News & Analysis as of

Mortgages › Foreclosure › Financial Distress

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 +
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 uses that property as collateral for the loan. less -
Tannenbaum Helpern Syracuse & Hirschtritt LLP

Borrower’s Approach to The Real Estate Mortgage Loan Workout

Tannenbaum Helpern Syracuse & Hirschtritt LLP on

Many owners of commercial properties across the country encumbered by mortgage debt are still struggling to navigate the distressed real estate market, primarily due to their inability to pay current debt service resulting...more

Holland & Knight LLP

CFPB Proposes New Restrictions on Mortgage Servicers Before Commencing Foreclosures

Holland & Knight LLP on

The Consumer Financial Protection Bureau (CFPB) on July 10, 2024, announced a proposed rule that would require servicers to more intently assist borrowers throughout a "loss mitigation review cycle" before being permitted to...more

Lowndes

Six Tips for Lenders Foreclosing a Shopping Center

Lowndes on

Foreclosing on a mall or shopping center presents unique issues for a lender. Failing to anticipate these issues could cause problems, such as a lengthier foreclosure process or a lower resale value after the foreclosure....more

Cadwalader, Wickersham & Taft LLP

Summer's Coming, May 2021 | Issue No. 24 - COVID-19 Update: Governor Cuomo Extends Eviction and Foreclosure Moratorium until...

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On May 5, 2021, New York Governor Andrew Cuomo signed a bill that extends the moratorium on evictions and foreclosures for residential tenants and small businesses to August 31, 2021. The previous moratorium expired May 1,...more

Rumberger | Kirk

Texas Federal Court Ruled Federal Government Has No Constitutional Power Over Foreclosures and Evictions

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A federal court in Texas has ruled that the federal government has no constitutional power to prohibit real estate foreclosures and evictions pursuant to coronavirus legislation and regulation, calling into question whether...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Governor Cuomo Extends Residential Eviction and Foreclosure Moratorium

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Since declaring a State of Emergency on March 7, 2020 in response to the COVID-19 pandemic, New York Governor Andrew Cuomo has issued a number of Executive Orders providing protections for both commercial and residential...more

Lowndes

Foreclosure Moratorium Update

Lowndes on

Early in the response to the COVID-19 pandemic, various foreclosure moratoriums effecting Florida real estate were issued. The U.S. Department of Housing and Urban Development (HUD) issued a moratorium on all foreclosures of...more

Bilzin Sumberg

Legal Challenges Greet New Moratorium on Residential Evictions, Foreclosures

Bilzin Sumberg on

On September 4, the Centers for Disease Control (CDC) imposed a moratorium on residential foreclosures and evictions through the end of this year. The move quickly followed comments by the Trump administration that it would...more

Bradley Arant Boult Cummings LLP

COVID-19 Mortgage Servicing Trends Report

Bradley Arant Boult Cummings LLP on

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

Lowndes

Governor DeSantis Extends Florida's Moratorium on Evictions and Foreclosures to October 1

Lowndes on

On Monday, September 1, 2020, Florida Governor Ron DeSantis extended (for a fifth time) a previous executive order that suspended and tolled the Florida statutes that provide for final action at the conclusion of a...more

Roetzel & Andress

Florida Governor Extends Mortgage Foreclosure And Eviction Relief Until Oct. 1

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Florida Governor Ron DeSantis issued a new executive order that extends mortgage foreclosures and eviction relief until October 1. Executive Order 20-211 does not make any further changes, but only extends the same language...more

Burr & Forman

Florida Governor Renews Housing Protections for Florida Families

Burr & Forman on

Florida, like the majority of the United States, has enacted several economic protections in response to the coronavirus pandemic, including eviction moratoriums for the non-payment of rent. ...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Governor Cuomo Extends Tenant Protections, Including Eviction and Foreclosure Moratorium

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On August 5, 2020, New York State Governor Andrew Cuomo issued Executive Order 202.55 (the “New Order”) to provide additional relief to renters impacted by the COVID-19 pandemic and extended the time periods for certain other...more

Bilzin Sumberg

Further Extension of Governor’s Order Prohibiting Evictions and Foreclosures in Florida

Bilzin Sumberg on

Governor DeSantis previously issued Executive Order 20-94 on April 2, 2020, suspending and tolling any statute providing for a mortgage foreclosure or residential eviction due to non-payment of rent that, after several...more

Hinshaw & Culbertson - Consumer Crossroads

New York Courts Lift Suspension of Foreclosure Proceedings, Add Additional Conference Requirement

Hinshaw & Culbertson - Consumer Crossroads on

On July 24, 2020, the New York State Courts issued Administrative Order 157/20 (AO/157/20). Effective July 27, 2020, AO/157/20 removes the formal suspension of all residential foreclosures, but keeps a limited suspension of...more

Lowndes

Governor DeSantis Extends Eviction and Foreclosure Moratorium until September 1

Lowndes on

On July 29, 2020, Florida Governor Ron DeSantis signed Executive Order 20-180 that extended (for a fourth time) his previous executive order which effectively put a moratorium in place on mortgage foreclosures and residential...more

Burr & Forman

South Carolina Moratorium on Evictions and Foreclosures Due to COVID-19

Burr & Forman on

On March 18, 2020 the South Carolina Supreme Court issued an order suspending foreclosures and evictions until May 1.  These suspensions were subsequently extended to May 15th by a Supreme Court Order dated April 30th. ...more

Tucker Arensberg, P.C.

Pennsylvania Housing Finance Agency Launches Programs for Mortgage and Rent Relief

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Pennsylvanians facing foreclosure or eviction may apply for assistance under the newly enacted Act 24 of 2020. The Pennsylvania General Assembly directed 175 million of the Coronavirus Aid Relief and Economic Security Act...more

Mayer Brown

Federal Housing Agencies and GSEs Announce Updates to COVID-19 Relief Measures for Mortgage Loan Borrowers

Mayer Brown on

In recent weeks, the US federal housing agencies and government-sponsored enterprises (GSEs) that insure, guarantee, or purchase “federally backed mortgage loans” covered by Section 4022 of the CARES Act (Act) have continued...more

Ballard Spahr LLP

HUD and VA Extend Foreclosure Moratoriums Through August 31

Ballard Spahr LLP on

On June 17, 2020, the U.S. Department of Housing and Urban Development (HUD) in Mortgagee Letter 2020-19 extended the foreclosure and eviction moratorium for FHA insured single-family loans from June 30, 2020 to August 31,...more

Akerman LLP

FHFA Again Extends Eviction and Foreclosure Moratorium

Akerman LLP on

On June 17, 2020, the Federal Housing Finance Agency (FHFA) announced an extension of its eviction and foreclosure moratorium due to the COVID-19 pandemic until August 31, 2020. This is an extension of FHFA’s May 14 and March...more

Ballard Spahr LLP

New York Senate Bill Amends Expanded Forbearance Relief Granted by Previous Bill

Ballard Spahr LLP on

As noted in our alert on June 9, 2020, New York Senate Bill S8243C was delivered to the Governor on June 5, 2020. The same day, New York Senate Bill S8428 was also delivered to Governor Andrew Cuomo....more

Morrison & Foerster LLP

Courts: A Foreclosure Pandemic Pause? (Part 1)

Morrison & Foerster LLP on

As borrowers fall into financial distress as a result of the ongoing coronavirus pandemic, or otherwise, and loans default, some lenders look to foreclose their mortgage and mezzanine loans. While there is little judicial...more

Greenberg Glusker LLP

Real Estate Concerns in the Time of Coronavirus

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The Coronavirus has been spreading across the globe. However, until recently, its impact on businesses in the United States has largely been a result of circumstances occurring elsewhere in the world, such as disruptions in...more

Rosenberg Martin Greenberg LLP

CARES Act Provisions Affecting Bankruptcy And Residential Mortgage Loans

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The Coronavirus Aid, Relief and Economic Security Act (“CARES”) enacted on March 27, 2020 contains a number of provisions affecting bankruptcy cases, modification and enforcement of federally backed residential mortgage...more

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