The short version
- Missouri uses non-judicial foreclosure. Most foreclosures never go to court, and a sale can be scheduled with as little as 20 days' notice.
- Your best options are before the sale date: catch up, modify, or sell and keep your equity.
- If you have equity, a quick sale to us can pay off the loan and put the rest in your pocket.
Missouri foreclosures move fast
Most Missouri home loans use a deed of trust with a "power of sale." That means the lender can foreclose without filing a lawsuit. Here's the typical path:
From the first missed payment to the auction can be just a few months. Don't wait for the notice of sale to start making calls.
Your options to stop foreclosure
| Option | How it works | Best for |
|---|---|---|
| Reinstatement | Pay everything you're behind, plus fees, in one lump sum | A short-term setback that's now fixed |
| Repayment plan or forbearance | The servicer spreads out or pauses what you owe | Temporary hardship with income coming back |
| Loan modification | The loan terms are changed to lower the payment | Steady income that can't cover the old payment |
| Sell the house | The loan is paid off at closing and you keep any equity | You have equity, or the house costs more than you can afford |
| Short sale or deed in lieu | The lender agrees to accept less than what's owed | You owe more than the house is worth |
| Bankruptcy | An automatic stay pauses the sale | Talk to a bankruptcy attorney first |
A free HUD-approved housing counselor can help you talk to your servicer. Call HUD at 800-569-4287 to find one near you.
Why selling before the sale protects you
At a foreclosure auction, the house sells for whatever the highest bidder pays, often far less than it's worth. You lose control of the price, and the foreclosure stays on your credit report for years.
If you sell before the sale date:
- The loan is paid off at closing, along with the late fees.
- Any equity left over is yours, paid to you at closing.
- You avoid a foreclosure on your credit.
- You choose your move-out date instead of getting a notice to vacate.
What about redeeming after the sale?
Missouri has a one-year right to redeem, but it only applies in narrow cases. The lender has to be the buyer at the sale, and you have to give written notice of your intent to redeem before the sale and post a bond within 20 days after. Then you have to pay the full debt and costs within the year. Very few homeowners can use it. Plan to act before the sale.
Watch out for foreclosure rescue scams
Be careful with anyone who asks for money up front to "save" your house, tells you to stop talking to your lender, or wants you to sign the deed over before you understand the deal. A real buyer pays for the house at a title company closing, and the loan is paid off right there.
How we help homeowners facing foreclosure
Tell us your sale date. We'll look at the house, give you a cash offer within 24 hours, and if it makes sense, close before the auction at a local title company. We pay all the closing costs. If selling isn't your best move, we'll tell you that and point you to the right help.
Common questions
How close to the foreclosure sale can I still sell?
As long as the sale hasn't happened, you can usually still sell. The closer you are, the tighter it gets. Title has to order a payoff from your lender and get the sale postponed or the loan paid off in time. Call as early as you can.
Will the lender postpone the sale if I have a buyer?
Lenders often postpone when there's a signed contract and a closing date, but they don't have to. A cash sale with a fast closing gives you the best chance.
What if I owe more than the house is worth?
Then a regular sale won't pay the loan off. A short sale, a deed in lieu, or a loan modification may be better options. We'll be honest with you about that.
Can I stay in the house after selling?
Let's talk about it. We can often set the closing date, or give you some time after closing, so you can plan your move.
This guide is general information for Missouri homeowners, not legal, tax or financial advice. Laws and local procedures change. Talk to a Missouri attorney, CPA or HUD-approved housing counselor about your situation. HJ House Buyers is a real estate investment company, not a law firm or real estate brokerage.