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Amended Legislation Foreclosure

Holland & Knight LLP

Little-Known Chicago Rental Ordinance Amendment Impacts Unsuspecting Foreclosing Lenders

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A foreclosing lender must offer existing Chicago tenants a new 12-month lease or pay them a substantial $10,600 relocation fee – and the tenant can decide which one to choose. This 2021 amendment to the Keep Chicago Renting...more

Miller Canfield

Supreme Court Rules That Property Tax Foreclosures Can Violate the “Takings Clause” of the U.S. Constitution

Miller Canfield on

On May 25, 2023, the United States Supreme Court issued its decision in Tyler v. Hennepin County, Minnesota, holding that a state tax foreclosure violates the “Takings Clause” of the U.S. Constitution when it “provides no...more

Foley Hoag LLP

The $2 Trillion Federal CARES Act: The Key Financial Assistance Provisions, Key Legislative Changes, and Next Steps

Foley Hoag LLP on

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) is a comprehensive economic relief plan designed to stabilize and uplift the American economy during the COVID-19 pandemic. It is unique not only because...more

Ward and Smith, P.A.

Your Foreclosure Hearing Just Got More Crowded

Ward and Smith, P.A. on

On August 30, 2017, an amendment to North Carolina’s foreclosure statutes took immediate effect. The amended statute, Section 45-10, concerns substitute trustees under a deed of trust. As amended, Section 45-10 now prohibits...more

Ballard Spahr LLP

One-Year Period of SCRA Foreclosure Protection Remains in Effect through 2017

Ballard Spahr LLP on

On March 31, 2016, President Obama signed into law the Foreclosure Relief and Extension for Servicemembers Act of 2015, which continues through December 2017 a provision of the Servicemembers Civil Relief Act (SCRA) that...more

Bradley Arant Boult Cummings LLP

Tennessee Amends Condominium Lien Law to Clarify Lack of Superpriority Right

On April 19, 2016, Tennessee Governor Bill Haslam signed HB 2401, amending Tennessee’s condominium statue to make it clear that condominium associations cannot acquire a “superpriority” lien that trumps a first security...more

Bradley Arant Boult Cummings LLP

North Carolina Governor Signs HB 174/Session Law 178 into Law – Altering Foreclosure Rights & Remedies in the Landlord-Tenant...

North Carolina Governor Pat McCrory signed HB 174/Session Law 178 into law on August 5, modifying several requirements to the foreclosure process in the landlord-tenant context. Of particular importance, the bill amended the...more

Partridge Snow & Hahn LLP

Rhode Island General Assembly Clarifies Intent of Foreclosure Mediation Law

In what can only be perceived as a response to a recent Superior Court decision, the Rhode Island General Assembly amended the applicability of the Foreclosure Mediation Law, R.I. Gen. Laws § 34-27-3.2, for the third time in...more

Locke Lord LLP

Illinois Legislature Deals Deathblow to Dina

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Recently, in a rare display of bipartisanship, the Illinois House and Senate passed—almost unanimously—an amendment to the Illinois Residential Mortgage License Act, 205 ILCS 635/1-1 et al. (IRMLA). On July 23, 2015, Governor...more

Snell & Wilmer

Nevada Legislation Restores Rights to Note Purchasers

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The Nevada Legislature ended its 2015 session on June 1. The Nevada Legislature meets in odd numbered years for 120 days, so it will not meet again until 2017, unless the Governor calls a special session. The Legislature...more

Bradley Arant Boult Cummings LLP

Notice Me: The New Notice Requirements for HOA Lien Foreclosures in Nevada

In a previous blog post, we reported on Senate Bill 306, passed by Nevada Governor Brian Sandoval on May 28, 2015. The legislation redresses the substantial harm caused by SFR Investments Pool 1, LLC v. U.S. Bank, N.A. In SFR...more

Locke Lord LLP

Locke Lord QuickStudy: Rhode Island Superior Court Decision Impacting Servicers

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A Rhode Island superior court recently ruled that, pursuant to R.I. Gen. Laws § 34-27-3.2, foreclosing lenders are required to send mediation notices in any foreclosure initiated after the effective date (October 2014)...more

Snell & Wilmer

Nevada Foreclosure Law Changes

Snell & Wilmer on

The Nevada Legislature recently passed amendments to the Nevada Revised Statutes (NRS) that appear to be intended to ease the nonjudicial foreclosure process for lenders and provide meaningful disclosure of what borrowers...more

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