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Chapter 443 of the Revised Statutes of Missouri contains the relevant statutes that govern mortgages, deeds of trust, and foreclosures. Many questions regarding foreclosure proceedures can be resolved simply by reading the relevant statutes.
Intro to Missouri Foreclosure Process
The link below is a PowerPoint presentation created by Allison Tanner, an attorney at Swanson Midgley, LLC. It is another good introduction to state foreclosure law especially for someone who doesn't have a specific research issue in mind.
State Practice Guides
Missouri Practice Series
Vol. 38: Missouri Foreclosure Manual ($146.00)
Vol. 18 and 18A: Real Estate Law-Transactions ($302.00 for both)
Also available through WestLaw
The Missouri Practice Series volumes on real estate transactions contain several chapters relevant to foreclosure law, including: chapter 57 on mortgage litigation issues; chapter 58 regarding an overview of foreclosure; chapter 59 on the pre-sale process; chapter 60 on foreclosure sales; and chapter 61 on post-sale issues.
The Missouri Foreclosure Manual contains chapters on the deed-of-trust and power of sale, the role of the trustee in foreclosure, the foreclosure sale, and remedies for both the mortgagee and mortgagor.
MoPrac has the most in-depth coverage of the practice guides, and in my opinion, was superior to the MoBar CLE. All of the topics that I considered for practice research problems were mentioned in one of the volumes, whereas, the CLE deskbook did not discuss the tort action for wrongful foreclosure (the CLE volume on torts did not either).
Purchasing the three volumes above costs less than half of the Residential Mortgage Lending volume. MoPrac also includes much more case law. If accessed on WestLaw, the MoPrac articles contain links to the West Key Number Digests, as well as to relevant entries in C.J.S.
Residential Mortgage Lending: State Regulation Manual, South Central by
Publication Date: 2012
Available on WestLaw
Cost: $884.00 per volume
A state-specific treatment of foreclosure law can be found in the Mortgage Lending Manual. Chapter 2 provides topical entries relating to mortgages, the foreclosure process, and broker licensing. Each topic, for example “foreclosure,” contains a summary of relevant information, links to West’s Key Number Digest, and links to relevant statutory authority. Additionally, the Manual contains a section of “Cases and Decisions of Interest” for the state, with a brief summary of the decision and (if accessed through WestLaw) a link to the opinion.
There are a couple features in this resource that are particularly nice. The Key Number search makes it simple and quick on WestLaw to change the jurisdiction and compare the law in two jurisdictions on the same issue. However, this only works if the Manual is accessed through WestLaw. Independently of WestLaw features, the cases included are an easy place to start research on some of the most common foreclosure topics. A quick KeyCite check to determine if a case is still good law may be all that is required.
One of the major drawbacks of this source is that each volume contains several states and in practice, if you will only need one state, the content of the Manual is not essential enough to justify the price.
General Property Treatise
Thompson on Real Property, Thomas Edition by
Publication Date: 1994-01-01
Available on LexisNexis and in the library
Chapter 101 of Thompson on real property covers with mortgages, deeds of trust and related liens. Foreclosure is covered in section 101.04 Topics covered include: judicial and non-judicial foreclosure, parties necessary to a foreclosure action, rights of parties to a foreclosure, and requirements to a valid foreclosure sale. Each topical section contains a summary of the relevant law with citations to relevant cases and is followed by a sample search for computer-assisted research. For example, after reading about voidable sales, Thompson recommends a Lexis search of: private w/15 sale or foreclos! w/50 voidable.
Thompson can be useful for a very brief introduction to foreclosure law and to gain some familiarity with the relevant terminology. The suggested Lexis searches are good place to start research and can easily be translated into searches on Fastcase or WestLaw. Except for the suggested searches, however, this treatise will be minimally helpful because it discusses the laws in very general terms, does not address state specific law and cites cases from jurisdictions all over the country.
Thompson can be useful for a very brief introduction to foreclosure law and to gain some familiarity with the relevant terminology. The suggested Lexis searches are good place to start research and can easily be translated into searches on Fastcase or WestLaw. Except for the suggested searches, however, this treatise will be minimally helpful because it discusses the laws in very general terms, does not address state specific law and cites cases from jurisdictions all over the country. If accessible through Lexis or through a library, it is worth browsing, however, the limited usefulness for a single-state practitioner will not justify the cost.
Federal law permits non-judicial foreclosure of mortgages held by the Secretary of Housing and Urban Development pursuant to Title I or II of the National Housing Act or secure loans obligated by HUD under Section 312 of the National Housing Act of 1964.
Although bankruptcy law is outside the scope of this research guide, the researcher should be aware that filing for bankruptcy will have implications in the foreclosure process.