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Breach of Contract › Foreclosure › Borrowers

Morrison & Foerster LLP

Scrivener’s Error in Guaranty Reformed Outside of Statute of Limitations and Held Enforceable

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In an appeal heard by the Appellate Division of the Supreme Court in the First Judicial Department of New York, the Court recently ruled that a court may reform a guaranty after the statute of limitations for a reformation of...more

Cadwalader, Wickersham & Taft LLP

Further Developments in Mezzanine Foreclosures

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The New York State Supreme Court, New York County Commercial Division (the “Court”) decided in U.S. Bank, N.A. v. 342 Property LLC, on February 14, 2022, that a mezzanine lender that is not a party to loan documents that...more

Rosenberg Martin Greenberg LLP

"No Harm, No Foul:” Suit to Set Aside Foreclosure Sale for Failure to Comply With Deed of Trust Doomed By Failure to Allege That...

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The opinion of the Virginia Supreme Court of Appeals in Young-Allen v. Bank of America provides both hope for lenders frustrated by borrowers who delay inevitable foreclosure sales by requiring the lender to comply with every...more

Ballard Spahr LLP

Virginia Supreme Court Allows Damages Claim for Violation of HUD Regulation Requiring Face-to-Face Meeting before Seeking...

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The Virginia Supreme Court recently expanded the grounds under which a private borrower can sue a lender for violations of HUD regulations. In Squire v. Virginia Housing Development Authority, a decision issued on April 17,...more

Snell & Wilmer

Borrowers Can Avoid Liability Even After a Trustee’s Sale

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Since a lender must have a valid debt and valid lien to conduct a trustee’s sale, a borrower that allows the foreclosure sale to occur impliedly agrees that the debt and lien are valid. In Madison v. Groseth and BT Capital,...more

Baker Donelson

"I Knew You Were Trouble": Recent Trends in Lender Liability Litigation

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Lender liability claims generally arise in one of following contexts: (i) claims seeking recovery of damage or "leverage" to accept discounted payoffs; (ii) counterclaims to foreclosure/receivership/guarantor actions; or...more

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