MO HB800

Requires foreclosing mortgagees to serve owner-occupants with a detailed notice of default and intention to foreclose at least 60 days before foreclosure, including mortgagee contact information, default description, cure requirements, and housing counselor information.

Establishes a foreclosure dispute resolution program within the Division of Finance allowing owner-occupants to elect participation within 30 days of notice to negotiate loan modifications or settlement agreements with mortgagees, with a filing fee of $550.

Creates an automatic stay of nonjudicial foreclosure upon opening of a dispute resolution case; requires mortgagee representatives to have authority to negotiate modifications and parties to comply with information requests at least 15 days before scheduled sessions.

Permits owner-occupants to convert nonjudicial foreclosures to judicial proceedings by filing a petition within 30 days of notice, with all mortgagors and obligors required to submit to court jurisdiction within 45 days or face dismissal.

Prohibits foreclosing mortgagees from conducting sales on unauthorized dates or places, delaying conveyance delivery beyond 45 days, or foreclosing during short sale escrows, loan modification negotiations, or federal loan modification program evaluations; violations constitute unlawful merchandising practices.