A Missouri homeowner, Sandra, defaults on her deed of trust loan. The trustee initiates a non-judicial foreclosure. Under Missouri law, what is the minimum newspaper publication notice period required before the trustee's sale can be conducted?
Correct Answer
D) 20 consecutive days in a newspaper of general circulation
Under RSMo § 443.320, before conducting a trustee's sale in Missouri, the trustee must publish notice of the sale for at least 20 consecutive days in a newspaper of general circulation in the county where the property is located. This 20-day publication requirement is a key feature of Missouri's non-judicial foreclosure process and is a frequently tested state-specific detail.
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Related Topics & Key Terms
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Related Concepts
Closing costs are the fees and expenses paid by the buyer and seller at the closing of a real estate transaction, beyond the purchase price. They typically range from 2-5% of the purchase price.
A conventional loan is a mortgage that is not insured or guaranteed by a government agency such as the FHA, VA, or USDA. It is originated and funded by private lenders and may be conforming or non-conforming.
The debt-to-income ratio (DTI) compares a borrower's monthly debt obligations to their gross monthly income. It is used by lenders to determine how much mortgage a borrower can afford.
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