Montana Foreclosure Laws

The time that it takes a foreclosure to run the course through the system in the state of Montana is usually somewhere close to 150 days which is about five months. The system here allows for both a mortgage and deed of trust to be used as security instruments and they can be filed both as a judicial or non-judicial formats. The borrow has absolutely no right of redemption in this state and the lender has only a limited ability to file for a deficiency judgement and that is only allowed on a judicial foreclosure and not on the non-judicial process.

As is typical in a judicial format, the court has the power to decree the amount that is owed and also to allow for a short period of time in which the borrower is allowed to make up and cure the default. If the borrower should fail to make good on the default in the courts allotted time frame then they will issue a notice of sale on the property.

With regards to a non-judicial foreclosure where there is no power of sale clause inserted into the document, then a notice of sale must be published weekly for three consecutive weeks in a local newspaper that is generally circulated and a copy of that notice must be mailed by registered or certified mail at least 120 days before the sale to the borrower at the last known address The notice must also be conspicuously posted on the property at least twenty days before the sale.

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