News & Analysis as of September 21, 2024

Consumer Bankruptcy › Bank of America

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Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code. Debtors are... more +

All Consuming - Financial Litigation Insights: Issue 4, August 2020

Spilman Thomas & Battle, PLLC on 8/10/2020

Welcome! Welcome to August’s issue of All Consuming. This month, we are taking a deep dive into discharges in bankruptcy and then reviewing several top news stories in the world of consumer finance. We hope you find value...more

Real Property, Financial Services, & Title Insurance Update: Week Ending May 11, 2018

Carlton Fields on 5/16/2018

REAL PROPERTY UPDATE - Summary Judgment: incorporation of an affirmative defense by referencing “previously filed pleadings” does not obviate movant’s obligation to comply with particularity requirements mandated by rule...more

Real Property & Title Insurance Update: Weeks Ending May 29 & June 3, 2016

Carlton Fields on 6/8/2016

REAL PROPERTY UPDATE - Foreclosure/Bankruptcy Stay: because borrower’s notice of appeal was filed during pendency of bankruptcy stay it was a nullity, and appellate court lacked jurisdiction to consider appeal –Hewett v....more

Real Property & Title Insurance Update: Weeks Ending May 13 & May 20, 2016

Carlton Fields on 5/26/2016

REAL PROPERTY UPDATE - Contracts/Personal Liability: official title of “President” underneath signor’s signature on contract did not shield individual from personal liability because contract language reflected...more

Mortgage Acknowledgements: Can A Boo-Boo Be Fixed?

Troutman Pepper on 10/28/2015

Bank of America, N.A. v. Casey, 517 B.R. 1 (D. Mass. 2015) – A Chapter 7 trustee sought to avoid a mortgage using “strong-arm” powers based on a defect in the acknowledgement. The mortgagee contended that the defect was...more

Real Property, Financial Services & Title Insurance Update: Week Ending October 23, 2015

Carlton Fields on 10/27/2015

REAL PROPERTY UPDATE - Foreclosure/Documentary Stamp Tax: deferred interest on a “pick-a-payment” mortgage did not amount to future advance, which would have required payment of documentary stamp tax - Steinberg v. Wells...more

Florida Court Rules Borrowers Who Surrender Property in Bankruptcy Can't Later Take it Back

Baker Donelson on 7/16/2015

Thanks to several recent United States Bankruptcy Court decisions in Florida, mortgage servicers should now expect borrowers who surrender their real property in bankruptcy to not contest foreclosure later. Since the...more

Recent Unanimous Supreme Court Decision Holds That Underwater Mortgages in a Chapter 7 Cannot be “Stripped off"

Seyfarth Shaw LLP on 6/23/2015

The Issue and Background - Debtors David Caulkett and Edelmiro Toledo-Cardona (“Debtors”) each filed for Chapter 7 bankruptcy relief with “underwater” junior mortgages held by Bank of America, N.A. (“Bank”). In other...more

Cramdown Hurdles Round 3: Try, Try Again

Troutman Pepper on 6/17/2015

In re Ramz Real Estate Co., LLC, 510 B.R. 712 (Bankr. S.D.N.Y. 2013) – An undersecured mortgagee objected to a debtor’s proposed plan of reorganization on several grounds, including that (1) the plan was not approved by...more

The Supremes Tell the Eleventh Circuit: No Lien Stripping

Baker Donelson on 6/8/2015

On June 1, 2015, the United States Supreme Court issued a unanimous ruling resolving a split amongst circuit courts in which the 11th circuit was the singular minority, addressing the permissibility of “lien-stripping” in...more

Foreclosures: Beware Unexpected Violations

Troutman Pepper on 5/13/2015

Field v. Bank of America, N.A. (In re Gibbs), 522 B.R. 282 (Bankr. D. Hawaii 2014) – A bankruptcy trustee sued a mortgage lender to recover for defects in a prepetition non-judicial foreclosure sale. The lender brought a...more

BofA Underwater Mortgage Cases Hit Supreme Court

Bilzin Sumberg on 11/21/2014

The U.S. Supreme Court will hear two cases brought by Bank of America regarding whether a second mortgage on an underwater property can be voided during Chapter 7 bankruptcy. Both cases involve Florida homeowners who sued to...more

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Consumer Bankruptcy › Bank of America

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