In prior Alerts we described appellate court decisions addressing challenges to the Missouri common law rule of basing the amount of loan deficiency
Hutsler stands for the proposition that a significant lapse of time between (1) advertising and sale of merchandise and (2) an alleged unfair
Many modern statutes recognize two basic types of receiverships. The first, called a “limited” or “custodial” receivership is one where the receiver
As a result of recent legislation, local Missouri governments are precluded from establishing procedures for servicing or enforcing mortgage loans
Three notable pieces of Missouri legislation will become effective August 28, 2013, nullifying foreclosure mediation initiatives in St. Louis City
The St. Louis mortgage industry has been in an uproar since the St. Louis County Council passed the Mortgage Foreclosure Intervention Code late last
On Friday, January 18, the Missouri Court of Appeals for the Eastern District issued an injunction preventing enforcement of a St. Louis County
Yesterday (September 19, 2012), the Business Bank of St. Louis filed a putative class action lawsuit on behalf of 272 commercial banks challenging a new foreclosure mediation requirement ordinance in St. Louis County.
On April 17, 2012, the Missouri Supreme Court affirmed that Missouri law will continue to calculate a deficiency judgment based on the difference between the debt owed and the price paid at foreclosure, absent modification by statute.
In an opinion issued on April 17, 2012, the Supreme Court of Missouri announced the proper measure of a deficiency judgment after a foreclosure sale is the loan balance less the amount paid for the property at a foreclosure sale.