Most Montana foreclosures occur outside of the court system in a process known as a non judicial foreclosure. Lenders are able to conduct a non judicial foreclosure if the mortgage agreement contains a power of sale clause that allows the lender to foreclose on the property if the borrower is in default. The lender must comply with the notice and sale requirements contained in the mortgage or, if none are included in the mortgage agreement, then those required by state law.
If a Montana mortgage does not contain a power of sale clause then a lender who wishes to foreclose on a property must sue the borrower in state court and obtain court permission to foreclose.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.