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Mortgages Fair Market Value

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Whitman Legal Solutions, LLC

HUD Files Appraisal Discrimination Charge Against Rocket Mortgage

The Fair Housing Act Applies to Residential Real Estate Appraisals - The Fair Housing Act (FHA) was passed in 1968 to prohibit housing discrimination based on race, color, religion, and national origin. Since then, the...more

Freiberger Haber LLP

Second Department Dismisses Action for Specific Performance Because Contractual Conditions Were Not Satisfied

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Many times, remedies for the breach of a contract other than monetary damages are necessary to make a plaintiff whole...more

Fox Rothschild LLP

Don’t Forget, it’s the Economy Stupid! Aunt Fannie Mae Says the Housing Boom Seems Over

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It’s not actually Aunt Fannie but her Chief Economist Doug Duncan who has concluded today that the party ended in March as interest rates spiked 200 basis points since January 1. Fannie Mae revised new homes sales for March...more

Fox Rothschild LLP

Divorce Financing Encounters A Turbulent Real Estate Market

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At the end of the day, divorce is a financial transaction wrapped in complex human emotions. Part of the divorce lawyer’s mission is to try to gently unwrap the emotion so that each party can walk away from a failed...more

Bowditch & Dewey

Legal Considerations of Living Together in a Multi-Generational Home

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During COVID, many of us are balancing working remotely while caring for our children. This autumn, most of our children are returning to part-time or all remote school. We are using our residences as a home, office, and...more

Ballard Spahr LLP

NCUA Issues Interim Appraisal Rule Because of COVID-19

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On April 21, 2020, the National Credit Union Administration (NCUA) published an interim final rule that will allow for appraisals and written estimates of market value of homes and other real property to be obtained by...more

Burns & Levinson LLP

Holding Onto The House– The Buy or Sell Dilemma in Divorce

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Ah, home sweet home. Home is your happy place where you can rest and unwind. It is the place you selected to start your family and where you and your family make memories. There is justifiably so much sentimental value tied...more

Hinshaw & Culbertson LLP

Massachusetts Mortgage Holders Beware — Foreclosure Winning Bids May Now Need to Consider Development Potential of a Property

Under Massachusetts law, a foreclosing lender has a duty of good faith and reasonable diligence to obtain the highest possible price for a property at auction. Until recently, it was considered appropriate for the lender to...more

Nutter McClennen & Fish LLP

Legal Advisory: Enforcement Issues in Massachusetts Real Estate Loans

Two recent Massachusetts Appeals Court decisions offer both clarity and caution to mortgage lenders seeking to enforce their loan documents. These decisions address the importance of properly drafting prepayment provisions in...more

Butler Snow LLP

Sixth Circuit Offers Perspective on Federal Removal and Wrongful Foreclosure in Mortgage Litigation

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In Beasley v. Wells Fargo Bank, N.A., 2018 WL 3478882 (6th Cir. July 19, 2018), the United States Court of Appeals for the Sixth Circuit provided clarification on certain aspects of removing a case from state court to federal...more

Stoel Rives LLP

Debtor May Be Entitled to Credit for “Reasonable Value” of Property Purchased by Lender at Mortgage Foreclosure Sale

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In Idaho, it has long been understood that a secured creditor that has foreclosed a mortgage may be able to also get a judgment against the debtor for the remainder of the debt, if the proceeds of the foreclosure sale are not...more

Spilman Thomas & Battle, PLLC

Highmark Properties Revisited: Lender Credit Bids

The dust has yet to settle on the landmark decision of High Point Bank & Trust Co. v. Highmark Properties, LLC, 776 S.E.2d 838 (N.C. 2015). Before delving into the decision that should serve as a harbinger of imminent and...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Weeks Ending August 21 & 28 , 2015

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Foreclosure/Statute of Limitations: statute of limitations did not bar foreclosure action even though filed more than five years after breach and acceleration of note upon which previous foreclosure action that had been...more

Ballard Spahr LLP

New York Court of Appeals Provides Guidance on Deficiency Judgments

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The level of proof that a lender must submit to obtain a deficiency judgment following a mortgage foreclosure was recently clarified by the New York Court of Appeals. Under RPAPL § 1371, a lender may seek a deficiency...more

Snell & Wilmer

Can an HOA "Super-Priority" Lien Extinguish a Lender's Deed?

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It is hard to imagine that a lender’s first-position deed of trust on a residence worth hundreds of thousands of dollars could be extinguished by a homeowners’ association (HOA) lien for overdue neighborhood assessments,...more

Burr & Forman

Surprising Ruling By Georgia Court Of Appeals May Allow For Pursuit Of Guarantors Without First Confirming Foreclosure Sale In...

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As any lender who’s had a loan secured by real property collateral in Georgia knows, in order to pursue a deficiency balance following a non-judicial foreclosure of its collateral, the foreclosure sale has to be “confirmed”...more

Nossaman LLP

Stanislaus County Moving Forward with Claribel Road Project

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After two years of negotiating with residential property owners, the Stanislaus County Board of Supervisors approved acquisition of the property by eminent domain. The Modesto Bee reports that the board approved the...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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