Foreclosure New Legislation

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 -
News & Analysis as of

Foreclosure Protection for Service members Extended by Congress

In 2008 Congress passed legislation which extended the protection from foreclosure actions for active duty servicemembers for up to 9 months after the end of a servicemember’s military service. In 2012, Congress extended...more

Difficulties Foreclosing in Massachusetts

Foreclosing a mortgage in Massachusetts can be a pain. Among the many, very technical requirements, a foreclosing mortgagee must be able to prove that it is the holder, or the authorized representative of the holder, of the...more

SCRA Will Continue to Receive Regulatory Scrutiny

On March 22, 2016, the U.S. House of Representatives passed the Foreclosure Relief and Extension for Servicemembers Act of 2015. This bill was signed into law by President Obama on March 31, 2016. This follows the...more

“An Act Clearing Titles to Foreclosed Properties” in Massachusetts … Maybe

On November 25, 2015, Governor Charlie Baker did what his predecessor, Deval Patrick, did not do -- he signed “An Act Clearing Titles to Foreclosed Properties” (the “Act”), which is designed to clear legal title for...more

Notice Requirements for Protection of Tenants in Foreclosure Actions Session Law 2015-178

The Federal “Protecting Tenants in Foreclosure Act of 2009” expired on December 31, 2014. The North Carolina General Assembly has adopted Session Law 2015-178 which reinstates many of the same protections for tenants as...more

Liberalization of Louisiana Foreclosure Law: Cat on a Hot Tin Roof

Legislation liberalizing Louisiana foreclosure law was signed by Louisiana’s governor on June 5. House Bill 697 becomes effective on August 1, 2015. One particular area where lenders strive to use technology involves...more

Newly-Enacted Texas Law Confirms Mechanism for Lenders to Unilaterally Rescind Acceleration

On June 17, 2015, Governor Greg Abbott signed House Bill 2067, which amends the Texas Civil Practice and Remedies Code to provide a clear mechanism for lenders to unilaterally rescind acceleration of a defaulted loan. ...more

Nevada Amends Laws Regarding Homeowners’ Association Liens

While an amended Nevada Senate bill does not change the Nevada Supreme Court’s seminal holding that an association lien is a true priority lien that, when properly foreclosed, may extinguish a first deed of trust, the new law...more

Nevada Senate Passes Bill Affecting Super-Priority Liens in Foreclosure

The Nevada Legislature recently passed a bill intended, in part, to address issues resulting from the Nevada Supreme Court’s decision that a homeowners association lien is a true super-priority lien that, if foreclosed,...more

Client Alert: New Florida Law Protecting Tenants in Foreclosure

New Florida Law Protecting Tenants in Foreclosure - On June 2, 2015, Florida Governor Rick Scott signed into a law a new statute titled "Termination of rental agreement upon foreclosure," which became effec­tive upon...more

Congress votes unanimously to extend SCRA one-year foreclosure protection period

Congress has unanimously approved legislation to extend until January 2016 a provision of the Servicemembers Civil Relief Act (SCRA) that prohibits foreclosing on a servicemember’s house for one year following the...more

A Welcome Change of Law in NC: A Workable Framework for Transferring Declarant Rights in a Foreclosure or Deed in Lieu

Good news! The murkiness surrounding declarant rights in North Carolina became a little clearer this summer. On July 7, 2014, Governor McCrory signed an amendment to the Planned Community Act addressing the transfer of...more

Changes to Rhode Island Foreclosure Statute Require Mediation for Certain Foreclosures

Changes to Rhode Island foreclosure law are set to become effective for certain mortgage foreclosures on September 12, 2013. New Section 34-27-3.2 entitled “Mediation Conference” has been added to Rhode Island General Laws,...more

Court Rulings as Drivers of Mortgage Foreclosure Legislation

My crystal ball tells me to anticipate the passage of new mortgage foreclosure legislation during the 2014 session of the Minnesota State Legislature. And if I am right, what will be unique about this is that, unlike the...more

Recent, Significant Changes in Florida's Law of Foreclosure

On June 7, 2013, Florida Governor Rick Scott signed into law House Bill 87, now known as Chapter 2013-137, which provides for substantial changes in mortgage foreclosures filed in Florida....more

The Impact of Dual Tracking Restrictions on Foreclosure Rates in California

Foreclosure rates are declining in California. Many tout an improving economy as a reason for this trend. The impact of new legislation that restricts lenders and mortgage servicers from foreclosing on residential mortgages...more

Governor Scott Signs Expedited Foreclosure Bills

Legislative Response to the Mortgage Foreclosure Crisis - The mortgage foreclosure crisis has exacted a toll on Florida’s economy and judiciary. In the span of four years, foreclosure filings in Florida increased almost...more

Foreclosure Avoidance Mediation Program is Expanding to Include Judicial Foreclosures

On June 4, 2013, Oregon Governor John Kitzhaber signed into law Senate Bill 558, which expands the Foreclosure Mediation Program created in 2012 to include judicial foreclosures. The original program applied only to...more

Wrap-Up of Alabama Legislature Actions

The Alabama Legislature adjourned near midnight on May 20, closing a session that saw lawmakers grant final passage of the two operating budgets and of amendments to the controversial Alabama Accountability Act. With respect...more

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