News & Analysis as of

Foreclosure › State and Local Government

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 -
Steptoe & Johnson PLLC

Standard Versus Enhanced Exemptions Understanding the City of Pittsburgh's Proposed LERTA Exemption Ordinance

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The City of Pittsburgh, in an attempt to stem the tide of collapsing real estate tax revenues from downtown Pittsburgh commercial properties, is on the verge of passing an ordinance creating a tax exemption authorized by...more

McGlinchey Stafford

Is My Arbitration Agreement Enforceable? - McGlinchey’s Commercial Law Bulletin - November 18 2022

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Ohio- Public Records Law- The State Ex Rel. Ames, Appellant, v. Baker, Dublikar, Beck, Wiley & Mathews et al., Slip Op. 2022-Ohio-3990. In this mandamus action to the Ohio Supreme Court, the Court found that Ohio’s...more

Miller Canfield

Foreclosure Does Not Extinguish Assignment of Rents

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Previously, we alerted you that Michigan had passed its version of the Uniform Assignment of Rents Act (MUARA). Among other things, this law clarifies that an assignment of rents is not extinguished by a foreclosure sale...more

Troutman Pepper

NY State Senate Passes Foreclosure Abuse Prevention Act

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On May 3, the New York State Senate passed S5473D (Bill), which will apply immediately in all actions “in which a final judgment of foreclosure and sale has not been enforced.” (See S5473D at Section 10.) This means that the...more

Perkins Coie

Copper Creek Confirms That Bankruptcy Discharges Have No Effect on the Statute of Limitations in Washington State

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As we previously noted, the statute of limitations on actions to enforce a note or deed of trust can be a brutally effective sword for borrowers in Washington State. Under the six-year limitations period of RCW 7.28.300, a...more

Locke Lord LLP

New York State Senate Extends ‎Foreclosure and Eviction Moratorium from August 31, ‎‎2021 ‎until January 15, 2022‎

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In one of her first acts as Governor of New York, newly appointed Governor Kathy Hochul ‎called for a “Special” legislative session on September 1, 2021, to extend the moratorium on ‎foreclosure and eviction actions provided...more

Perkins Coie

CDC Issues New Federal Eviction Moratorium

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Citing a surge of COVID-19 cases in July 2021, the Centers for Disease Control and Prevention (CDC) issued a new federal eviction moratorium on August 3, 2021 (Order). The Order is similar to the CDC’s previous eviction...more

Cadwalader, Wickersham & Taft LLP

Summer's Coming, May 2021 | Issue No. 24 - COVID-19 Update: Governor Cuomo Extends Eviction and Foreclosure Moratorium until...

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On May 5, 2021, New York Governor Andrew Cuomo signed a bill that extends the moratorium on evictions and foreclosures for residential tenants and small businesses to August 31, 2021. The previous moratorium expired May 1,...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need To Know - May 2021

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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

Bradley Arant Boult Cummings LLP

April Update: COVID-19 Mortgage Servicing Trends Report

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Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables. The polling covers hot topics, including forbearances, deferrals, HUD loss mitigation...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Governor Cuomo Extends Eviction and Foreclosure Moratorium until August 31

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On May 5, 2021, New York Governor Andrew Cuomo signed a bill that extends the moratorium on evictions and foreclosures for residential tenants and small businesses to August 31, 2021. The previous moratorium expired May 1,...more

Morrison & Foerster LLP

New York Extends Moratorium On Residential And Small Business Evictions And Foreclosures

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On May 4, 2021, New York Governor Andrew Cuomo signed into law a bill passed by the New York State legislature extending to August 31, 2021 the existing eviction moratorium for residential tenants and independently owned...more

Locke Lord LLP

New York State Senate Extends Foreclosure and Eviction Moratorium From May 1, 2021 ‎Until August 31, 2021

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On May 3, 2021, the New York State Senate voted to extend the moratorium on foreclosure and eviction actions provided in the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (S.9114/A.11181)(the “Eviction...more

Lowenstein Sandler LLP

Residential Evictions: What Tenants Need To Know (Spanish)- April 2021

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CIERRES PATRONALES- ¿Puedo ser excluido de mi casa durante la emergencia COVID-19? No. Dos órdenes gubernamentales diferentes impiden los cierres patronales en este momento. La Orden del Estado El 19 de marzo de...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need To Know - UPDATED March 2021

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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

Morrison & Foerster LLP

New York State Passes Legislation To Extend Eviction And Foreclosure Relief For Small Business Commercial Properties

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On March 9, 2021, New York Governor Andrew Cuomo signed into law the New York State COVID-19 Emergency Protect Our Small Businesses Act of 2021 (S471A/A3207) (the “Act”). After a full year of commercial tenants and commercial...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Governor Cuomo Extends Eviction Protections for Small Businesses That Demonstrate a Financial Hardship

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In December, New York Governor Andrew Cuomo signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020, which provided a moratorium on residential eviction and foreclosure proceedings until May 1, 2021....more

Farrell Fritz, P.C.

Governor Cuomo Signs the COVID-19 Emergency Protect Our Small Businesses Act of 2021 Establishing Eviction and Foreclosure...

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Governor Andrew M. Cuomo this week signed the COVID-19 Emergency Protect Our Small Business Act of 2021 (S471A/A3207) (the “Act”), which will impact commercial landlords, tenants, mortgagors, and mortgagees.  ...more

Sheppard Mullin Richter & Hampton LLP

California Legislature Extends Residential Eviction Moratorium and Implements Rental Assistance Program for Landlords and Tenants

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Effective February 1, 2021, the California Legislature and Governor Gavin Newsom approved Senate Bill (“SB”) 91 – Eviction Protection and Relief Act in further response to the ongoing COVID-19 pandemic. In essence, SB 91...more

Spilman Thomas & Battle, PLLC

Mitigating the Risk of Loss of a Delinquent Collateral Asset in the Era of Autonomous Zones

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Following the death of George Floyd during his arrest in Minneapolis, Minnesota, America experienced months of civil unrest throughout the country. It was during these protests that some began to assert that civil society in...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need To Know - UPDATED January 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

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Governor Cuomo Extends Residential Eviction and Foreclosure Moratorium

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Since declaring a State of Emergency on March 7, 2020 in response to the COVID-19 pandemic, New York Governor Andrew Cuomo has issued a number of Executive Orders providing protections for both commercial and residential...more

Morrison & Foerster LLP

New York Governor Cuomo Signs COVID-19-Related Residential Evictions And Foreclosures Moratorium Bill Into Law

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On December 28, 2020, New York Governor Andrew Cuomo signed into law the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (the “Act”) passed by the New York State Legislature. The Act (S.9114/A.11181) is...more

Harris Beach PLLC

New York State Adopts COVID-19 Emergency Eviction and Foreclosure Prevention Act

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The New York State Legislature has adopted legislation (S.9114 / A.11181) which extends the moratorium on residential evictions to more than one year from the initial Executive Order 202.8 in March of 2020, through May 1,...more

Bradley Arant Boult Cummings LLP

Covid-19 Mortgage Servicing Trends Report - Update

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Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables. This report is intended to show industry trends, not facts, and does not necessarily...more

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