News & Analysis as of September 21, 2024

Foreclosure › Internal Revenue Code (IRC)

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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 -

IRS Private Letter Ruling Concludes REMIC Can Hold C-PACE Assessments

Dechert LLP on 6/13/2024

Dechert LLP recently obtained an IRS private letter ruling (“PLR”) on behalf of an asset manager concluding that certain C-PACE assessments are “obligations . . . secured by an interest in real property” for purposes of the...more

Debt Forbearance/Settlement Agreements: One of the Most Important and Often Overlooked Clauses

White and Williams LLP on 6/26/2020

The economic impact of the global COVID-19 pandemic will likely result in a considerable number of borrower defaults, workouts and debt restructurings. An often overlooked but significant consequence of debt modifications or...more

Court Upholds Foreclosure on Taxpayer’s Primary Residence in Satisfaction of Federal Tax Lien

Miles & Stockbridge P.C. on 3/23/2016

In United States v. Smith, 117 AFTR 2d 2016-XXXX (February 8, 2016), the U.S. District Court for the Western District of Washington allowed the Federal government to foreclose on the taxpayers’ primary residence in...more

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Foreclosure › Internal Revenue Code (IRC)

IRS Private Letter Ruling Concludes REMIC Can Hold C-PACE Assessments

Debt Forbearance/Settlement Agreements: One of the Most Important and Often Overlooked Clauses

Court Upholds Foreclosure on Taxpayer’s Primary Residence in Satisfaction of Federal Tax Lien

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