do missouri state tax liens survive foreclosure

Other states primarily use deeds of trust and can foreclose out of court. Some states use mortgages and must go through the court’s foreclosure process. If a borrower stops paying, the mortgage lender will call the borrower, send a paper notification, and file the necessary paperwork to foreclose on the home. Given that a lender can evict a borrower, the meaning hasn’t changed all that much in 800 years! Mortgage? Or Deed of Trust? In today’s legal terminology, it means taking over a home that’s collateral for a mortgage. It’s from the early French word forclos, meaning to exclude, shut out, or drive away. That said, foreclosures can occur when a home loan becomes just too much of a financial burden, and the owner simply cannot or will not make the payments any more.įoreclosure is a term that dates back to the 1200s. It’s hard to make any blanket statements about dealing with the process, as it varies so much from state to state - and even from county to county. When the economy is brutal, foreclosures become more common.

Do missouri state tax liens survive foreclosure