Missouri law states that after a borrower has been in default for ten days for failing to make a required payment and has not surrendered possession of the collateral, the lender may give the borrower and all co-signers a notice. However, the lender cannot foreclose on the property or accelerate the loan unless the notice has been given pursuant to Missouri Revised Statute 408.554.
If you are facing a foreclosure and need assistance, contact our law office at 816-524-4949 or visit our website at Hoorfarlaw.com.