MO HB2073

Repeals 22 sections of Missouri law related to nonjudicial foreclosure proceedings (power of sale foreclosures), effective August 28, 2012.

Requires all foreclosure proceedings to be conducted judicially through the courts rather than through nonjudicial trustee or mortgagee sales.

Eliminates provisions governing notice requirements, timing, advertising, and procedures for nonjudicial foreclosure sales under deeds of trust and mortgages.

Removes rules allowing trustees to exercise power of sale discretion regarding sale timing and continuances without court involvement.

Preserves judicial foreclosure procedures in sections 443.190 to 443.280 as the sole method for enforcing mortgages and deeds of trust.