Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision
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
Why Lienholders and Loan Servicers Should Care - In a unanimous decision, the Supreme Court held in Tyler v. Hennepin County that a county’s process of retaining the equity in a homeowner’s property constitutes a violation...more
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
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
Over the last few years, the Arizona Court of Appeals wrestled with the question of who should receive the excess proceeds from a foreclosure sale. We’ve blogged about some these past unreported decisions here and here. ...more
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
Washington’s recently enacted Washington Wage Recovery Act, SB 5355 (the “Act”), creates a new statutory lien for employees’ unpaid wage claims against their employers. The Act has significant implications for employees,...more
In response to the ongoing delays and uncertainty caused by the COVID-19 pandemic, Governor Brown signed House Bill 4212 into law in June 2020. The law contains a number of remedial measures affecting the functioning of local...more
Oscar Wilde is quoted for saying—“To expect the unexpected shows a thoroughly modern intellect.” This advice certainly holds true for a senior deed of trust lienholder contemplating foreclosure on real property security. ...more
Following the death of George Floyd during his arrest in Minneapolis, Minnesota, America experienced months of civil unrest throughout the country. It was during these protests that some began to assert that civil society in...more
Our Creditors' Remedies attorneys answer the most asked questions from their clients. 1. What happens at a real estate foreclosure sale? The sheriff of the county where the real estate is located reads the published...more
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
Everyone is familiar with the “Rock, Paper, Scissors” method of resolving disputes where scissors cut paper, paper covers rock, and rock breaks scissors. In Futuri Real Estate, Inc. v. Atlantic Trustee Services, the Virginia...more
Agricultural liens are a very powerful but often overlooked tool available to those that aid in the growing or harvesting of crops or raising animals or those who sell their agricultural products. These liens attach not only...more
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 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
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
Beginning October 1, 2015, lenders in Nevada will have a much-needed right to redeem properties sold at homeowners association (HOA) foreclosure sales for pennies on the dollar. Specifically, lenders and homeowners will have...more
On July 22, 2014, the Connecticut District Court issued an opinion, Eastern Savings Bank FSB v. St. Germain, et al, 2014 WL 3687740 (D. Conn. 2014), which could impact the applicability of the automatic stay of 11 U.S.C....more
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
Foreclosure/Surplus Funds: subordinate lienholder who failed to file claim to surplus funds with clerk within sixty days of foreclosure sale as required by section 45.031(7)(b), Florida Statutes (2010) not entitled to surplus...more
Every so often, we might not realize that, by our actions, we are doing exactly what the opposing party wants us to do. Perhaps we do not have an appropriate amount of time for each and every decision to consider ‘the forest’...more