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Debt Mortgages Default

Blank Rome LLP

NY Appellate Court Holds Default Letter Stating Debt “Will Be Accelerated” Does Not Accelerate the Debt, De-Acceleration Must Be...

Blank Rome LLP on

Mortgagees and their servicers should take note that a New York appellate court has confirmed that a default letter, stating the mortgage debt “will be accelerated” if the default is not cured, does not clearly and...more

Blank Rome LLP

Does the Word 'Will' Clearly Accelerate a NY Mortgage Debt?

Blank Rome LLP on

Mortgage servicers and other financial institutions have been battling the issue of what affirmative act “clearly and unequivocally” accelerates a mortgage debt for years. Currently, there is a split in authority between the...more

Baker Donelson

Avoiding a Limitations Fight by Rescinding Acceleration

Baker Donelson on

Texas recently added a new statute aimed at providing lienholders and loan servicers an unambiguous method for unilaterally abandoning the acceleration of a loan's maturity. When a borrower defaults in paying an...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

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - July 29,2013

FHFA Statement on Freddie Mac Risk-Sharing Transaction - On July 24, the FHFA announced that Freddie Mac is nearing completion of its first risk-sharing transaction, a direct debt issuance, that will assist Freddie Mac...more

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