News & Analysis as of

Foreclosure › Default › Forbearance Agreements

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Holland & Knight LLP

CFPB Proposes New Restrictions on Mortgage Servicers Before Commencing Foreclosures

Holland & Knight LLP on

The Consumer Financial Protection Bureau (CFPB) on July 10, 2024, announced a proposed rule that would require servicers to more intently assist borrowers throughout a "loss mitigation review cycle" before being permitted to...more

Tonkon Torp LLP

Understanding Workout Agreements for Commercial Real Estate Loans in Default

Tonkon Torp LLP on

When commercial real estate loans go into default, workouts are often pursued to resolve the default by agreement. What are the common forms of workout agreements? For commercial real estate borrowers in default, it’s...more

Carlton Fields

COVID-19: What Can a Lender Do to Prepare for the Inevitable Defaults?

Carlton Fields on

The spread of COVID-19 across the globe has created immediate and dynamic concerns for the financial sector, which are beginning to trigger financial repercussions unlike anything since the Great Recession began in 2007/2008....more

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