News & Analysis as of September 23, 2024

Foreclosure › Bids

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

Ready, Set, Invest: A Due Diligence Checklist for Foreclosure Property

Woods Rogers on 4/4/2023

Foreclosure sales are an excellent resource for investors looking to purchase fixer-upper properties at low prices. However, there are many risks of buying properties sight unseen, and misconceptions about the foreclosure...more

Foreclosures: Beware Unexpected Violations

Troutman Pepper on 5/13/2015

Field v. Bank of America, N.A. (In re Gibbs), 522 B.R. 282 (Bankr. D. Hawaii 2014) – A bankruptcy trustee sued a mortgage lender to recover for defects in a prepetition non-judicial foreclosure sale. The lender brought a...more

And the Bidding Starts At . . .? The Impact of Two Recent Bankruptcy Decisions On Determining Foreclosure Sale Bids

Spilman Thomas & Battle, PLLC on 4/4/2014

In today’s economy, banks all too commonly find themselves foreclosing on real property collateral. As a result, banks are regularly in the position of having to determine the starting bid in foreclosure proceedings. This...more

Trustee Empowered To Void Foreclosure Sale Where Error Discovered Before Delivery Of Trustee’s Deed

Miller Starr Regalia on 5/22/2013

California’s Supreme Court affirmed a trustee’s right to void a non-judicial foreclosure sale based on mistakes in the foreclosure process discovered before delivery of a trustee’s deed to the successful bidder. ...more

Burr Alert: Is “Materially Less” The Same As “Grossly Inadequate”?

Burr & Forman on 12/27/2012

Tennessee was one of many states jumping on the debtor protection bandwagon following disclosures of lender misconduct in the wake of the 2007 real estate market collapse. The legislative solution crafted into Tenn. Code Ann....more

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