News & Analysis as of

Notice Requirements Foreclosure

Womble Bond Dickinson

Conducting Efficient and Successful Commercial Foreclosure Sales in Georgia: The Process and Considerations for Lenders

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As a non-judicial foreclosure state, it is often thought of as being “easy” to foreclose in Georgia. However, the foreclosure process requires more than running an advertisement for four weeks and conducting the sale on the...more

Alston & Bird

CFPB Releases Long-Awaited Proposal to Amend Regulation X Loss Mitigation Rules

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What Happened? On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to amend provisions of its Mortgage Servicing Rules to significantly revamp requirements relating to borrowers...more

Hinshaw & Culbertson - Consumer Crossroads

Maine Supreme Court Revisits Reverses its Controversial 2017 One-and-Done Foreclosure Decision

A highly contested and controversial legal defense to residential foreclosures in Maine resurfaced earlier this month with the Maine Supreme Judicial Court's decision in Finch v. U.S. Bank, N.A. Finch renewed the legal...more

McGlinchey Stafford

Am I Entitled to Indemnification? - McGlinchey Commercial Law Bulletin - September 29, 2023

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Ohio- Conversion- Bradford v. A Star Properties, LLC, 9th Dist. Summit No. 2023-Ohio-3451- In this appeal, the Ninth Appellate District affirmed the trial court’s decision to grant defendants judgment on a claim for...more

Harris Beach PLLC

NY Court of Appeals Takes Sensible Approach to 90-Day Preforeclosure Notices

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On February 14, 2023, the New York Court of Appeals issued a ruling in Bank of America, NA v. Kessler, holding that the inclusion of concise and relevant additional information does not void an otherwise proper 90-day...more

Troutman Pepper

NY Court of Appeals Clarifies 90-Day Foreclosure Notice Issues In New York

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On February 14, 2023, the New York Court of Appeals overturned the Appellate Division, Second Department’s Kessler decision, which had applied a strict application of Real Property Actions and Proceedings Law § 1304, also...more

McGlinchey Stafford

Inside Georgia’s Abandoned Motor Vehicle Act

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Many states have laws that provide “super liens” to facilities that tow, repair, and store vehicles. Georgia’s current abandoned motor vehicle statute is an example of how these statutes can put the secured party financing...more

Miller Canfield

Michigan Court of Appeals Upholds Taxpayer Recovery of Excess Tax Foreclosure Proceeds, Bars Multi-County Class Actions

Miller Canfield on

Key Takeaways - ..The Michigan Court of Appeals rejected an effort to allow class action recovery of excess proceeds from the sale of tax foreclosed properties. ..The Court ruled that the Michigan Supreme Court's 2020...more

Fox Rothschild LLP

Not all Forced-Sale Mortgage Foreclosures are Exempt from Avoidance as Fraudulent Transfers Under Section 548 – a Case Study...

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The United States Supreme Court held in BFP v. Resolution Trust, that properties sold at “force-sale” mortgage foreclosure sales properly conducted pursuant to a state’s foreclosure statute are presumed to have been sold for...more

Woods Rogers

Important Changes to Virginia Foreclosure Law

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Virginia House Bill 2175, which goes into effect on July 1, 2021, makes dramatic changes to the procedure for conducting foreclosure sales in Virginia. Under the new law, the notice of the foreclosure sale for...more

Epiq

New CFPB Guidance has Loan Servicers Rethinking Communication Strategies

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On April 1, 2021, the Consumer Financial Protection Bureau (CFPB) issued a Compliance Bulletin titled “Supervision and Enforcement Priorities Regarding Housing Insecurity”. The bulletin provided guidance on efforts that...more

Hinshaw & Culbertson - Consumer Crossroads

New York Court of Appeals Decision Clarifies RPAPL Notice Requirements, Affirms Heightened Standard for Borrowers

Last year, as we reported, the Second Circuit requested that the New York Court of Appeals rule on two certified questions concerning predicate notices in foreclosure actions. On March 30, 2021, the Court of Appeals issued...more

Rosenberg Martin Greenberg LLP

Pennsylvania Supreme Court Clarifies Applicability of Act 6 To Residential Mortgage Foreclosures (Sort Of)

When the loan documents provide for confession of judgment and the collateral encumbered by the mortgage securing the loan is commercial real property, the foreclosure process in Pennsylvania is straightforward.  The lender...more

Snell & Wilmer

New Oregon Law Imposes Moratorium on Foreclosures and Notice Requirements on Lenders

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Oregon lawmakers held a three-day special legislative session in June during which they tackled, among other issues, legislation aimed at relief for both consumers and businesses impacted financially by the COVID-19 crisis....more

Davis Wright Tremaine LLP

Oregon Passes Sweeping Law to Protect Real Property and Residential Secured Borrowers

In response to COVID-19, on June 30, 2020 (effective date), Governor Brown signed into law HB 4204, adopted by the Legislative Assembly in its 2020 Special Session, which imposes significant limits on the default remedies of...more

Patton Sullivan Brodehl LLP

A Notice of Trustee’s Sale Does Not Necessarily “Disturb Possession”

Flashback: Five years ago, Money and Dirt covered the Salazar v. Thomas opinion from California’s Fifth District Court of Appeal holding that a Notice of Default does not “disturb possession” sufficiently to start the...more

Hinshaw & Culbertson - Consumer Crossroads

Rhode Island Supreme Court Demands Strict Compliance with Fannie Mae/Freddie Mac "Paragraph 22" in Foreclosures

In a case of first impression, the Rhode Island Supreme Court concluded in Woel v. Christiana Trust that mortgage default notices sent to borrowers must strictly comply with the notice requirements included in a mortgage. The...more

Nutter McClennen & Fish LLP

Update on Massachusetts Eviction Moratorium Due to COVID-19

On April 27, 2020, the Commonwealth’s Executive Office of Housing and Economic Development (“EOHED”) issued emergency regulations, forms, and guidance in connection with Chapter 65 of the Acts of 2020, An Act Providing for a...more

Rosenberg Martin Greenberg LLP

"No Harm, No Foul:” Suit to Set Aside Foreclosure Sale for Failure to Comply With Deed of Trust Doomed By Failure to Allege That...

The opinion of the Virginia Supreme Court of Appeals in Young-Allen v. Bank of America provides both hope for lenders frustrated by borrowers who delay inevitable foreclosure sales by requiring the lender to comply with every...more

Hinshaw & Culbertson - Consumer Crossroads

Legal Guidance Watch: Second Circuit Nostra Sponte Certifies a Series of Mortgage Lender Compliance Questions to New York Court of...

The Second Circuit recently certified two questions to the New York Court of Appeals regarding the requisite proof needed for borrowers to dispute the lender's compliance with New York Real Property Procedures and Acts...more

Holland & Knight LLP

New Tenant Protection Law Affects Conversions of Rental Buildings in New York - Law Also Impacts Proprietary Leases, Subleases and...

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• New York's Housing Stability and Tenant Protection Act of 2019, which was enacted and became effective on June 14, 2019, will have a sizable impact on a landlord's ability to convert buildings to cooperatives and...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending April 26, 2019

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Real Property Update - • Foreclosure / Reverse Mortgage / Condition Precedent: bank failed to establish that the subject property was not the principal residence of surviving co-borrower under its reverse mortgage, a...more

Bradley Arant Boult Cummings LLP

Part II: Navigating the Maze of Servicing Discharged Debt

Welcome to Part II of our series on the servicing of discharged mortgage debt (catch up on Part I). This part will discuss communications to discharged borrowers and evaluate various disclaimers that can be utilized. The...more

Patton Sullivan Brodehl LLP

Eviction After Foreclosure: California Supreme Court Weighs In

This week, the California Supreme Court issued its opinion in Dr. Leevil, LLC v. Westlake Health Care Center.  The case reviewed the decision of the California Court of Appeal from March 2017...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Managing Arkansas Environmental Issues in the Lending/Foreclosure Process: September 26th Arkansas Bankers Association...

I undertook a presentation at the September 26th Arkansas Bankers Association Mega Conference (“Conference”) in Little Rock, Arkansas titled: Managing Arkansas Environmental Issues in the Lending/Foreclosure Process...more

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