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Mortgages › Dischargeable Debts

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 -
Cozen O'Connor

The State AG Report – 9.7.2023

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Google Reaches Settlement with AGs from 50 States, D.C.,...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending October 4, 2019

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Real Property Update - Foreclosure / Bankruptcy / Surrender: borrower cannot challenge judgment of foreclosure entered upon judicial notice of his statement of intention to surrender the property and order of discharge...more

Bradley Arant Boult Cummings LLP

Part III: Navigating the Maze of Servicing Discharged Debt

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Part III: Modifications Post-Discharge - Welcome to Part III of our series on the servicing of discharged mortgage debt. This part will discuss modifying a borrower’s loan after a discharge. (If you missed Part I or Part...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending March 8, 2019

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Real Property Update - Lis Pendens: trial court erred by not discharging lis pendens concerning real property because defendant did not grant an interest in the property, and plaintiff's claims did not allege requisite fair...more

Bradley Arant Boult Cummings LLP

Part II: Navigating the Maze of Servicing Discharged Debt

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Welcome to Part II of our series on the servicing of discharged mortgage debt (catch up on Part I). This part will discuss communications to discharged borrowers and evaluate various disclaimers that can be utilized. The...more

Bradley Arant Boult Cummings LLP

Part I: Navigating the Maze of Servicing Discharged Debt

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Mortgage servicers are plagued by their nebulous relationships with the borrowers who discharge their personal liability in bankruptcy. Issues arise when the borrower whose debt has been discharged continues to engage with...more

Ballard Spahr LLP

U.S. District Court for the Southern District of Florida Narrows the Definition of Borrower Under RESPA

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In 2014, the Consumer Financial Protection Bureau (CFPB) promulgated a number of mortgage servicing rules, including rules governing loss mitigation procedures. ...more

Burr & Forman

Eleventh Circuit Moves Toward Bright Line Rule That Debtors Cannot Retain Real Property Post- Discharge Without Reaffirming the...

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Last year, Burr & Forman lawyers won a decisive victory in the Eleventh Circuit, in the case of In re Failla, 838 F.3d 1170 (11th Cir. 2016). In Failla, the Eleventh Circuit held that a debtor who files a statement of...more

Pierce Atwood LLP

Maine Mortgagees: Send Your Mortgagor the Actual Recorded Release, Not a Copy

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On September 13, Maine’s Supreme Judicial Court (the “Law Court”), in a 4-2 split decision, issued an opinion that may expose mortgagees and mortgage servicers to significant liability under the Maine statute that governs the...more

BCLP

Helpful Cases for Mortgage Servicers Attempting to Comply with Mortgage Servicing Regulations After a Bankruptcy Discharge

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Mortgage lenders and servicers face several regulations in servicing residential mortgages. There are requirements under the Truth in Lending Act (“TILA”), Real Estate Settlement Procedures Act (“RESPA”), the Equal Credit...more

Stinson LLP

Lack of Reaffirmation Agreement Results in Finding That Bank Violated Discharge Injunction by Enforcing Post-Bankruptcy Loan...

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In Venture Bank v. Lapides, 800 F.3d 442 (8th Cir. 2015), the Eighth Circuit found that a bank could not recover from its borrower and, in fact, had violated the post-discharge injunction by relying on change in terms...more

Ballard Spahr LLP

New York Appellate Court Confers Standing on Assignee of Note Previously Discharged in Bankruptcy

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A mortgage lender has standing to foreclose even when it obtains assignment of the underlying promissory note after the note has been discharged in bankruptcy, a New York appellate court has ruled. The case arose after the...more

McCarter & English, LLP

The Supreme Court Continues Stability In The Secondary Mortgage Market

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On Monday, the Supreme Court reaffirmed the principle that junior “underwater” residential mortgage liens can “pass through” a bankruptcy case unaffected. In Bank of America, N.A. v. Caulkett, the Supreme Court held...more

Buchalter

The Supreme Court Prohibits Chapter 7 Debtors From Stripping Off Wholly Underwater Liens in Bankruptcy

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On June 1, 2015, the United States Supreme Court in Bank of America, N.A. v. Caulkett, 575 U.S. ____ (2015), unanimously held that a Chapter 7 debtor cannot strip off wholly “underwater” liens secured by the debtor’s...more

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