News & Analysis as of September 24, 2024

Foreclosure › Local Ordinance

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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 -

Little-Known Chicago Rental Ordinance Amendment Impacts Unsuspecting Foreclosing Lenders

Holland & Knight LLP on 7/24/2024

A foreclosing lender must offer existing Chicago tenants a new 12-month lease or pay them a substantial $10,600 relocation fee – and the tenant can decide which one to choose. This 2021 amendment to the Keep Chicago Renting...more

California Judicial Council Votes to Rescind Prohibitions on Eviction and Foreclosure Proceedings

Snell & Wilmer on 8/21/2020

The California Judicial Council’s emergency rules staying evictions and judicial foreclosures are coming to an end. On March 27, 2020, the Governor of California issued executive order N-38-20, giving the Judicial Council...more

Judicial Council Ends Statewide Eviction and Foreclosure Moratorium; Local Orders Remain in Effect

Farella Braun + Martel LLP on 8/20/2020

On August 13, 2020, the Judicial Council of California (a body representing the California State Courts) voted to allow two previously enacted emergency rules, one halting evictions and the other halting foreclosures, to...more

The Land and Everything that Goes with it: How Community Association Restrictions "Run with the Land"

Ward and Smith, P.A. on 11/1/2018

It may be hard to believe, but community associations ("Associations") occasionally deal with homeowners who don't think they are required to pay assessments. The reasoning for these beliefs can range from "I don't use the...more

West Coast Real Estate Update: October 2016 #1

Holland & Knight LLP on 10/10/2016

California Coastal Act Blocks Housing Project in Venice Despite Earlier Approvals - Judge James C. Chalfant of the California Court of Appeal on Sept. 29, 2016, affirmed a lower court ruling denying a developer’s petition...more

City of Chicago to Tax Assignments of Mortgages

Miller Canfield on 10/28/2015

Recently the City of Chicago’s Department of Finance issued Real Property Transfer Tax Ruling #4, which clarifies the intent of the City’s Real Property Transfer Tax. The ruling details the application of the exemptions to...more

Court Decisions Extend Chicago’s Transfer Tax Ordinance to Cover Mortgage Assignment

Seyfarth Shaw LLP on 8/20/2015

Earlier this month, in a case of first impression, the Circuit Court of Cook County, Illinois in the consolidated cases of City of Chicago v. KTCP 225, LLC, Case No. 13 L 050290, and City of Chicago v. Horizon Group XXI, LLC,...more

Mortgage Foreclosure Ordinances Preempted by Existing State Law

Partridge Snow & Hahn LLP on 2/6/2015

The Massachusetts Supreme Judicial Court (the “SJC”) recently decided that two mortgage foreclosure ordinances adopted by the City of Springfield were preempted by existing state law. In Easthampton Savings Bank v. City of...more

A Municipal Ordinance Requiring Registration and Maintenance of Vacant or Foreclosed Properties Preempted under Chapter 21E

Beveridge & Diamond PC on 1/26/2015

A municipal ordinance imposing registration and maintenance obligations upon owners and secured lenders of buildings that are vacant or undergoing foreclosure was preempted by the Massachusetts remediation and clean-up...more

Massachusetts Supreme Judicial Court Rejects Municipal Foreclosure Ordinances

K&L Gates LLP on 1/15/2015

Can a Massachusetts municipality impose ordinances on banks that are more onerous than existing statewide law? In a recent landmark decision, the Massachusetts Supreme Judicial Court (“SJC”) answered “no.” In Easthampton...more

St. Louis County Ordinance Requiring Pre-Foreclosure Mediation Unconstitutional, Missouri Supreme Court Holds

Ballard Spahr LLP on 11/25/2014

The Missouri Supreme Court recently ruled that a St. Louis County ordinance requiring lenders to mediate with borrowers prior to foreclosure was void ab initio because it was not directed to a matter of purely municipal...more

Appellate Court Notes

Pullman & Comley, LLC on 11/20/2014

SC19118 - E & M Custom Homes, LLC v. Negron - New home warranty claim was successfully asserted as a counterclaim to a mechanic lien foreclosure. You will have to read the Appellate Court decision to find out what...more

Playing Zone(-ing) Defense

Baker Donelson on 4/4/2014

ZONE(-ING) DEFENSE --- With March Madness in full swing, now is a great time to review how local zoning ordinances can turn a mortgage servicer’s foreclosure layup into a blocked shot. Many U.S. states rely on a judicial...more

First Circuit: Does a Local Government Have Authority To Regulate Foreclosures?

Best Best & Krieger LLP on 11/27/2013

Many cities have struggled with the effects of foreclosures. But given the complex mix of state laws that often governs the issue, how much authority do local governments have in this area? A First Circuit case,...more

Chicago Continues to Aggressively Regulate Foreclosed Properties with New Requirements on Tenant Leases

Holland & Knight LLP on 6/28/2013

In early June, the City of Chicago passed the "Keep Chicago Renting" ordinance (SO2012-5127), which requires that the owner of foreclosed properties offer existing tenants renewal of their lease or pay expenses to the tenant...more

Chicago Ordinance Creates New Obligations for Owners of Foreclosed Rental Property

Ballard Spahr LLP on 6/19/2013

A new Chicago ordinance requires mortgagees who acquire residential rental property through a foreclosure or deed in lieu of foreclosure to either provide an option to renew the lease or offer relocation assistance to a...more

Florida to Government: Your Lien Doesn't Foreclose This Old Mortgage

Baker Donelson on 5/22/2013

The Florida Supreme Court has ruled that cities cannot create ordinances that subject prior recorded mortgages to their subsequently recorded county or governmental liens, because it conflicts with Florida's state statutes on...more

California Foreclosure Update: New registration requirements for foreclosed properties may lead to penalties, fines for lenders

Snell & Wilmer on 11/27/2012

Originally published in Western Real Estate Business, October 2012. The economic downturn has resulted in a record number of foreclosures in California. Many property owners have simply abandoned these foreclosed...more

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Foreclosure › Local Ordinance

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