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Foreclosure › Mortgage Lenders › Debtors

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 -
Obermayer Rebmann Maxwell & Hippel LLP

Night of the Living Debt

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It’s the stuff of nightmares.  You think you have cleared all of the debt on your home when it goes into foreclosure, only for that debt to crawl up years later and attack you....more

Hinshaw & Culbertson - Consumer Crossroads

The Texas Supreme Court Has Spoken: Mortgage Servicers May Rewind and Restart the Statute of Limitations Clock Within the Same...

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Last week, the Texas Supreme Court answered the Fifth Circuit’s certified question as to whether simultaneous rescission and reacceleration can reset the limitations period under Texas Law by holding that “a rescission that...more

Morrison & Foerster LLP - Left Coast Appeals

This Week at the Ninth: Schedules and Informants

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This week, the Ninth Circuit explains the ins-and-outs of property abandonment under the Bankruptcy Code, and explores the government’s privilege to withhold the identity of informants in discovery. IN RE STEVENS - The...more

American Conference Institute (ACI)

[Virtual Event] 27th NATIONAL FORUM ON Residential Mortgage Regulatory Enforcement & Litigation - November 17th - 18th, 9:00 am -...

American Conference Institute (ACI) on

ACI’s Residential Mortgage Forum is a premier gathering of leading servicers, lenders, external counsel, and regulators engaging in dialogue on how to navigate the very complex residential mortgage enforcement and litigation...more

McGlinchey Stafford

Am I a party entitled to enforce a promissory note?

McGlinchey Stafford on

Shareholder Derivative Lawsuit Aungst v. Light, 9th Dist. Summit No. 29349, 2020-Ohio-3347 In this appeal, the Ninth Appellate District affirmed the trial court’s decision, finding that when a shareholder’s derivative...more

Hinshaw & Culbertson LLP

First Circuit Bankruptcy Panel Affirms “Gavel Rule” as Determinative of When a Bankruptcy Debtor’s Right of Redemption Terminates

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The Bankruptcy Appellate Panel for the First Circuit has affirmed an earlier decision that concluded a borrower’s right to redeem terminates when the gavel falls at a foreclosure auction, and not when a deed is recorded. ...more

Smith Debnam Narron Drake Saintsing & Myers,...

First Circuit Affirms Bankruptcy Court’s Judgment in Favor of Mortgage Company

Smith Debnam Narron Drake Saintsing & Myers,... on

A First Circuit Bankruptcy Appellate Panel (the “Panel”) recently held that a mortgage company’s communications did not violate the discharge injunction when viewed under an objective standard and considering the facts and...more

Carlton Fields

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

Carlton Fields on

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

Snell & Wilmer

Not so Fast! How Does Revoking Acceleration of a Note Impact the Statute of Limitations?

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Lenders routinely accelerate notes after a default occurs, calling the entire loan due immediately. Less regularly, a lender may change its mind and unilaterally revoke the acceleration. Rarely, however, does a lender fail to...more

Fox Rothschild LLP

Dear Mortgage Lenders – This New Law Is For You!

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In my August post, I discussed two cases. In the Failla case, the Eleventh Circuit affirmed the District Court’s opinion that “once the debtor decides to ‘surrender’ secured property… [w]hile the debtor need not physically...more

Burr & Forman

Eleventh Circuit Affirms That a Debtor’s Surrender in Bankruptcy Means Just That-You Must Surrender

Burr & Forman on

Burr & Forman lawyers won a significant victory in the Eleventh Circuit earlier this month. In the case In re: David A. Failla, — F.3d — (2016), the U.S. Court of Appeals for the Eleventh Circuit affirmed that a person who...more

Baker Donelson

One Appellate Court’s Message to Debtors: Do What You Say!

Baker Donelson on

Mortgage lenders received some good news from the Eleventh Circuit Court of Appeals last week! In Failla v. Citibank, N.A., Case No. 15-15626 (11th Cir. Oct. 4, 2016), the Court affirmed a bankruptcy judge’s order for a...more

Bradley Arant Boult Cummings LLP

The Eleventh Circuit has spoken: “Debtors who surrender property must get out of the creditor’s way”

Bradley Arant Boult Cummings LLP on

In recent years, there has been a hotbed of litigation across the nation, particularly in Florida state and bankruptcy courts, regarding a debtor’s ability to contest a secured creditor’s foreclosure notwithstanding the...more

Hinshaw & Culbertson LLP

Consumer Financial Services Newsletter - August 2016

Hinshaw & Culbertson LLP on

Seventh Circuit Rules: Filing a Proof of Claim for Old Debt Is Okay — Circuits Split - Owens et al. v. LVNV Funding LLC et al., Nos. 15-2044, 15-2082, 15-2109 (7th Cir. Aug.10, 2016) - In Owens v. LVNV Funding LLC,...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Week Ending October 23, 2015

Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Documentary Stamp Tax: deferred interest on a “pick-a-payment” mortgage did not amount to future advance, which would have required payment of documentary stamp tax - Steinberg v. Wells...more

Goodwin

New York’s Highest Court Clarifies Judicial Foreclosure Standing Requirements

Goodwin on

The New York Court of Appeals has clarified the requirements for showing standing to pursue judicial foreclosures in New York state courts after borrowers default on payment obligations, in a ruling that could resolve...more

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