Statute of Limitations Question - MORTGAGE

[dallasareaguy]

Our home in Missouri foreclosed in 2012. Original mortgage was satisfied by sale of home.

The last payment made to the second mortgage company was 08/2011. (4 years ago just passed today)

Statute of Limitations is 4 years from date of last payment in Texas.

Statute of Limitations is 5 years in Missouri.

Should I presume that the Missouri statute will hold up since that is where the loan originated?

Therefore presuming they have 1 more year from today to sue me for the debt but will have to sue me in Missouri?

EDIT: I promise not to hold anyone replying as legal advice.. I'm just hoping someone knows the answer...

[Anonymous]

Depends on whether Missouri is a Recourse or a non-recourse state. If they are a recourse state, then if Missouri has a borrowing statute, then the SOL of Texas would apply if they brought suit in Missouri. OTOH, if Missouri is a non-recourse state, then the creditor cannot sue, as the property is considered to have settled the debt, whether upside down or not.