News & Analysis as of October 31, 2024

Mortgages › Lienholders

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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 +

Virginia amends its foreclosure procedures and requires an affidavit

Orrick, Herrington & Sutcliffe LLP on 5/8/2024

Recently, the Governor of Virginia signed HB 184 (the “Act”) which amended the foreclosure procedures and subordinate procedures. Specifically, the Act added a requirement that if the proposed sale was initiated due to a...more

Can I recover excess proceeds from a foreclosure sale? - McGlinchey Commercial Law Bulletin - August 2022

McGlinchey Stafford on 8/22/2022

Claim to excess funds in foreclosure- In this appeal, the Eighth Appellate District considered who is entitled to excess sale proceeds; another mortgagee (who never appeared or answered in the case) or the borrower? Here,...more

Even “Nominal” Defendants Must Participate in Lawsuits

Kohrman Jackson & Krantz LLP on 8/5/2022

A recent Sixth Circuit Court of Appeals case highlights the importance of defendants actively participating in lawsuits even when named as a seemingly nominal defendant....more

When do the AAA Rules Govern Arbitrability? - Commercial Law Bulletin April 25 2022

McGlinchey Stafford on 4/25/2022

Ohio- Excess Sale Proceeds Royal Oaks Landmark, LLC v. Royal Oak Cal, LLC, 12th Dist. Clermont No. CA2021-06-025, 2022-Ohio-1144- In this appeal, the Twelfth Appellate District affirmed the trial court’s decision,...more

Mortgagee-Protection Clauses Are Not Dead in Nevada Nonresidential Property Owners’ Associations

Snell & Wilmer on 2/20/2020

For the last several years, there has been a tremendous amount of litigation in Nevada arising from residential foreclosure sales conducted by homeowners’ associations (HOA). The main issue in those cases has been whether the...more

Ohio's new requirements for junior lienholders and mortgage servicers

Bricker Graydon LLP on 10/8/2019

It has been a little over six months since Ohio Revised Code § 1349.72 went into effect—a law that requires holders of junior liens on residential real property to first send a written notice containing specific information...more

Connecticut Places Additional Requirements on Judgement Lienholders

Troutman Pepper on 6/11/2018

Connecticut Governor Dannel Malloy recently signed a new bill into law that helps Connecticut consumers understand how much they would need to pay in order to satisfy a judgement lien....more

Is your Motor Vehicle Loan Safe? Part 2: North Carolina

Maynard Nexsen on 4/27/2017

This article is a follow up to Bruce Wallace’s April 13, 2017 update, "Is your Motor Vehicle Loan Safe?" regarding how insurance policies may not protect the credit union’s lien. Specifically, Mr. Wallace’s update dealt with...more

Joint Tenancy Lienholders Should Timely Execute on Judgment Liens in Order to Avoid Losing Property Interest

Balch & Bingham LLP on 9/26/2016

The Alabama Supreme Court recently held in Ex parte Arvest Bank, that an unexecuted judgment lien against the property interest of one joint tenant does not sever a joint tenancy with the right of survivorship, thereby...more

Florida Inferior Liens Not Extinguished If Recorded After Foreclosure Judgment – What To Do Now

Baker Donelson on 9/6/2016

The Fourth District has ruled that inferior liens are extinguished in a foreclosure proceeding when the final judgment is entered, not when the certificate of sale is issued, putting 30 years of established law into question....more

Real Property & Title Insurance Update: Week Ending July 15, 2016

Carlton Fields on 7/21/2016

REAL PROPERTY UPDATE - Foreclosure/Unclean Hands: defense of unclean hands insufficient where borrower alleges bank’s loan officer inflated borrower’s income and assets to qualify for loan where borrower signed off on...more

Avoiding a Limitations Fight by Rescinding Acceleration

Baker Donelson on 10/29/2015

Texas recently added a new statute aimed at providing lienholders and loan servicers an unambiguous method for unilaterally abandoning the acceleration of a loan's maturity. When a borrower defaults in paying an...more

H.B. 2067: A Statutory Method for Unilateral Rescission

McGuireWoods LLP on 7/17/2015

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

Who is Reading Your Mail? The Florida Condominium Termination Trap

Baker Donelson on 7/15/2014

Crowded dockets, understaffed courts, increased foreclosure times, mandatory mediation, trial mortgage modifications, last-minute bankruptcy petitions and litigation tactics, which in far too many instances fell somewhere...more

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Mortgages › Lienholders

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