News & Analysis as of

Foreclosure › Guaranty Claims

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 -
Patton Sullivan Brodehl LLP

Guarantor Liability: Assignment of Note Doesn’t Automatically Assign Guaranty Too

Patton Sullivan Brodehl LLP on

Obligations reduced to a promissory note are often accompanied by a written guaranty. The law treats the guaranty as an independent obligation. A case recently decided by California’s First District Court of Appeal —...more

McGlinchey Stafford

Is My FDCPA Claim Timely? - McGlinchey Commercial Law Bulletin - March 14, 2023

McGlinchey Stafford on

Ohio- Statute of Limitations Under FDCPA- Bouye v. Bruce, 6th Cir. Nos. 21-6195/22-5016 (Mar. 1, 2023). In this appeal, the Sixth Circuit reversed in part the district court’s decision, finding that a claim brought...more

Morgan Lewis

When Is a Guaranty Claim Reduced by Recovery in a Debtor’s Bankruptcy Case?

Morgan Lewis on

Consider a lender that extends a term loan in the amount of $1 million to an entity debtor. The loan is guaranteed by the debtor’s owner. If both the debtor and the guarantor become subject to bankruptcy cases, it is settled...more

Kramer Levin Naftalis & Frankel LLP

We Can Work It Out: Overcoming Obstacles to Real Estate Workouts

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Real estate lenders and borrowers everywhere are trying to figure out what to do with properties that are either sitting vacant or underperforming pre-pandemic expectations. In New York, a number of mezzanine foreclosures...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending May 3, 2019

Carlton Fields on

Real Property Update - Restrictive Covenants: trial court erred by failing to provide injunctive relief in favor of homeowner as it related to trees planted in common area in violation of restrictive covenants - McIntosh...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 9, 2018

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Misrepresentation/Concealment: genuine issues of material fact remained in dispute regarding whether board-certified real estate attorney committed fraudulent or negligent misrepresentation or concealment by falsely assuring...more

Burr & Forman

Burr Alert: This Old Waiver? I’ve Had it for Years

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The Georgia Supreme Court has further eroded the viability of the Georgia confirmation statute with its recent decision in York v. RES-GA LJY, LLC. In York, the Supreme Court affirmed the lower court’s application of last...more

Ballard Spahr LLP

NJ Supreme Court Holds Intervening Mortgage Takes Priority After Discretionary Advances by Initial Mortgagee

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The New Jersey Supreme Court recently clarified its rules regarding mortgage priority, holding that a factoring company’s secured first mortgage can be trumped by a law firm’s later-filed mortgage where the factoring company...more

Ervin Cohen & Jessup LLP

Wanna Fight? Illinois District Court Refuses To Grant Summary Judgment To Lender On Bad Boy Provision In Guarantee Agreement

Ervin Cohen & Jessup LLP on

In the case of Wells Fargo Bank N.A. v. RLJ Lodging Trust, an Illinois district court denied a lender’s motion for summary judgment seeking to enforce a bad boy carve-out provision in a guaranty agreement providing for full...more

Snell & Wilmer

Nevada Supreme Court Determines That a Pre-Foreclosure Guaranty Complaint Is Not a Deficiency “Application”

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In what the dissenting Justices insinuate is an elevation of form over substance, the Nevada Supreme Court denied a rehearing in Lavi v. Eighth Judicial District Court, 130 Nev. Adv. Op. 38, 2014 WL 2428749 (May 29, 2014),...more

Snell & Wilmer

Unmitigated Waivers: Guarantors Remain Liable Despite 4-Year Delay in Foreclosure Sale

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If a lender delays foreclosure allowing years of default interest to accrue such that a guarantor’s obligation increases from $6 million to $12 million, should the guarantor remain on the hook for the full $12 million? In...more

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