Redemption and Deficiency Judgments in Mississippi
Whether you can buy back your home after a foreclosure sale in Mississippi, and whether the lender can sue for what's still owed.
Short answer: A lawsuit on an installment note, or a series of three or more notes, secured by a mortgage or deed of trust must be brought within one year from the date of the foreclosure or sale of the property securing the note(s). Miss. Code Ann. § 15-1-23
| Deficiency judgments | A lawsuit on an installment note, or a series of three or more notes, secured by a mortgage or deed of trust must be brought within one year from the date of the foreclosure or sale of the property securing the note(s). Mirror (FindLaw) of the Mississippi Code. Source: Miss. Code Ann. § 15-1-23 |
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More Mississippi foreclosure & homeowner law
- How Foreclosure Works in Mississippi
- HOA Liens and Foreclosure in Mississippi
- Getting Your Home Back After a Tax Sale in Mississippi
- All Mississippi foreclosure & homeowner law rules
FAQ
Can the lender come after you for the rest of the loan after foreclosure in Mississippi?
A lawsuit on an installment note, or a series of three or more notes, secured by a mortgage or deed of trust must be brought within one year from the date of the foreclosure or sale of the property securing the note(s).
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.