Missouri Real Estaste - Posted by Lanie

Posted by chris on March 22, 2000 at 11:43:16:

thanks Chris!
very good info. We are serching findlaw now.

Missouri Real Estaste - Posted by Lanie

Posted by Lanie on March 20, 2000 at 19:21:18:

I have a balloon note due in couple weeks. I have got my house on the market to pay for the balloon note, but I have not been able to sell the house yet. Anyway, does anyone know if I have any extra time to come up with the money if I don’t have it within two weeks, or would it be forclosed on immeditaly?

Thanks,
Lanie

Re: Missouri Real Estaste - Posted by jason

Posted by jason on March 21, 2000 at 11:09:52:

What part of Missouri are you in?

Re: Missouri Real Estaste - Posted by chris

Posted by chris on March 21, 2000 at 04:41:01:

Lanie-

Have you spoken with the lender about extending the balloon for a certain amount of time for a fee? Would a refinance be a possibility for you (unless you really want to sell the house)?

-Chris

Re: Missouri Real Estaste - Posted by lanie

Posted by lanie on March 21, 2000 at 13:15:30:

The southeastern part of the state. It is 160 acres.

Re: Missouri Real Estaste - Posted by lanie

Posted by lanie on March 21, 2000 at 13:16:44:

There isn’t any house, only land.

Re: Missouri Real Estaste - Posted by chris

Posted by chris on March 21, 2000 at 18:31:35:

Lanie-

This one is way beyond my level.

Please seek the advice from a foreclosure attorney for your area. You can also on your own look up foreclosure laws at findlaw.com and alllaw.com to name a few. You may want to also contact the Attorney General’s Office for Missouri to help guide you with your search for relevant info.

Attorney General’s Office
Supreme Court Building
P.O. Box 899
Jefferson City, MO 65102
Ph: (314) 751-3321
Fax:(314) 751-0774

In the event that the property is foreclosed on this is what I found for redemption rights in Missouri. Please check any of this information with a qualified professional.

Redemption: No redemption available if a third party bought the propery. If the lender ended up with the property, there is a one year right of redemption. There are some strict requirements to be met by the owner who wishes to redeem, including putting up a bond for all the payments for one year.

-Chris