Deficiency Judgments

Court Upheld A Waiver Of Property Code Rights And Affirmed A Deficiency Judgment Based On The Foreclosure Price

by David Johnson | Winstead PC on 5/14/2013

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

Rogers Towers: HB 87 – Florida’s Foreclosure Bill is Back

by Douglas L. Waldorf, Jr., Sara White | Rogers Towers on 3/22/2013

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

A Loan Enforcement e-Newsletter - Missouri Foreclosures: A Changing Landscape?

by Brett Anders, Michael A. Campbell | Polsinelli on 3/15/2013

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 -...more

Rogers Towers: Florida Deficiency Proceedings: Establishing the Value of the Property

by Scott J. Kennelly, Janet C. Owens | Rogers Towers on 3/12/2013

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

Before You Foreclose: Planning for Confirmation in Georgia

by Ashley Thompson | Baker, Donelson, Bearman, Caldwell &... on 3/11/2013

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

Lenders Must Comply with New Foreclosure Requirements in Illinois Courts

by Christopher W. Carmichael, Francis L. Keldermans | Holland & Knight LLP on 3/8/2013

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

Rogers Towers: Florida Deficiency Proceedings: Effect of Bids at the Foreclosure Sale

by Scott J. Kennelly | Rogers Towers on 2/21/2013

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

Will State Rep. Kathleen Passidomo's HB 87 Become Florida Law, Revamping the Florida Judicial Foreclosure Process? Maybe, Yes.

by Rosa Eckstein Schechter on 2/15/2013

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

Insolvency Legislative Update - February 2013

by Gary Kaplan | Farella Braun + Martel LLP on 2/5/2013

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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