Mortgages, Foreclosure, Debtors

Night of the Living Debt

Obermayer Rebmann Maxwell & Hippel LLP on 4/4/2024

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

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

Can I recover excess proceeds from a foreclosure sale? - McGlinchey Commercial Law Bulletin - August 2022

McGlinchey Stafford on 8/22/2022

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

When do the AAA Rules Govern Arbitrability? - Commercial Law Bulletin April 25 2022

McGlinchey Stafford on 4/25/2022

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

Copper Creek Confirms That Bankruptcy Discharges Have No Effect on the Statute of Limitations in Washington State

Perkins Coie on 3/31/2022

As we previously noted, the statute of limitations on actions to enforce a note or deed of trust can be a brutally effective sword for borrowers in Washington State. Under the six-year limitations period of RCW 7.28.300, a...more

Bar Exam Toolbox Podcast Episode 146: Listen and Learn -- Mortgages and Priority

Law School Toolbox on 9/21/2021

Welcome back to the Bar Exam Toolbox podcast! In today's installment of our "Listen and Learn" series, we're focusing on Real Property. In particular, we're diving into the tricky subtopic of mortgages and priorities. In...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

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

American Conference Institute (ACI) on 11/13/2020

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

Fannie Mae Extends Temporary Moratorium On Residential Foreclosures And Evictions

Tonkon Torp LLP on 9/25/2020

At the end of August, Fannie Mae announced an extension of a temporary moratorium on residential foreclosures and evictions that was originally set to expire on August 31, 2020. The moratorium applies to single-family...more

Am I a party entitled to enforce a promissory note?

McGlinchey Stafford on 6/23/2020

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

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

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

Structured Finance Spectrum - February 2019

Alston & Bird on 2/25/2019

SECURITIZATION SIDE NOTES – EU Risk Retention: Did This Come with a Gift Receipt? We’d Like to Return It - A new year brings new laws and regulations into effect, in this case a complicated and confusing gift from our...more

Part II: Navigating the Maze of Servicing Discharged Debt

Bradley Arant Boult Cummings LLP on 2/12/2019

Welcome to Part II of our series on the servicing of discharged mortgage debt (catch up on Part I). This part will discuss communications to discharged borrowers and evaluate various disclaimers that can be utilized. The...more

Part I: Navigating the Maze of Servicing Discharged Debt

Bradley Arant Boult Cummings LLP on 1/29/2019

Mortgage servicers are plagued by their nebulous relationships with the borrowers who discharge their personal liability in bankruptcy. Issues arise when the borrower whose debt has been discharged continues to engage with...more

Dear Mortgage Lenders – This New Law Is For You!

Fox Rothschild LLP on 4/2/2018

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

Florida Passes Bill to Stop Bankruptcy Debtors From “Having Their Cake and Eating It Too”

BakerHostetler on 3/27/2018

On March 20, Florida Governor Rick Scott signed Senate Bill 220 into law. The bill is designed to limit the ability of defendants in foreclosure proceedings to keep contesting the foreclosure after agreeing, in bankruptcy, to...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

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