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Montana is one of the seventeen states which have implemented online mortgage laws devised to provide protection to consumers and offer added convenience. However, as an outcome, the online mortgage costs have become unnecessarily high and competition has been hampered.

In Montana there is no mortgage tax. Execution of assignment or satisfaction needs to be signed by the mortgagees in the state. An assignment of a real estate mortgage can be recorded in similar manner as a real estate mortgage and its record and it shall operate as due and legal notice to the mortgagor and all persons who subsequently derive title to the mortgage from the assignor. This is including subsequent purchasers, encumbrance holders, mortgagees or other lien holders.

Mortgages in Montana have to be foreclosed judicially Deeds of trust in the state can, however, be foreclosed non-judicially too. The foreclosures may be conducted either in court or out-of-court depending on the existence of a power-of-sale clause in the mortgage. Usually, the foreclosure process takes 5-6 months to get completed. Foreclosure proceedings are discontinued when entire amount of default is paid.

The lenders may or may not obtain a deficiency judgment against the borrower. The borrower does not have any right of redemption.