C Special Requirements for Second Mortgage Loans
| Library | Foreclosures Guidebook (2017 Ed.) |
C. Special Requirements for Second Mortgage Loans
In addition to all of the terms contained in the promissory note and deed of trust, a special statutory scheme applies to a certain category of deeds of trust; therefore, some additional requirements must be met before the foreclosure can go forward. Sections 408.551, 408.554, and 408.555, RSMo 2016. Default by the mortgagor on a second mortgage loan may be cured by tendering the current obligation any time before the completion of the nonjudicial...
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