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Waivers Foreclosure

McGlinchey Stafford

Is My FDCPA Claim Timely? - McGlinchey Commercial Law Bulletin - March 14, 2023

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Ohio- Statute of Limitations Under FDCPA- Bouye v. Bruce, 6th Cir. Nos. 21-6195/22-5016 (Mar. 1, 2023). In this appeal, the Sixth Circuit reversed in part the district court’s decision, finding that a claim brought...more

McGlinchey Stafford

Did I waive the terms of my contract? - McGlinchey Commercial Law Bulletin - July 8, 2022

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Fair Debt Collection Practices Act- In this appeal, the Court of Appeals for the Sixth Circuit reversed and remanded the District Court for the Northern District of Ohio’s decision, finding the debt collector violated the...more

Cadwalader, Wickersham & Taft LLP

Something Special, April 2021 | Issue No. 23 - Don’t Be Cruel: Appellate Division Upholds Waiver of Fiduciary Duties But Denies...

Can contracting parties waive all common law fiduciary duties? That was one of the questions presented to the New York Supreme Court, Appellate Division, First Department (the “Court”) in 111 West 57th Investment LLC, on...more

Patton Sullivan Brodehl LLP

Can a Loan Modification Waive the Borrower’s Right of Reinstatement?

Loans secured by a deed of trust typically provide that upon default (commonly, missed interest payments) the lender may elect to “accelerate” the loan, making the entire balance of principal and interest due....more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 7, 2020

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Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more

Burr & Forman

Burr Alert: This Old Waiver? I’ve Had it for Years

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The Georgia Supreme Court has further eroded the viability of the Georgia confirmation statute with its recent decision in York v. RES-GA LJY, LLC. In York, the Supreme Court affirmed the lower court’s application of last...more

BCLP

Georgia Supreme Court Weighs in On Guarantor Liability for Deficiencies

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On April 17, 2017, the Supreme Court of Georgia made yet another critical decision in a line of cases which together, create the framework for a guarantor’s liability for a deficiency after a foreclosure has been conducted....more

Snell & Wilmer

What is the Effect of an Untimely Challenge to the Timeliness of a Trustee’s Sale?

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Ever wonder what happens if a person challenges the timeliness of a trustee’s sale after the sale already occurred? Waiver of the argument of course! And, in the case of Wells Fargo Bank, N.A. v. Waltner, the affirmance of...more

Holland & Knight LLP

West Coast Real Estate Update: February 2017 #2

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Jury Trial Waiver Undone by a Fundamental California Policy - It is common for commercial contracts to contain a choice of law provision. Some commercial contracts may even contain a clause that waives the right to seek...more

Burr & Forman

Burr Alert: Dead Letter Office: The Final Repose of the Georgia Confirmation Statute?

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In what might be viewed as the last nail in the coffin for Georgia’s confirmation statute, the Georgia Supreme Court’s recent opinion in PNC Bank, National Association v. Smith affirms that a lender may contract around the...more

Eversheds Sutherland (US) LLP

Georgia Supreme Court Answers “Yes”—A Guarantor May Waive Foreclosure Confirmation

In a decision issued on February 22, 2016, the Supreme Court of Georgia ruled that a guarantor can waive by contract the requirement for a lender to obtain confirmation of a foreclosure sale before pursuing the guarantor for...more

Bryan Cave Leighton Paisner

Can a Guarantor Waive his Right to a Foreclosure Confirmation Proceeding in Georgia?

Yes. On Monday, February 22, 2015, in a case closely watched by commercial real estate lenders, borrowers and guarantors, the Supreme Court of Georgia issued its opinion in PNC Bank, N.A. v. Smith, et al., S15Q1445. ...more

Carlton Fields

The More the Merrier: Court Rejects Waiver Argument, Enforces Arbitration Clause in Consumer Contract

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A federal district court in Oklahoma recently rejected a defaulting borrower’s attempt to argue that her lender’s pursuit of foreclosure litigation waived the lender’s right to insist on arbitration of the borrower’s...more

Womble Bond Dickinson

High Point Bank v. Highmark and Guarantor Liability in North Carolina

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When a borrower’s default results in a foreclosure sale and purchase of the secured property by the mortgagee lender, can a guarantor’s deficiency liability be reduced by the difference between the property’s fair market...more

Snell & Wilmer

Update – Prospective Waivers of “Fair Market Value” Hearings are Definitely Void.

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In 2013, we blogged about the Arizona Court of Appeals’ determination that prospective contractual waivers of “fair market value” hearings are unenforceable as a matter of public policy. The link to our prior blog post is...more

Snell & Wilmer

Nevada Supreme Court Determines That Guarantor Cannot Waive Right to Receive a Notice of Default, but Substantial Compliance With...

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Schleining v. Cap One, Inc., 130 Nev. Adv. Op. 36 (May 29, 2014), arises out of a loan to purchase an undeveloped piece of property, which was guaranteed by the principal of the borrower. After the borrower defaulted, the...more

Snell & Wilmer

Unmitigated Waivers: Guarantors Remain Liable Despite 4-Year Delay in Foreclosure Sale

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If a lender delays foreclosure allowing years of default interest to accrue such that a guarantor’s obligation increases from $6 million to $12 million, should the guarantor remain on the hook for the full $12 million? In...more

Winstead PC

Court Upheld A Waiver Of Property Code Rights And Affirmed A Deficiency Judgment Based On The Foreclosure Price

Winstead PC on

In New Millennium Homes, Inc. v. Texas Community Bank, NA, a debtor appealed a summary judgment granted to a lender based on a deficiency claim. No. 09-12-00073-CV, 2013 Tex. App. LEXIS 1598 (Tex. App.—Beaumont February 21,...more

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