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Non-Judicial Foreclosures

Womble Bond Dickinson

Conducting Efficient and Successful Commercial Foreclosure Sales in Georgia: The Process and Considerations for Lenders

Womble Bond Dickinson on

As a non-judicial foreclosure state, it is often thought of as being “easy” to foreclose in Georgia. However, the foreclosure process requires more than running an advertisement for four weeks and conducting the sale on the...more

Hinshaw & Culbertson - Consumer Crossroads

The Texas Supreme Court Has Spoken: Mortgage Servicers May Rewind and Restart the Statute of Limitations Clock Within the Same...

Last week, the Texas Supreme Court answered the Fifth Circuit’s certified question as to whether simultaneous rescission and reacceleration can reset the limitations period under Texas Law by holding that “a rescission that...more

Vondran Legal

California Financial Elder Abuse Law in the Real Estate Context

Vondran Legal on

...Financial Elder Abuse Cases in California in the Real Estate context - This blog provides general legal information regarding the topic of financial elder abuse in California, with a focus on cases involving real estate...more

Spilman Thomas & Battle, PLLC

Mitigating the Risk of Loss of a Delinquent Collateral Asset in the Era of Autonomous Zones

Following the death of George Floyd during his arrest in Minneapolis, Minnesota, America experienced months of civil unrest throughout the country. It was during these protests that some began to assert that civil society in...more

Sheppard Mullin Richter & Hampton LLP

SB 1079: Changes to Nonjudicial Foreclosure Process Aim to Benefit Tenants, Primary Residence Occupants and Community Groups;...

After the recent passage of Senate Bill 1079 (“SB 1079”), significant changes to the nonjudicial foreclosure process will go into effect on January 1, 2021 for real properties containing 1 to 4 single-family residences....more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 4, August 2020

Welcome! Welcome to August’s issue of All Consuming. This month, we are taking a deep dive into discharges in bankruptcy and then reviewing several top news stories in the world of consumer finance. We hope you find value...more

Patton Sullivan Brodehl LLP

Rescinding a Trustee’s Sale Based on Lien Position “Mistake” — Good Luck With That

The statutory scheme governing nonjudicial foreclosure — found in California Civil Code sections 2924 through 2924k — aims for speed, efficiency, and finality. For example, a bid at a trustee’s sale is deemed to be an...more

Dechert LLP

Mezzanine Foreclosure in the Time of Coronavirus: The Final Chapter

Dechert LLP on

A decision yesterday by the New York Supreme Court has paved the way for mezzanine lenders to proceed with UCC foreclosure sales in New York City during the pandemic. Yesterday afternoon, Justice Frank Nervo issued an order...more

Seyfarth Shaw LLP

When the Workout Doesn't Work—Enforcement of Commercial Mortgage Loans in California (Part 2: Foreclosures)

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As discussed in Part 1 of this series, the vast majority of California commercial mortgage loan foreclosures are conducted non-judicially. Accordingly, this Legal Update will not address judicial foreclosures. ...more

Dechert LLP

Mezzanine Foreclosures in the Time of Coronavirus

Dechert LLP on

A recent New York County Supreme Court decision has temporarily halted a mezzanine UCC foreclosure sale by granting the borrower’s request for a stay based on allegations that the terms of the mezzanine foreclosure were not...more

BCLP

Foreclosure and Receiver Issues in the United States during COVID-19

BCLP on

The following memorandum provides an overview of the responses of courts and local and state governments of certain jurisdictions, as well as of the federal government, to the COVID-19 outbreak. The analysis has a particular...more

Akerman LLP

The Impact of COVID-19 on Commercial Real Estate Foreclosures in California

Akerman LLP on

As many people are aware, on March 16, 2020, Governor Newsom of California issued an executive order requesting that lenders forbear on both commercial and residential foreclosures and evictions as a result of COVID-19....more

Seyfarth Shaw LLP

When the Workout Doesn't Work—Enforcement of Commercial Mortgage Loans in California (Part 1: Foreclosures)

Seyfarth Shaw LLP on

Borrowers and lenders will continue to struggle with the economic consequences and challenges presented by the COVID-19 pandemic for some time. ...more

Smith Debnam Narron Drake Saintsing & Myers,...

Sixth Circuit Examines Who is a Debt Collector for Purposes of FDCPA Section 1692(f)(6)

The Sixth Circuit Court of Appeals recently explored the limitations of Section 1692(f)(6) and held that a property preservation and maintenance company was not a debt collector for purposes of that section. The opinion...more

K&L Gates LLP

The Massachusetts Supreme Judicial Court Considers the Effect of a State-Mandated Default Notice on the Validity of Non-Judicial...

K&L Gates LLP on

The Massachusetts Supreme Judicial Court (“SJC”) heard argument on February 13, 2020, on whether compliance with a state-mandated default notice could, nevertheless, void foreclosure sales in Massachusetts. ...more

Ward and Smith, P.A.

Best Practices When Liquidating Real Estate-Secured SBA Loans

Ward and Smith, P.A. on

For several years, the United States Small Business Administration (SBA) has experienced continuous growth with its flagship 7(a) and 504 business loan programs. For fiscal year 2018, the SBA made over $24 billion in loans...more

Jones Day

From the Top in Brief: Nonjudicial Foreclosure Not Regulated by the FDCPA

Jones Day on

On March 20, 2019, the U.S. Supreme Court ruled unanimously in Obduskey v. McCarthy & Holthus LLP, 17-1307, 2019 WL 1264579 (U.S. Mar. 20, 2019), that nonjudicial foreclosure is not subject to regulation under the Fair Debt...more

BakerHostetler

Supreme Court Clarifies Scope of the FDCPA as It Relates to Nonjudicial Foreclosures

BakerHostetler on

In Obduskey v. McCarthy & Holthus LLP, the U.S. Supreme Court resolved the circuit split on whether those engaged in nonjudicial foreclosure proceedings are subject to all of the requirements and prohibitions of the Fair Debt...more

Ward and Smith, P.A.

Can I Get Sued Over a Court-Authorized Foreclosure?

Ward and Smith, P.A. on

If a Clerk of Court authorizes a foreclosure sale and the trustee sells the property, can a borrower or other aggrieved party later sue to nullify the foreclosure sale or recover damages caused by the foreclosure? In the...more

Allen Matkins

Entities Engaged Solely In The Enforcement of Security Interests Are Not "Debt Collectors" Under The Fair Debt Collection...

Allen Matkins on

The United States Supreme Court recently issued a unanimous decision in Obduskey v. McCarthy & Holthus LLP holding that entities engaged in the principal purpose of enforcing security interests are not, with limited...more

K&L Gates LLP

U.S. Supreme Court Rules that Entities Conducting Nonjudicial Foreclosures Are Not Debt Collectors under the FDCPA

K&L Gates LLP on

In Obduskey v. McCarthy & Holthus LLP, the U.S. Supreme Court held unanimously that entities engaged in no more than security-interest enforcement (here, nonjudicial foreclosure) are not debt collectors under the Fair Debt...more

Balch & Bingham LLP

Supreme Court: FDCPA (Sometimes) Does Not Apply to Nonjudicial Foreclosures

Balch & Bingham LLP on

In Obduskey v. McCarthy & Holthus, LLP, the United States Supreme Court unanimously held the Fair Debt Collection Practices Act does not apply to a law firm conducting a nonjudicial foreclosure....more

Bricker Graydon LLP

Supreme Court opens door (a bit) to argument that in rem foreclosures not covered by FDCPA

Bricker Graydon LLP on

On March 20, 2019 in Obduskey v. McCarthy & Holthus LLP, a unanimous U.S. Supreme Court held that the primary definition of a “debt collector” under the Fair Debt Collection Practices Act (FDCPA) does not apply to an entity...more

Parker Poe Adams & Bernstein LLP

Well Thank Goodness: Collateral Estoppel Does Apply to N.C. Foreclosures

The current good economy (going on almost 10 years now) has meant that North Carolina appellate decisions affecting lenders trying to collect defaulted debt have been few and far between in the last couple of years. The North...more

Seyfarth Shaw LLP

Unanimous Supreme Court Ruling On the Fair Debt Collection Practices Act

Seyfarth Shaw LLP on

Seyfarth Synopsis: In a 9-0 Supreme Court ruling last week, the Court spoke to issues concerning the Fair Debt Collection Practices Act (FDCPA) and non-judicial foreclosures....more

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