Foreclosures in Mississippi offer great potential to a smart investor who can capitalize on a bargain price and re-sell the property for a profit. Searches through Mississippi foreclosure listings can provide details on homes foreclosed in Mississippi available to purchase.

Mississippi foreclosures become available at less than market value. Your profit comes to realization when the market picks up again.

Foreclosure rates were as high as 80% in Mississippi at one time. With the large number of foreclosed properties available, you should be able to find something that suits your investment goals. In general, there are three different stages to foreclosure homes in Mississippi:

1. Pre-foreclosure: A Mississippi foreclosure property owner will receive a default notice at least 30 days before the sale. The homeowner may halt the foreclosure process by paying the debt.

2. Auction: Notice of sale of the foreclosed property in Mississippi must be published. The sale takes place at the courthouse and the lender is also permitted to bid. The winning bidder must pay by cash or certified funds the day of the sale.

3. Bank-owned: The lender has taken control of the property and the sale of Mississippi foreclosure homes is usually handled through an agent.

Action Steps
The best contacts and resources to help you get it done

Look for Mississippi foreclosure listings that meets your criteria

Ease your work by setting specific criteria for your search. First narrow the area by ZIP code or county. Most foreclosure listing services provide basic details and then for a small fee you're able to access more details about a particular property.

I recommend: Use a search engine such as the one at ForeclosureFreeSearch Inc. which provides pre-foreclosures listings, along with bankruptcy homes and HUD foreclosures. Whether you're looking for a two-bedroom home in Jackson or a three-bedroom home in Ocean Springs, get all the details by searching HUDForeclosed.com.

Learn more about how to purchase homes foreclosed in Mississippi

You have access to foreclosure resources from articles available online, e-books and paperback books, CD-ROMs to webinars and more. Find the right resource to educate yourself in the areas that interest you.

I recommend: Browse the educational articles available from Bargain Network Inc. There are a variety of articles available for investors at all levels. RealtyTrac offers several e-books for purchase and download.

Apply online tools to help with decisions about foreclosures in Mississippi

Utilize all the resources you have available to help you with your investment goals.

I recommend: See the tips provided by HBN Interactive Co. on how to choose a neighborhood to invest in. That could help you sift through and narrow all of those foreclosure listings in Mississippi. To help you with crunching the numbers, use the financial calculators available from Foreclosure Data.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Mississippi foreclosures can be handled judicially or non-judicially. The foreclosure process lasts anywhere from three to four months.