proceed with a non-judicial foreclosure if a mortgage contains a Power of Sale clause stating the lender's right to foreclose on a borrower (homeowner) in default. Under Missouri foreclosure law, the lender must first notify the homeowner of their outstanding debt. If the lender does not then receive payment within a specific amount of time, a foreclosure sale of the property may be scheduled.
In all other scenarios, the lender must consult the court system for a ruling before pursuing foreclosure. Because of the commonality of Power of Clause mortgages, judicial foreclosures are rare in Missouri.
In counties that contain a city with a population of over 50,000 a Notice of Sale must be published in a local newspaper for a period of 30 days, the last publication appearing on the day of the sale. In all other counties, the Notice of Sale must be published weekly for four weeks, the last notice appearing no less than one week before the sale if to take place. The trustee in charge of the sale (usually appointed by the lender) must notify the homeowner of the sale at least 20 days before it is to take place.
Although the foreclosure sale usually takes place at the county courthouse between the hours of 9 a.m. and 5 p.m., individual mortgages or deeds of trust might indicate specific arrangements, which must be adhered to. If the sale is postponed for more than seven days, the trustee must publish the Notice of Sale again. The sale is conducted by the trustee in the style of a public auction; the property is awarded to the highest bidder. Once a winning bidder has provided payment, that person is transferred full ownership of the property.
If the lender is determined to be the winning bidder at the auction, then the original homeowner is afforded no redemption rights to the property. In any other case the homeowner is entitled to redemption rights, although they are so cumbersome they are rarely invoked. Under Missouri foreclosure law, the homeowner must give notice of their intent to redeem either at the sale or ten days prior. The homeowner then has 20 days in which to provide full payment of the following: the mortgage interest, any secondary loan interest, all taxes that will accrue for one year after the sale, foreclosure expenses, legal fees, and an all-inclusive charge of 6 percent interest. If these payments are met, the homeowner is then afforded one full year in which to pay off the default amount originally owed plus any interest gathered on that amount.
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