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Foreclosure › Deficiency Judgments › Borrowers

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 -
Pillsbury Winthrop Shaw Pittman LLP

Distressed Real Estate During the COVID-19 Pandemic: Deeds in Lieu of Foreclosure Involving Commercial Real Estate

Pillsbury Winthrop Shaw Pittman LLP on

In a deed in lieu of foreclosure, a defaulting borrower agrees to convey the mortgaged property to the mortgage lender. But handing over the keys can raise a number of potential pitfalls. Below, we discuss some of these...more

Ward and Smith, P.A.

North Carolina Supreme Court Adopts "Substantial Competent Evidence" Requirement for Borrowers Asserting "True Value" Defense in...

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On Friday, May 5, 2017, in a major victory for lenders, the North Carolina Supreme Court reversed the North Carolina Court of Appeals’s decision in United Community Bank v. Wolfe. In July 2015, the Court of Appeals decided in...more

Shutts & Bowen LLP

No right to jury trial in foreclosure, even where lender seeks money judgment on promissory note

Shutts & Bowen LLP on

Given the choice, a borrower in foreclosure may prefer that a jury determine her fate, rather than a judge.  But by statute, “[a]ll mortgages shall be foreclosed in equity” and “foreclosure claim[s] shall, if tried, be tried...more

Bradley Arant Boult Cummings LLP

Indiana Court Weighs in Deficiency Judgments

Bradley Arant Boult Cummings LLP on

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

Womble Bond Dickinson

High Point Bank v. Highmark and Guarantor Liability in North Carolina

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When a borrower’s default results in a foreclosure sale and purchase of the secured property by the mortgagee lender, can a guarantor’s deficiency liability be reduced by the difference between the property’s fair market...more

Snell & Wilmer

Borrowers Can Avoid Liability Even After a Trustee’s Sale

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Since a lender must have a valid debt and valid lien to conduct a trustee’s sale, a borrower that allows the foreclosure sale to occur impliedly agrees that the debt and lien are valid. In Madison v. Groseth and BT Capital,...more

Nossaman LLP

The Demise of Deficiency Judgments in Residential Loans

Nossaman LLP on

Among the many changes in the financial services industry, two important events occurred this year that effectively signaled the extinction of deficiency judgments in loans secured by residential property. ...more

Polsinelli

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

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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 - Conclusion...more

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