Mortgages, Foreclosure, Creditors

Litigation Byte (June Edition)

McGlinchey Stafford on 7/16/2024

The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more

Secured Creditors’ State Court Rights Affected By Proof Of Claim Choices

Fox Rothschild LLP on 4/8/2021

Secured creditors have many choices when it comes to how to file a proof of claim in bankruptcies. Those choices should be weighed carefully, however, because certain choices can have important unexpected consequences that...more

Covid-19 Mortgage Servicing Trends Report - Update

Bradley Arant Boult Cummings LLP on 12/23/2020

Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables. This report is intended to show industry trends, not facts, and does not necessarily...more

Update: COVID-19 Mortgage Servicing Trends Report

Bradley Arant Boult Cummings LLP on 12/2/2020

Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables... The polling results included in this report are the anonymous responses of...more

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

Carlton Fields on 5/2/2019

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

Everyone Wins When a Foreclosure Sale Generates Excess Proceeds

Snell & Wilmer on 7/16/2018

When a foreclosure sale generates more money than needed to pay off the lien, the excess proceeds usually go first to creditors in the order of their priority, and second to the owner after creditors are paid in full. So, in...more

Mortgage Creditors Confront Five Year Extension of Mandatory Pre-Foreclosure Mediation Process in Rhode Island

Hinshaw & Culbertson LLP on 6/20/2018

The Rhode Island Senate recently approved a five-year extension of R.I. Gen. Laws § 34-27-3.2, which had established a mandatory mediation program any out-of-state mortgagee must follow before initiating foreclosure on...more

Eleventh Circuit Moves Toward Bright Line Rule That Debtors Cannot Retain Real Property Post- Discharge Without Reaffirming the...

Burr & Forman on 8/23/2017

Last year, Burr & Forman lawyers won a decisive victory in the Eleventh Circuit, in the case of In re Failla, 838 F.3d 1170 (11th Cir. 2016). In Failla, the Eleventh Circuit held that a debtor who files a statement of...more

Court Denies Creditor’s Motion to Dismiss Chapter 11 Case Despite Multiple Factors in Favor of Dismissal

Burr & Forman on 6/21/2017

In a recent case out of the bankruptcy court for the Southern District of Florida (the “Court”), a secured creditor moved to dismiss a debtor’s bankruptcy case “for cause” based on the debtor’s bad faith filing. The debtor...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 8/26/2016

Financial Industry Developments - CFTC Announces Measures to Enhance Protection of Customer Funds - On August 8, 2016, the U.S. Commodity Futures Trading Commission (CFTC) announced three separate enhancements...more

The District of Massachusetts Calls for Review of Practice of “Surrendering” Underwater Property

Harris Beach PLLC on 4/14/2016

For secured lenders, a consumer debtor’s chapter 13 bankruptcy filing can be a mixed bag. A chapter 13 bankruptcy petition often is utilized by a consumer debtor to avoid a foreclosure by allowing a debtor time (usually...more

Creditors Rights Suffers a Major Depression in North Carolina

Nexsen Pruet, PLLC on 1/7/2016

So, What can a Lender Count on from a Guarantor? - In 1933, the North Carolina legislature in reaction to the Great Depression enacted certain defenses against alleged abuses by lenders exercising remedies under...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

Act 6/91 Update

Tucker Arensberg, P.C. on 11/21/2014

The Pennsylvania Superior Court issued an opinion that sets forth a new interpretation of Act 6. It may adversely impact some pending consumer foreclosure actions, and it changes the notice requirements on subsequent...more

Expansion of California’s Anti-Deficiency Laws Means More Litigation For Creditors

Manatt, Phelps & Phillips, LLP on 9/26/2013

Turning a narrow consumer shield into a potentially broad sword, this summer California expanded its anti-deficiency judgment laws to prohibit not only the judicial pursuit of mortgage deficiency balances, but also to declare...more

Georgia Court Reiterates that Creditors Seeking Deficiency Judgments Must Adhere to 30-Day Foreclosure Sale Confirmation Rule

Ballard Spahr LLP on 8/28/2013

In a recent opinion, the Georgia Court of Appeals reaffirmed that creditors who wish to seek deficiency judgments following a non-judicial foreclosure must seek to have the sale confirmed within 30 days of the sale....more

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