As discussed in Part 1 of this series, the vast majority of California commercial mortgage loan foreclosures are conducted non-judicially. Accordingly, this Legal Update will not address judicial foreclosures. ...more
The Massachusetts Supreme Judicial Court (“SJC”) heard argument on February 13, 2020, on whether compliance with a state-mandated default notice could, nevertheless, void foreclosure sales in Massachusetts. ...more
On August 30, 2017, an amendment to North Carolina’s foreclosure statutes took immediate effect. The amended statute, Section 45-10, concerns substitute trustees under a deed of trust. As amended, Section 45-10 now prohibits...more
In a move greatly benefiting lienholders and loan servicers, Texas Governor Greg Abbott recently signed H.B. 2067, amending the Texas Civil Practice and Remedies Code to allow for the unilateral rescission of the acceleration...more
Ya’ll. (I’m in the South so it’s ok to say “ya’ll” even in a legal update). It shouldn’t be that hard to get a deficiency judgment in North Carolina. To start with, unlike some other states, North Carolina does not have a...more
On June 17, 2015, Governor Greg Abbott signed House Bill 2067, which amends the Texas Civil Practice and Remedies Code to provide a clear mechanism for lenders to unilaterally rescind acceleration of a defaulted loan. ...more
In the wake of the California foreclosure crisis, one of several arguments relied on by borrowers facing foreclosure (and their attorneys) in “wrongful foreclosure” suits has been that some aspect of the statutory foreclosure...more
In Ram, et al. v. OneWest Bank, FSB, et al. (filed 2/6/15, No. A139055), the California Court of Appeal held that a nonjudicial foreclosure sale is not void merely because the notice of default was recorded by an entity who...more
Financial services companies pursuing judicial foreclosures in Florida already face a host of unique and challenging hurdles. The varying and often-times court- or judge-specific procedural, substantive, and evidentiary...more