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Mortgages › Condominium Associations

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Saul Ewing LLP

Associations Need to be Prepared for Mortgage Lenders’ Inquiries About Structural Issues, Significant Deferred Maintenance and...

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For many years, associations and their managers have responded to questionnaires from mortgage lenders that seek information about the condominium association to help the lender determine whether a loan to a unit owner or...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending July 19, 2019

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Real Property Update - Foreclosure / Condo Assessments: under section 718.116(1)(a), Florida Statutes, present condo owner is jointly and severally liable with the previous owner for unpaid assessments and related expenses...more

Bradley Arant Boult Cummings LLP

Nevada Supreme Court Rules Bank Tender Defeats HOA Superpriority Lien

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As lenders and servicers continue to litigate in Nevada’s state and federal courts about the effect of homeowner associations’ (HOAs) foreclosure sales, some questions have proven particularly sticky. What happens when a...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending June 15 & 22, 2018

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REAL PROPERTY UPDATE - - Equitable Lien/Foreclosure: lender entitled to an equitable lien, but not entitled to foreclose on that lien where was no showing of default on mortgage from which the lien arose - Rozanski v....more

Foley & Lardner LLP

A Trifecta of Legal Victories for Lenders in Florida

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Deutsche Bank Trust Co. v. Beauvais, Case No.: 3D14-575 (Fla 3rd DCA April 13, 2016) - Based on Beauvais, lenders should take a look at their loan documents, paying particular attention to any non-waiver and...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending April 1, 2016

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REAL PROPERTY UPDATE - - Foreclosure: remittitur, rather than reversal of summary judgment, is proper where lender failed to provide sufficient evidence of late charges at summary judgment – Newman v. Ocwen Loan...more

K&L Gates LLP

Mortgage Lenders, Holders, and Servicers Beware: Massachusetts High Court Endorses Condominium Association’s Super Lien Practice

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In a decision that should be read as a warning to mortgage industry participants doing business in the Commonwealth of Massachusetts, the state’s high court has validated a condominium associations’ so-called “rolling”...more

Ballard Spahr LLP

Condominium Association Liens Have "Super-Priority" Over First Mortgage Liens, Rhode Island Supreme Court Holds

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The Supreme Court of Rhode Island, in a 4-1 decision, recently joined a growing list of states that allow a homeowners or condominium association lien for delinquent assessments to take priority over, and potentially wipe...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Weeks Ending June 26 & July 3, 2015

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REAL PROPERTY UPDATE - Standing: parent entity has no right to enforce note and mortgage owned by subsidiary entity absent evidence that parent entity acquired such right – Wright v. JPMorgan Chase Bank, N.A., Case No....more

Ballard Spahr LLP

Nevada Senate Passes Bill Affecting Super-Priority Liens in Foreclosure

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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

Bradley Arant Boult Cummings LLP

Second Bite At Fla. Foreclosures May Not Be So Sweet

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Financial services companies pursuing judicial foreclosures in Florida already face a host of unique and challenging hurdles. The varying and often court- or judge-specific procedural, substantive and evidentiary requirements...more

Ballard Spahr LLP

D.C. Court of Appeals, Nevada Supreme Court Extinguish Lender's Mortgage Lien Following Association Lien Foreclosures

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A recent decision by the District of Columbia Court of Appeals brings into renewed focus the tension between condominium/homeowner associations and lenders when it comes to payment of delinquent association assessment...more

Ballard Spahr LLP

D.C. Court of Appeals Extinguishes Lender’s Mortgage Lien Following Association Lien Foreclosure

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A recent decision by the District of Columbia Court of Appeals brings into renewed focus the tension between condominium and homeowner associations and lenders when it comes to payment of delinquent association assessment...more

Levenfeld Pearlstein, LLC

Illinois Case Law and Legislation Update

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Effective January 1, 2015, Section 18.4 of the ICPA was amended to permit a condominium Board of Directors to adopt and amend its rules and regulations to allow for electronic delivery of notices and other communications...more

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