News & Analysis as of

Foreclosure

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

Additional guidance from HUD/Freddie/Fannie/Ginnie/VA on mortgage-related disaster relief for hurricane victims

by Ballard Spahr LLP on

In addition to the guidance regarding Hurricane Harvey disaster relief, the housing agencies and government-sponsored enterprises (GSEs) recently addressed the mortgage-related relief available to victims of both Hurricane...more

600,000 Reasons to Comply with the Fair Credit Reporting Act

by Ward and Smith, P.A. on

The United States Court of Appeals for the Fourth Circuit—which covers federal courts in North Carolina—recently affirmed a borrower’s victory against a loan servicer under the federal Fair Credit Reporting Act (“FCRA”). In...more

Not a Time for Second Thoughts: EDNY Holds Settlement Approval Stage Is No Escape Route

by Dechert LLP on

U.S. Bankruptcy Rule 9019 provides that on a motion brought by a trustee (and thus a chapter 11 debtor-in-possession as well) the court may approve a settlement. The prevailing view is that due to the court’s approval...more

No Surrender: Massachusetts Appeals Court Preserves Foreclosure Challenges for Bankruptcy Petitioner

by Hinshaw & Culbertson LLP on

Like Bruce Springsteen, a Massachusetts bankruptcy debtor said "no surrender" when it came to his home. In EverBank v. Chacon, a panel of the Massachusetts Appeals Court issued a non-binding decision that a debtor's...more

Real Property & Title Insurance Update: Week Ending September 1, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure / Statute of Limitations: trial court improperly found that, because payments due under a note and mortgage were accelerated in a prior 2009 action, the second action filed over five...more

Real Property & Title Insurance Update: Week Ending August 18 & 25, 2017

by Carlton Fields on

Foreclosure: general reservation of jurisdiction in a foreclosure judgment is very limited, and certainly does not give trial court jurisdiction to eliminate a lien more than three years after Final Judgment of Foreclosure...more

Recording a Trustee’s Deed is Privileged Under CA Civil Code Section 47

California law is pretty clear that the recordation of a notice of default and notice of sale — two key documents that are a prerequisite to a nonjudicial foreclosure sale (aka trustee’s sale) — are privileged and cannot form...more

Banking & Financial Services E-Note - August 2017

by Burr & Forman on

In an article published on August 17, 2017 by Law360, Burr’s Larry Litow and Kapila Mukamal’s Barry Mukamal discuss their recent involvement in a case involving a South Florida beachfront condominium hotel that successfully...more

Big Win for Servicers and Lenders of Fannie and Freddie Owned Loans against Nevada HOA Foreclosures

Last week, the U.S. Court of Appeals for the Ninth Circuit issued a significant decision in favor of lenders and mortgage servicers fighting off claims that their mortgage liens were extinguished by Nevada homeowners...more

Eleventh Circuit Moves Toward Bright Line Rule That Debtors Cannot Retain Real Property Post- Discharge Without Reaffirming the...

by Burr & Forman on

Last year, Burr & Forman lawyers won a decisive victory in the Eleventh Circuit, in the case of In re Failla, 838 F.3d 1170 (11th Cir. 2016). In Failla, the Eleventh Circuit held that a debtor who files a statement of...more

Eleventh Circuit Clarifies Meaning of Consummation of Transaction in Dismissing Borrowers’ TILA Right of Rescission Claim

by Blank Rome LLP on

In Woide v. Federal Nat’l Mortg. Ass’n, the United States Court of Appeals for the Eleventh Circuit held that consummation of a contract for purposes of asserting a right of rescission under the Truth in Lending Act (“TILA”)...more

Real Property & Title Insurance Update: Week Ending August 11, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Short Sale/Statute of Limitations: Florida Statute section 95.11(5)(h)’s one year statute of limitations period does not apply to bar Bank’s cause of action for deficiency judgment arising...more

Transfer To Non-Existent Corporation Held To Be A Transfer Nonetheless

by Allen Matkins on

Sometimes, the law is just weird. The case of PGA West Residential Ass’n, Inc. v. Hulven Int’l, Inc., Cal. Ct. App. Case No. E064270 (Aug. 9, 2017) is weirder than most. The lawsuit alleged that the defendant had tried to...more

Upcoming Amendments to Bankruptcy Rule 3002 to Impact Bankruptcy Filing Practices for Mortgagees

by K&L Gates LLP on

Effective December 1, 2017, certain amendments to the Federal Rules of Bankruptcy Procedure (“the Bankruptcy Rules”) recently adopted by the Supreme Court will impact the allowance of secured claims in bankruptcy. Below, we...more

Debtor May Be Entitled to Credit for “Reasonable Value” of Property Purchased by Lender at Mortgage Foreclosure Sale

by Stoel Rives LLP on

In Idaho, it has long been understood that a secured creditor that has foreclosed a mortgage may be able to also get a judgment against the debtor for the remainder of the debt, if the proceeds of the foreclosure sale are not...more

Real Property & Title Insurance Update: Week Ending July 28 & August 4, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Redemption: foreclosure sale conducted without knowledge of bankruptcy affirmed, but trial court orders denying mortgagor opportunity to redeem property before certificate of sale actually...more

News from AGG's Retail Industry Team - Summer Edition

Title III of the Americans with Disabilities Act (ADA) provides “[n]o individual shall be discriminated against on the basis of disability in the full and equal enjoyment of the goods, services, facilities, privileges,...more

Sixth Circuit: Firm's Post-Foreclosure Conduct Does Not Violate FDCPA

by Ballard Spahr LLP on

Recently, the U.S. Court of Appeals for the Sixth Circuit affirmed the dismissal of a lawsuit brought against a foreclosure firm—Reimer, Arnovitz, Chernek & Jeffrey (the Reimer firm)—under the Fair Debt Collection Practices...more

How Does a Foreclosure Affect a Retail Lease?

A foreclosure by a lender of a landlord’s property terminates all subordinate leases on the property. In the absence of an SNDA, then whether a lease is subordinate is determined by the timing of the mortgage or similar...more

Real Estate Finance: Massachusetts

by WilmerHale on

A Q&A guide to real estate finance law for borrowers and lenders in Massachusetts. This Q&A addresses state laws relating to security instruments, usury laws, limitations on personal liability, recording requirements and...more

Banking & Financial Services E-Note - July 2017

by Burr & Forman on

What does a recent Georgia Supreme Court case mean for the viability of the state's confirmation statute? Atlanta Partner Erich Durlacher explores answers in this Alert. Please see full E-Note below for more information....more

When the Same Lender Has Both a Senior and Junior Deed of Trust….

If the same lender has both a senior and junior deed of trust on the same security property, can that lender foreclose on the senior lien by trustee’s sale, and then sue the debtor personally for the junior debt?...more

Key issues in negotiating financeable ground leases

by Thompson Coburn LLP on

Ground leases are generally long-term leases of property entered into between a property owner and tenant where the tenant leases land and subsequently constructs a building or other improvements on that land. Since ground...more

Real Property & Title Insurance Update: Week Ending July 14 & 21, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Standing: note owner had constructive possession of promissory note in original servicer’s physically possession of blank-endorsed note when it filed the complaint, and had standing to...more

Need Another Reason To Avoid Mixing Family & Finances?

by Bryan Cave on

You have a big heart and a little bit of money. You want to help out a cash-strapped family member, and – “because you’re family” – you don’t put down how much you’ll loan or how it’ll be paid back. ...more

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