Missouri Law Review Volume 62 Issue 2 Spring 1997 Article 7 Spring 1997 Constitutionality of Power of Sale Foreclosures by Federal Government Entities, The Daniel E. Blegen Follow this and additional works at: https://scholarship.law.missouri.edu/mlr Part of the Law Commons Recommended Citation Daniel E. Blegen, Constitutionality of Power of Sale Foreclosures by Federal Government Entities, The, 62 MO. L. REV. (1997) Available at: https://scholarship.law.missouri.edu/mlr/vol62/iss2/7 This Note is brought to you for free and open access by the Law Journals at University of Missouri School of Law Scholarship Repository. It has been accepted for inclusion in Missouri Law Review by an authorized editor of University of Missouri School of Law Scholarship Repository. For more information, please contact
[email protected]. Blegen: Blegen: Constitutionality of Power of Sale Foreclosures by Federal Government Entities The Constitutionality of Power of Sale Foreclosures by Federal Government Entities AgriBank FCB v. Cross Timbers Ranch1 I. INTRODUCTION When loaning money, lenders often require that obligations be secured by a mortgage on real estate owned by the borrowers.2 In Missouri, the prevailing form of mortgage is the deed of trus with a power of sale4 provision.5 Upon default 6 the trustee is allowed to sell the property without a judicial hearing7 and 1. 919 S.W.2d 263 (Mo. Ct. App. 1996). 2. See generally GRANT S. NELSON & DALE A. WHrIMAN, REAL ESTATE FINANCE LAW § 1.1 (3d ed. 1994). There are many variations on a mortgage, but all involve the debtor, or mortgagor, giving the creditor, or mortgagee, an interest in the land which can be exercised if the mortgagor fails to repay the debt.