MO HB2764

Mortgage companies must fully disclose loan terms (notes, deeds of trust) to all persons with a recorded interest in real property within 30 days of request or at least 30 days before initiating foreclosure proceedings

Persons with recorded interest in property must be notified of any default in monthly payments and given 30 days to cure the default, regardless of who is liable on the loan

Interested parties are entitled to receive a full loan accounting from issuance date, escrow statement, total balance due, interest rates, late charges, principal amounts, and amortization schedule

Reverse mortgage lenders must allow heirs at least 15 years to repay any balance due after the mortgagee's death, at the average mortgage interest rate in effect at the time of death

Heirs and personal representatives must receive full loan disclosures and accounting within 30 days of the lender being notified of the mortgagee's death or upon request; heirs must be named in a will, letters of administration, or file an affidavit of death with the recorder of deeds