Remedies for defaults under loans secured by real property varies on a state-by-state basis. In the eastern part of the country, enforcement is mostly by mortgage foreclosure. In the western states, there are enforcement...more
Over the last few years, certain nontraditional lenders and a few banks have asked for a pledge of the ownership interest in borrowers as additional security to their mortgage on the property....more
The Distressed Condominium Relief Act enacted as Part VII of the Condominium Act in 2010 (“Act”) was a temporary measure to encourage absorption of unsold condominium units arising as a result of the Great Recession. This...more
6/17/2015
/ Condominium Act ,
Condominiums ,
Construction Defects ,
Construction Industry ,
Distressed Properties ,
Florida ,
Foreclosure ,
Lenders ,
Miami ,
Mortgages ,
Real Estate Market ,
Residential Real Estate Market ,
Sunset Provisions
First mortgage lenders acquiring title to collateral consisting of condominium units or homes in a homeowners community are afforded protection against assessment liability under both the Florida Condominium Act (Chapter 718...more
The purpose for the Florida Fair Foreclosure Act, which became effective in July, was to speed up the residential and commercial foreclosure process in Florida, where a foreclosure could take more than two years from start to...more
HB 87, a controversial foreclosure bill that passed the Legislature, was signed into law by Governor Rick Scott on June 7, 2013 to become Chapter 2013-137 of Florida laws....more