MO HB1230

Mortgage companies and loan servicers must fully disclose note and deed of trust terms to any person with a recorded interest in real property within 30 days of request or at least 30 days before initiating foreclosure proceedings

Persons with recorded property interests must be notified of any payment defaults and given 30 days to cure the default, regardless of who is liable on the loan

Recorded interest holders are entitled to receive a full loan accounting from origination date, including escrow statements, total balance due, interest rates, late charges, principal and interest paid, and amortization schedules

Reverse mortgage lenders must provide heirs a minimum 15-year repayment period for amounts due after the borrower's death, at the average mortgage interest rate in effect at the date of death

Heirs must be named in a will, letters of administration, or file an affidavit of death with the recorder of deeds to qualify for loan information disclosure