News & Analysis as of

Foreclosure › Residential Property Owners

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 -
Whitman Legal Solutions, LLC

Protect Yourself from Mortgage Refinance Fraud

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This article discusses a common type of mortgage foreclosure fraud and how borrowers can protect themselves against scams. The facts in this article, as well as the location and names of companies and individuals, are...more

McGlinchey Stafford

Is The TCPA Constitutional? - The Bullet Point: A Commercial Law Bulletin

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The Bullet Point is a biweekly update of recent, unique, and impactful cases in state and federal courts in the area of commercial litigation. We’re pleased to expand the Bullet Point from its previous coverage of Ohio case...more

Goodwin

CFPB Issues Report on Housing Insecurity and COVID-19

Goodwin on

On March 1, 2021, the Consumer Financial Protection Bureau (CFPB) issued a report titled “Housing Insecurity and the COVID-19 Pandemic” (the Report), which summarizes some of the relevant data and research on the impact of...more

BCLP

NY Court of Appeals on the Foreclosure Statute of Limitations

BCLP on

The New York Court of Appeals’ decision last week, Freedom Mortgage Corp v. Engel, contains two “reliable and objective rules permitting consistent application of the statute of limitations.” What are those rules?  ...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know- UPDATED January 2020 #2

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DESALOJOS RESIDENCIALES: LO QUE LOS PROPIETARIOS DE VIVIENDAS NECESITAN SABER- A partir del 22 de enero de 2021- REMOCIONES- ¿Me pueden remover de mi casa como resultado de un procedimiento de ejecución...more

Rosenberg Martin Greenberg LLP

Maryland Court of Special Appeals Confirms That Foreclosure Actions Are Not Subject to Statute of Limitations

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During the COVID-19 pandemic, a patchwork quilt of statutes, regulations, executive orders, and court orders have imposed on again, off again, restrictions on the filing and prosecution of foreclosure cases. Few of these...more

American Conference Institute (ACI)

[Virtual Event] 27th NATIONAL FORUM ON Residential Mortgage Regulatory Enforcement & Litigation - November 17th - 18th, 9:00 am -...

American Conference Institute (ACI) on

ACI’s Residential Mortgage Forum is a premier gathering of leading servicers, lenders, external counsel, and regulators engaging in dialogue on how to navigate the very complex residential mortgage enforcement and litigation...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need To Know - UPDATED November 2020

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REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which suspended...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need To Know (Spanish) - UPDATED November 2020

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REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106 , suspending evictions...more

McGlinchey Stafford

State COVID-related Foreclosure and Eviction Moratorium Updates

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Alert October 23, 2020 Due to the economic impacts of COVID-19, many states have issued moratoriums on foreclosures and evictions. Some of those moratoriums have expired. However, even if a lender is now able to obtain a...more

Bowditch & Dewey

Massachusetts Eviction and Foreclosure Moratorium Expires and is Replaced by a More Limited CDC Order

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On October 17, 2020, the Baker-Polito administration allowed the Massachusetts moratorium on residential foreclosures and residential and small business evictions to expire. Accordingly, commercial landlords may proceed with...more

Tonkon Torp LLP

Oregon Foreclosure Moratorium Extended Until December 31, 2020

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On August 31, Oregon Governor Kate Brown issued Executive Order 20-37, extending prohibitions on residential and commercial foreclosures in Oregon through December 31, 2020. This Order was issued under the Governor’s...more

Rosenberg Martin Greenberg LLP

Pennsylvania Supreme Court Clarifies Applicability of Act 6 To Residential Mortgage Foreclosures (Sort Of)

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When the loan documents provide for confession of judgment and the collateral encumbered by the mortgage securing the loan is commercial real property, the foreclosure process in Pennsylvania is straightforward.  The lender...more

Hinshaw & Culbertson - Consumer Crossroads

New York Courts Lift Suspension of Foreclosure Proceedings, Add Additional Conference Requirement

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On July 24, 2020, the New York State Courts issued Administrative Order 157/20 (AO/157/20). Effective July 27, 2020, AO/157/20 removes the formal suspension of all residential foreclosures, but keeps a limited suspension of...more

Patton Sullivan Brodehl LLP

Ninth Circuit Weighs in on “Preemptive” Challenges to Lender’s Authority to Foreclose

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Can a California real property owner challenge a lender’s authority to foreclose before a foreclosure sale has occurred?  It’s looking less likely with each new appellate opinion....more

White and Williams LLP

Debt Forbearance/Settlement Agreements: One of the Most Important and Often Overlooked Clauses

White and Williams LLP on

The economic impact of the global COVID-19 pandemic will likely result in a considerable number of borrower defaults, workouts and debt restructurings. An often overlooked but significant consequence of debt modifications or...more

Hinshaw & Culbertson - Consumer Crossroads

Governor Cuomo Extends New York Mortgage Foreclosure Moratorium, But With Exceptions…

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On May 7, 2020, New York Governor Andrew Cuomo issued Executive Order 202.28, which provides further temporary relief measures for tenants facing an eviction. The order also directly impacts mortgage loan holders, servicers,...more

Rosenberg Martin Greenberg LLP

CARES Act Provisions Affecting Bankruptcy And Residential Mortgage Loans

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The Coronavirus Aid, Relief and Economic Security Act (“CARES”) enacted on March 27, 2020 contains a number of provisions affecting bankruptcy cases, modification and enforcement of federally backed residential mortgage...more

Ballard Spahr LLP

New Jersey Suspends Evictions

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By Executive Order 106, New Jersey Governor Murphy suspended the removal of a tenant, homeowner, or any other person from a residential property as the result of an eviction or foreclosure proceeding....more

American Conference Institute (ACI)

[Event] Residential Mortgage Regulatory Enforcement & Litigation - October 29th-30th, Dallas, TX

American Conference Institute (ACI) on

Attend the only forum designed to help you navigate the Residential Mortgage Industry’s evolving landscape. Now in its 26th installment, ACI’s Residential Mortgage forum has become a premier gathering of the key industry...more

Burr & Forman

Bankruptcy Court Order Compelling Surrender of Property Upheld on Appeal

Burr & Forman on

On November 23, 2015, in the first appellate decision of its kind, the District Court for the Southern District of Florida affirmed a bankruptcy court order to compel chapter 7 debtors to surrender real property by directing...more

Burr & Forman

Chorus of Critics Grows Again for Third DCA’s Beauvais Opinion on Statute of Limitations, Rehearing Granted by Third DCA

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The opinion of Florida’s Third District Court of Appeal in Deutsche Bank Trust Co. Americas v. Beauvais, No. 3D14-575, 2014 WL 7156961 (Fla. 3d DCA Dec. 17, 2014) has been a lightning rod for criticism from federal courts in...more

Ballard Spahr LLP

Courts, States Continue to Wrestle with Homeowners Association Assessment Liens

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The circumstances under which a condominium or homeowners association (HOA) lien for unpaid assessments may wipe out a lender’s mortgage lien continues to evolve across the country. As noted in our previous alerts regarding...more

Carlton Fields

Florida’s Second District Court of Appeal Confirms Substantial Compliance is the Standard for Evaluating Conditions Precedent to...

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Earlier this week, the Second District Court of Appeal issued a long-awaited opinion in Green Tree Servicing v. Milam, Case No. 2D14-660 (Fla. 2nd DCA July 29, 2015). Until this decision, the district courts in Florida had...more

Burr & Forman

Recent Developments Concerning the Right of Redemption Relating to Homestead Property: Act of Apr. 23, 2015, Alabama Senate Bill...

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Under current Alabama law, an interested party (e.g., mortgagor, junior mortgagor, judgment creditor) may redeem real property sold at foreclosure within one (1) year of the date of the foreclosure sale. See ALA.CODE...more

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