If you are facing foreclosure in Missouri, it’s important to understand some of the basics, including:
- the most common type of foreclosure procedure (judicial v. nonjudicial) used in Missouri
- how much time you have to respond
- your rights and protections in the process, and
- what happens afterwards (for example, whether you’ll be liable for a deficiency judgment).
Below we have outlined some of the most important features of Missouri foreclosure law. Keep in mind that this is just a summary; we’ve included statute citations so you can get more details from the laws themselves. And be sure to check out Nolo’s extensive Foreclosure section, where you can find information about all aspects of foreclosure, definitions of foreclosure terms (like redemption and reinstatement), and options to avoid foreclosure.
|Common type of foreclosure process||Nonjudicial: under power of sale in deed of trust|
|Time to respond||Foreclosing party must send, by registered and certified mail, 20-day notice to homeowner.|
|Reinstatement of loan before sale||No|
|Redemption after sale||Available up to a year after sale, if homeowner gives foreclosing party a notice of intent to redeem 10 days before sale and the lender buys the property at foreclosure sale|
|Special protections for foreclosures involving high-cost mortgages||None|
|Special state protections for service members||Mo. Ann. Stat. § 41.944|
|Deficiency judgments||May be obtained in a separate lawsuit, whether or not sales price is the property’s fair market value|
|Cash exempted in bankruptcy||$600 for one person, $1,250 for a married couple|
|Notice to leave after house is sold||Former owner must get one month’s written notice to vacate premises. Mo. Rev. Stat. § 441.060|
|Foreclosure statutes||Mo. Rev. Stat. §§ 443.290 to 443.453|