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MO HB1018

Bill

Official Source

Status

Introduced

4/1/2011

Primary Sponsor

Jason Kander

Click for details

Origin

House of Representatives

2011 Regular Session

AI Summary

  • Requires mortgagees to serve mortgagors with a preforeclosure notice at least 60 days before initiating foreclosure proceedings
  • Preforeclosure notice must include the mortgagor's right to cure the default, itemization of past due amounts, and all charges needed to satisfy the loan
  • Notice must provide address, telephone number, and contact information for the mortgagee or agent authorized to modify the mortgage loan to avoid foreclosure
  • Notice must include names, addresses, telephone numbers, and contact information for all HUD-approved counseling agencies operating in Missouri
  • A 60-day notice to proceed with foreclosure must also inform the mortgagor of any residential mortgage foreclosure mediation negotiation process that may apply
  • This section expires December 31, 2015

Legislative Description

Changes the laws regarding mortgage foreclosures by requiring a preforeclosure notice which contains information regarding foreclosure alternatives

Last Action

Referred: Financial Institutions (H)

4/7/2011

Committee Referrals

Financial Institutions4/7/2011

Full Bill Text

No bill text available