Edward Chang

Edward Chang

Ballard Spahr LLP

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Latest Publications


The Sixth Circuit, Relying upon Michigan’s Nonrecourse Mortgage Loan Act, Rejects the Enforceability of an Insolvency Covenant

Notwithstanding Michigan’s 2012 Nonrecourse Mortgage Loan Act (NMLA), which provides that solvency covenants in nonrecourse loans unenforceable, in Borman, LLC v. 18718 Borman, LLC, a third-party purchaser of a foreclosed...more

2/23/2015 - Deficiency Judgments Foreclosure Lenders Mortgage Lenders Mortgages Non-Recourse Loans Promissory Notes

Merger Doctrine Does Not Prevent Deed of Trust Beneficiary From Extinguishing Junior Lien through Foreclosure, California Court...

The California Court of Appeal recently held that a foreclosure by the beneficiary under a first deed of trust extinguished a junior lien, even though the beneficiary acquired the property by way of a deed in lieu of...more

8/1/2014 - Appeals Beneficiaries Deed of Trust Deed-in-Lieu of Foreclosure Foreclosure Junior Lenders Liens Mechanics Lien Real Estate Transfers Senior Lenders

Borrowers' Counsel Can Be Sanctioned over Frivolous Complaints in Foreclosure and Eviction Proceedings, Michigan Court Holds

A Michigan appellate court recently held that a borrower's counsel could be sanctioned for filing a complaint for the purpose of delaying foreclosure or eviction. In Edgett v. Flagstar Bank, after multiple reviews of the...more

3/17/2014 - Action to Quiet Title Attorney Misconduct Breach of Contract Unjust Enrichment

Mortgage Banking Industry Fights Use of Eminent Domain To Seize Underwater Mortgage Loans

In the aftermath of the foreclosure crisis, a number of local governments are weighing whether to use the power of eminent domain to assist homeowners struggling with underwater mortgages held by lenders who have issued...more

9/20/2013 - Eminent Domain Lenders Mortgages Municipalities RMBS State and Local Government Underwater Homeowners

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