News & Analysis as of

Consumer Bankruptcy › Real Estate Market

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
Proskauer Rose LLP

Proskauer: ‘We’re going to see a big uptick in distressed opportunities’

Proskauer Rose LLP on

The private real estate industry has been anticipating distress since the start of the pandemic. But as governments passed emergency measures to keep the economy afloat, the prospect of widespread distress receded. ...more

Bradley Arant Boult Cummings LLP

Do Servicers Have to Monitor Whether a Successor in Interest is in Bankruptcy? CFPB’s FAQ Suggests the Answer is “Yes”

Bradley Arant Boult Cummings LLP on

As the effective date for the CFPB’s successor in interest and bankruptcy billing statement requirements quickly approaches, one question we’ve heard multiple times is whether a mortgage servicer is required to know when a...more

Mayer Brown

Bankruptcy Court Imposes Massively Disproportionate $45 Million Punitive Exaction, Then Plays Santa Claus With $40 Million Of It

Mayer Brown on

A bankruptcy judge in the Eastern District of California recently issued a decision that is sure to raise appellate eyebrows. Concluding in In re Sundquist that the defendant bank had violated the automatic stay by...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending October 7, 2016

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Foreclosure: debtor that agreed to “surrender” property in bankruptcy was required to surrender the property to the bankruptcy trustee and secured creditor, and lost right to defend secured creditor’s foreclosure action...more

Carlton Fields

Surrendering Your Property in Bankruptcy Means You Must Actually Surrender It

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The title of this article seems self-evident. Lenders, servicers, and others active in the foreclosure arena these past few years know that it has been anything but. Borrowers surrender property in bankruptcy but,...more

Bradley Arant Boult Cummings LLP

CFPB Caps a Busy Week with Amendments to Mortgage Servicing Rules

Bradley Arant Boult Cummings LLP on

Yesterday, the Consumer Financial Protection Bureau (CFPB) released the long-awaited amendments to the existing mortgage servicing rules in Regulations X and Z. For the next 12-18 months, Mortgage servicers will once again be...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending July 29, 2016

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REAL PROPERTY UPDATE - Foreclosure/Automatic Stay: because final judgment entered day after defendant’s petition for bankruptcy, automatic stay imposed by 11 U.S.C. § 362 was in effect and, thus, judgment was void, even...more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending May 29 & June 3, 2016

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REAL PROPERTY UPDATE - Foreclosure/Bankruptcy Stay: because borrower’s notice of appeal was filed during pendency of bankruptcy stay it was a nullity, and appellate court lacked jurisdiction to consider appeal –Hewett v....more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending May 13 & May 20, 2016

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REAL PROPERTY UPDATE - Contracts/Personal Liability: official title of “President” underneath signor’s signature on contract did not shield individual from personal liability because contract language reflected...more

Troutman Pepper

Settlement Proceeds: When Does Cash Become Quasi Real Estate?

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Farmer v. Citizens Nat’l Bank of Athens (In re Davis), 528 B.R. 757 (Bankr. E.D. Tenn. 2015) – A chapter 7 trustee sought a court determination that the trustee had a superior claim to settlement proceeds arising from...more

Troutman Pepper

Recording Errors: A Typo Is Not Always Fatal

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Deirdra Renee Gause v. Citifinancial Services, Inc. (In re Deirdra Renee Gause), 525 B.R. 35 (Bankr. M.D. N.C. 2014) – A chapter 13 debtor sought a court determination that a mortgage loan was unsecured because there was...more

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