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  1. #1
    Join Date
    Aug 2008
    Posts
    1

    Default Does a Foreclosure Have to Start Over After Coming Out of Bankruptcy in Missouri

    My question involves a foreclosure and then bankruptcy in the state of: Missouri. I'm trying to purchase a foreclosure property in Missouri. The property was in foreclosure and had been posted in the local legal paper for 18 of the 20 days as required by Missouri law. Two days prior to sale on the courthouse steps the owner filed for Chapter 7 protection (and surrendered the property). The bank about a week later filed a "Relief from Stay" motion since the house is upside down in the current market (the house has negative value to the Bankruptcy trust). No one so far has filed any objection to the Relief from Stay. Let's assume the Court grants the Relief from Stay. My question is does the previous foreclosure resume from where it left off or does the process have to start all over again (can it be sold in two days on the courthouse steps, or does the bank have to start the 20 day posting all over again?). Just trying to plan out my timeline on when I need to be available on the courthouse steps.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Does a Foreclosure Have to Start Over After Coming Out of Bankruptcy in Missouri

    The foreclosure doesn't "start over", but proper notice would have to be given for the rescheduled sale.

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