News & Analysis as of September 19, 2024

Foreclosure › Default Judgment

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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 -

Does surrender in bankruptcy accelerate a debt? - McGlinchey Commercial Law Bulletin February 25, 2022

McGlinchey Stafford on 2/28/2022

McGlinchey’s Commercial Law Bulletin is a biweekly update of recent, unique, and impactful cases in state and federal courts in the area of commercial litigation. We’re pleased to expand our Commercial Law Bulletin from its...more

Confessed Judgments May Not Be the Gifts to Plaintiffs That They Imagine

Sands Anderson PC on 12/2/2021

From time to time, a contract will have a “confessed judgment” clause in it. These clauses can be a valuable tool in an agreement. Take for example, an agreement to lend money. If my agreement with you to lend you money...more

Real Property, Financial Services, & Title Insurance Update: Week Ending July 31 , 2020

Carlton Fields on 8/12/2020

Real Property Update - Foreclosure / Surviving Lien: Lender’s lien on mobile home survived foreclosure sale of property where mobile home was located; mobile home remained personal property outside scope of foreclosure –...more

Indiana Court Weighs in Deficiency Judgments

Bradley Arant Boult Cummings LLP on 11/19/2015

The Indiana Court of Appeals recently held that creditors must move for an in personam remedy in the original foreclosure judgment or forfeit their right to collect deficiency funds. In Elliott v. Dyck O’Neal, the bank...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 18, 2015

Carlton Fields on 9/25/2015

REAL PROPERTY UPDATE - Default Judgment/Voidable: because default judgment was merely voidable, rather than void, where complaint upon which judgment was based failed to state a cause of action, Rule 1.540(b) was not...more

Real Property, Financial Services & Title Insurance Update: Week Ending April 3, 2015

Carlton Fields on 4/6/2015

REAL PROPERTY UPDATE - Judgment: amount awarded in judgment of foreclosure must be supported by competent evidence and lender not entitled to award of interest or fees when only statement in evidence reflected...more

Unsettled Questions Remain Under The SCRA

Carlton Fields on 5/7/2014

The Servicemembers Civil Relief Act (SCRA) protects active duty members of the military in civil actions, including foreclosures and collections. Section 533 of the Act applies to persons entering the military after incurring...more

An Overview of the Receivership Process in Tennessee

Baker Donelson on 7/23/2013

Lenders have a number of options when faced with a borrower in default. In Tennessee, one option to seriously consider is seeking appointment of a receiver. A receiver will step into the role of the borrower or management...more

Tax Lien Purchasers Must Give MERS Notice, Says Arizona Appeals Court

Snell & Wilmer on 6/4/2013

Recognizing MERS’s role in modern day mortgage lending, the Arizona Court of Appeals confirmed in Delo v. GMAC Mortgage, LLC that tax lien purchasers must notify MERS when identified in the Deed of Trust before foreclosing on...more

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Foreclosure › Default Judgment

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