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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] unclear about MO foreclosure process Posted by Cindy MO on March 20, 2002 at 1:58 AM I have enjoyed reading your board topics and have a few questions. The particular trustee conducting the sale I am most interested in states on their automated phone system that all titles they handle at sales are clear of all prior liens. Should I take any faith in that? Also if I should get the highest bid and am not the lender, is their any protection afforded me in MO from the original owner somehow delaying or voiding the sale? Are the trustees required to disclose? Does the lender always start the bidding? If they do, what is usually the next bid? I have read the it is usually $1 over the original bid. Also I was told by a banker that in Missouri, the lender does not have to settle for just what is left due on the loan. He said they could begin the bidding at that level but did not have to accept the highest bid if it did not cover all of the assorted associated fees incurred by the lender pertaining to the debt. Is this true? I appreciate any help you send my way. Follow Ups: Make-up of opening bids, overbids, etc. Ward-CA- 6:06 PM, 03/21/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I have enjoyed reading your board topics and have a few questions. : The particular trustee conducting the sale I am most interested in states on their automated phone system that all titles they handle at sales are clear of all prior liens. Should I take any faith in that? : Also if I should get the highest bid and am not the lender, is their any protection afforded me in MO from the original owner somehow delaying or voiding the sale? : Are the trustees required to disclose? : Does the lender always start the bidding? If they do, what is usually the next bid? I have read the it is usually $1 over the original bid. : Also I was told by a banker that in Missouri, the lender does not have to settle for just what is left due on the loan. He said they could begin the bidding at that level but did not have to accept the highest bid if it did not cover all of the assorted associated fees incurred by the lender pertaining to the debt. Is this true? : I appreciate any help you send my way. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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