In New Millennium Homes, Inc. v. Texas Community Bank, NA, a debtor appealed a summary judgment granted to a lender based on a deficiency claim. No. 09-12-00073-CV, 2013 Tex. App. LEXIS 1598 (Tex. App.—Beaumont February 21,...more
On February 7, the House Civil Justice Subcommittee voted to pass Florida’s newest bill designed to improve the efficiency of mortgage foreclosures: House Bill 87. While it is still early in the legislative process, this is a...more
In This Issue:
- Missouri Foreclosures: A Changing Landscape?
- Missouri Law on Non-Judicial Foreclosure: A Primer Measuring Deficiencies Under Missouri Law
- Fischer & Frichtel
- Sunrise Farms
Following a foreclosure sale, a secured creditor may seek a monetary judgment for the deficiency amount that remains owed to it by the borrower. If the creditor was the successful bidder at the foreclosure sale, it has the...more
Your borrower defaulted on a debt secured by real property in Georgia, and you are ready to take action. Is immediate foreclosure the best option?...more
Mortgage lenders in Illinois are required to use the judicial process to obtain collateral and enter deficiency judgments against borrowers. In February 2013, Illinois crafted two new rules adding additional requirements to...more
During a deficiency proceeding, once a creditor introduces the foreclosure sale price, the borrower technically has the burden of presenting evidence to establish the fair market value of the property. In the absence of such...more
Florida State Representative Kathleen Passidomo (R-Naples) may have success this year in changing how Florida handles foreclosures as her proposed House Bill 87, co-sponsored with Florida Representatives Caldwell, Moraitis,...more
California enacted a number of pieces of legislation over the last year or so of great importance to insolvency professionals. These include bills impacting mortgage foreclosures, sales of tax-defaulted property, wage...more
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