News & Analysis as of September 21, 2024

Borrowers

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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 -

Help or Harm? New Legislation Aimed at Helping Tenants and Borrowers Impacted by COVID Causes Concern for Landlords and Lenders

Harris Beach PLLC on 3/12/2021

In his recent State of the State Address, New York Governor Andrew Cuomo indicated a desire to stay mortgage foreclosures, commercial evictions and foreclosures through May 1, 2021. On March 9, 2021, the Governor’s desires...more

Massachusetts Commits $171MM for Programs to Help Tenants and Landlords Impacted by COVID-19

Bowditch & Dewey on 11/17/2020

As we have previously reported, in March the Commonwealth instituted an eviction and foreclosure moratorium which, among other things, provided a financial backstop for landlords effected by their tenants’ inability to make...more

Executive Orders, Administrative Court Orders, and Legislation: The Ever-Changing NY Landscape on Foreclosures, Evictions, and...

Mintz - Real Estate, Construction &... on 8/19/2020

The landscape for foreclosures and evictions in New York State is constantly evolving. With the entire State of New York in Phase 4 of New York Forward, the courts have begun to reopen (at least virtually) and certain...more

Buchalter Client Alert COVID-19: Judicial Council Enacts COVID-19 Emergency Rules Preventing Unlawful Detainers and Staying...

Buchalter on 4/8/2020

On Monday, April 6, 2020, in an Emergency Meeting to address issues arising from the COVID-19 Crisis, the Judicial Council enacted emergency rules that protect tenants and borrowers by temporarily preventing California courts...more

Foreclosure Moratorium Policies in Response to the COVID-19 Pandemic

Lowenstein Sandler LLP on 4/3/2020

In the face of the COVID-19 pandemic and the resulting economic downturn, housing advocates and lawmakers have called for a nationwide moratorium on foreclosures. On March 18, U.S. Department of Housing and Urban Development...more

The Dos and Don’ts of REO: Prohibitions on Trade or Business and New Construction

Kilpatrick on 1/21/2020

Background: A REMIC that forecloses on real property might appear to have an advantage over other real estate owners when operating, leasing, and ultimately disposing of that property (referred to as “REO property” once...more

This REO Advisor identifies a servicer’s concerns when selling part but not all of an REO property and examines a tool a servicer...

Kilpatrick on 1/21/2020

Example 1. REO property is a portion (vacant retail box plus in-line shops) of a regional shopping center. Special servicer has been approached by a national retailer to purchase the vacant box leaving the REMIC with the...more

Cobras, Mortgages, and Violas: What are Your Contracts and Policies Incentivizing?

Whitman Legal Solutions, LLC on 4/30/2018

Recently, I heard a parent express concern that her child had been encouraged by the school music teacher to switch from violin to viola because the orchestra needed more violas. For switching to viola, the child would...more

REO Advisor: Pre- And Post-Foreclosure Servicer Strategies To Allow For Tenant Construction Activities On Collateral Properties,...

Kilpatrick on 7/26/2017

This edition of the REO Advisor explores the pre- and post-foreclosure servicer strategies to allow for tenant construction activities on collateral properties, as well as the subdivision and subsequent partial sales of large...more

Points & Authorities - Spring 2015

Buchalter on 5/28/2015

In this Issue: - Negotiating Strategies for the Successful Sale of Technology Companies - Broker Beware: Are Real Estate Brokers Susceptible to Agent v. Agent Fee Splitting Disputes After Sanowicz v. Bacal? -...more

Alabama Federal Court Ruling May Enable Borrowers with Tenants To Challenge Foreclosures

Ballard Spahr LLP on 1/20/2014

A recent decision from the U.S. District Court for the Northern District of Alabama may provide borrowers who rent portions of their property to tenants with an avenue for challenging a foreclosure. The court's analysis...more

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