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Foreclosure › Financial Instruments

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 -
Lowndes

Purchase Money Financing: Not Just for Homeowners

Lowndes on

In recent years, many property owners have refinanced their mortgages to take advantage of low interest rates. When interest rates rise, buyers may prefer to assume a seller’s existing loan since new loans have higher...more

Kramer Levin Naftalis & Frankel LLP

New York Court of Appeals Distinguishes Marblegate, Holds Majority-Directed Strict Foreclosure Violates Indenture and Minority...

Kramer Levin Naftalis & Frankel LLP on

On October 22, 2020, in a 4-3 opinion, the Court of Appeals for the State of New York held that the right of certain dissenting minority noteholders to sue for nonpayment following a default survived a strict foreclosure,...more

McGlinchey Stafford

Am I a party entitled to enforce a promissory note?

McGlinchey Stafford on

Shareholder Derivative Lawsuit Aungst v. Light, 9th Dist. Summit No. 29349, 2020-Ohio-3347 In this appeal, the Ninth Appellate District affirmed the trial court’s decision, finding that when a shareholder’s derivative...more

Burr & Forman

Florida’s Second DCA Clarifies on Standing if New Case is Commenced While the Clerk Possesses the Note

Burr & Forman on

On October 31, 2018, Florida’s Second District Court of Appeal recently distinguished two of its prior opinions and held that a foreclosure plaintiff does not lose its standing as a holder of a negotiable instrument if it...more

Burr & Forman

After-Acquired Title Doctrine Held Applicable to Subsequent Purchaser

Burr & Forman on

In BCML Holding LLC v. Wilmington Trust, N.A., the purchaser of a property at an association foreclosure sale for unpaid assessments contended that the first mortgage was void ab initio because title to the property wasn’t...more

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