News & Analysis as of October 13, 2024

Bankruptcy Court

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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 +

Deed in Escrow

Morrison & Foerster LLP on 6/19/2024

Is a “deed in escrow,” sometimes referred to as a “deed in a box,” enforceable in New York? While many real estate attorneys believe that it is not, a recent court ruling illustrates that the answer may not be as...more

Florida Bankruptcy Court Holds That Lenders Must Specify Post-Judgment Interest Rates in Addition to Post-Default Rates in Loan...

King & Spalding on 1/23/2023

On November 21, 2022, the U.S. Bankruptcy Court for the Southern District of Florida sustained the debtors’ objection to mortgage lender Benworth Capital Partners, LLC’s proof of claim and held that the state’s statutory...more

Should I Stay or Should I Go: Second Circuit Holds that Mortgagee Violated Automatic Stay by Foreclosing on Property where...

Cadwalader, Wickersham & Taft LLP on 10/26/2022

On July 6, 2022, the Court of Appeals for the Second Circuit decided In Re: Eileen Fogarty, holding that a mortgagee violated the automatic stay imposed when a tenant filed bankruptcy by proceeding with a foreclosure sale...more

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

Hinshaw & Culbertson LLP on 2/6/2020

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

Bankruptcy Court Confirms Enforceability of Mortgage Notwithstanding Expiration of Statute of Limitations for Underlying...

Nutter McClennen & Fish LLP on 9/24/2019

In In re Fortin, 598 B.R. 689 (Bankr. D. Mass. 2019), the United States Bankruptcy Court for the District of Massachusetts considered whether a lender may enforce a mortgage despite the unenforceability of the underlying...more

No Surrender: Massachusetts Appeals Court Preserves Foreclosure Challenges for Bankruptcy Petitioner

Hinshaw & Culbertson LLP on 9/8/2017

Like Bruce Springsteen, a Massachusetts bankruptcy debtor said "no surrender" when it came to his home. In EverBank v. Chacon, a panel of the Massachusetts Appeals Court issued a non-binding decision that a debtor's...more

How Long Is Too Long To Reopen A Bankruptcy Case?

Tucker Arensberg, P.C. on 11/5/2015

In a per curiam opinion that is not precedential but of interest to lenders who take mortgages as security, the Court of Appeals for the Third Circuit decided that the Debtor’s effort to reopen her bankruptcy case was too...more

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