News & Analysis as of

Foreclosure › Commercial Mortgages

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... more +
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 -
Goulston & Storrs PC

The Importance of Having All Your Docs in a Row On a Commercial Foreclosure Summary Judgment Motion

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Like many of you, we are seeing a significant increase in commercial real estate (“CRE”) loan workouts. The magnitude of the swell in distressed CRE loans remains unclear, although one thing is certain: appreciating the...more

Holland & Knight LLP

Need to Foreclose on a Mortgage? Where Can You Bring Your Action?

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In response to the COVID-19 pandemic, many states enacted, by executive order or otherwise, rules that have created both legal and procedural hurdles to a lender's ability to exercise its contractual rights, including the...more

Harris Beach PLLC

New York Extends the Moratorium on COVID-related Commercial Residential Evictions and Foreclosure Proceedings Until August 31,...

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On Tuesday May 4, 2021, Governor Cuomo signed an extension of the “COVID-19 Emergency Protect Our Small Businesses Act of 2021” (collectively, the “Act”) prohibiting residential and commercial evictions, foreclosure...more

Harris Beach PLLC

NY Moratorium on COVID-Related Commercial Evictions and Foreclosures Extended Through the End of 2020

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By Executive Order 202.70, New York Gov. Andrew Cuomo has further extended – through Jan. 1, 2021 – the moratorium prohibiting the initiation of a proceeding or enforcement of (i) an eviction of a commercial tenant for...more

Pillsbury Winthrop Shaw Pittman LLP

DC Council Acts to Extend COVID-19 Relief for Tenants and Others

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Legislation requires rent payment plans, mortgage relief, and foreclosure and eviction moratoriums. Residential and many commercial landlords may not increase rent and must make rent payment plans available to eligible...more

Pillsbury Winthrop Shaw Pittman LLP

Distressed Real Estate During the COVID-19 Pandemic: Deeds in Lieu of Foreclosure Involving Commercial Real Estate

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In a deed in lieu of foreclosure, a defaulting borrower agrees to convey the mortgaged property to the mortgage lender. But handing over the keys can raise a number of potential pitfalls. Below, we discuss some of these...more

Foley & Lardner LLP

New Florida Receivership Statute Gives Commercial Mortgage Lenders Potential Leverage

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Amidst the growing uncertainty caused by the COVID-19 pandemic, Florida’s newly enacted receivership law, the Uniform Commercial Real Estate Receiver Act (“UCRERA”), codified in Chapter 714 of the Florida Statutes, endeavors...more

Snell & Wilmer

Conflicts of Laws, Deficiency Actions, and Statutes of Limitations – Oh My!

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What law governs a deficiency action if the choice-of-law provisions in the note and deed of trust conflict? The Arizona Court of Appeals answered that very question in ZB, N.A. v. Hoeller, No. 1 CA-CV 16-0071 (Ct. App. April...more

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