Roths Child Law

OCTOBER 17, 2023

Homeownership has traditionally been considered a cornerstone of the American dream, but financial setbacks can sometimes threaten this dream, even for those who are well compensated, fiscally responsible and generally considered low-risk for foreclosure. This legal provision stops most collection efforts, including foreclosure sales.

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Sawin & Shea

SEPTEMBER 6, 2023

If you’re considering filing for bankruptcy, you’re not alone; roughly 375,000 people filed for bankruptcy in 2022, and home foreclosure filings rose 115% in 2022 over the number of foreclosures in 2021. The good news is that homeowners can get back on their feet and keep their homes with various options to stop foreclosure.

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Albuquerque Law

NOVEMBER 8, 2022

Are you facing foreclosure? If eligible, the free money can be used to help pay for past due payments on your mortgage, utility bills, property taxes and homeowner insurance, as well as assistance with a possible decrease in the amount owed on a mortgage in order to prevent or avoid foreclosure.

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Roths Child Law

APRIL 16, 2021

When you purchase a property and begin making payments on a mortgage, you slowly accrue equity. It may only take a few months of missed payments to motivate your lender to foreclose on your home. Once foreclosure starts, you need to act quickly or risk losing everything you have invested in your home.

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Credit Corp

MARCH 9, 2021

When you’ve missed a mortgage payment your mind may immediately spiral to foreclosure. Foreclosure. But, it should bring you some peace of mind to know that foreclosure is not the immediate consequence for missing a loan payment. Foreclosure doesn’t really come up until you’ve missed two or three payments.

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Credit Corp

JUNE 14, 2023

More than 10% of subprime auto loan customers were behind on payments by 60 days or more in early 2021. Whether or not you fall under the subprime category, it can be surprisingly easy to miss an auto payment—or any other debt. So, when do you know that you have a late car payment on your hands? Were you one of them?

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Jimerson Firm

JUNE 28, 2021

In Florida, a lender initiates a foreclosure by commencing a lawsuit in the county where the property is located. If the lender is successful, the lender will receive a final judgment of foreclosure from the court and the property will be sold at a public auction. Sometimes, a lender’s foreclosure lawsuit will be dismissed.

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ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Section 362 of title 11 of the United States Code (the “Bankruptcy Code”) provides that the filing of a bankruptcy petition results in an automatic stay generally enjoining all actions, including a foreclosure sale, against a debtor or its property. [1]

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Jimerson Firm

JANUARY 14, 2021

The first half of this series evaluated options available to lenders prior to instituting a commercial foreclosure action. The second-half of this series has evaluated available options to lenders during the pendency of the foreclosure action. 1), directs the defendants to show cause why a foreclosure judgment should not be entered.

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Jimerson Firm

SEPTEMBER 28, 2020

A residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court. It is important for the plaintiff to check the local rules in the county where the foreclosure action is filed to determine if there are any procedural requirements. Letters to the Armed Forces of the U.S.:

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Burr Forman

JULY 27, 2021

In just a few days, on July 31, 2021, the national moratoriums on residential evictions and foreclosures are set to expire. The new program is aimed at reducing the monthly payments for individuals with qualifying mortgage loans. The new program is aimed at reducing the monthly payments for individuals with qualifying mortgage loans.

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Jimerson Firm

OCTOBER 22, 2020

Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Parts 1-4 of this series discussed pre-foreclosure options available to lenders dealing with hotel/restaurant mortgage defaults. 702.015(4) , Fla. York, 903 So.

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Roths Child Law

APRIL 16, 2021

When you purchase a property and begin making payments on a mortgage, you slowly accrue equity. It may only take a few months of missed payments to motivate your lender to foreclose on your home. Once foreclosure starts, you need to act quickly or risk losing everything you have invested in your home.

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Foreclosure Chapter 13 bankruptcy Bankruptcy Lender 40

Jimerson Firm

MAY 19, 2021

Although a lender may have won the battle by obtaining a final judgment of foreclosure from the court, it may not win the war. Although a lender may not be able to avoid this from happening, it should be aware of how and why their final judgment of foreclosure may be set aside. Why Would a Final Judgment of Foreclosure be Set Aside?

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Burr Forman

JULY 30, 2020

On March 18, 2020 the South Carolina Supreme Court issued an order suspending foreclosures and evictions until May 1. Unlike other states, these orders did not limit the application to residential evictions and foreclosures and therefore, whether intentionally or not, applied to commercial evictions and foreclosures as well.

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Troutman Sanders

JULY 28, 2020

Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? Due to a mortgage borrower’s payment default, Federal National Mortgage Association (“Fannie Mae”) filed a judicial foreclosure action in Oregon state court, seeking to force a sheriff’s sale of the property.

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Troutman Sanders

FEBRUARY 23, 2021

Engel, the Court of Appeals established a bright-line rule that when the acceleration of a mortgage debt occurs by filing a foreclosure complaint, a lender’s voluntary discontinuance of that action constitutes a revocation of acceleration as a matter of law, absent an express, contemporaneous statement to the contrary by the lender.

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FFGN COLLECT NY

FEBRUARY 2, 2021

The lien itself can not secure payment for monies owed. Since you filed the lien and have not received payment, you will need to decide which direction to take to secure payment. Securing Payment. Common Defenses and Counterclaims That Arise During Mechanic’s Lien Foreclosure Cases.

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Fico Collections

FEBRUARY 10, 2023

Home Blog FICO Consumers Prioritize Mortgage Payments Over Auto What are the drivers behind this mortgage and auto loan payment hierarchy behavioral shift and is it likely to be a lasting trend? Consumers could avoid delinquency on their credit accounts by requesting a payment accommodation due to hardship caused by the pandemic.

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Troutman Sanders

FEBRUARY 26, 2021

In denying summary judgment, this decision serves as a reminder to servicers to ensure a thorough review of correspondence from a borrower to evaluate whether they may file for nonjudicial foreclosure without implicating the FDCPA or state collection laws. In that case, the plaintiffs fell behind on their mortgage payments.

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Collection Industry News

JANUARY 4, 2021

While, in theory, the intention is to protect residential tenants from eviction and owners from foreclosure and tax lien sales, we may yet find that the unintended consequence of the expansion of these protections may be a disparate negative impact on small residential landlords.

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Collection Industry News

AUGUST 18, 2020

Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? Due to a mortgage borrower’s payment default, Federal National Mortgage Association (“Fannie Mae”) filed a judicial foreclosure action in Oregon state court, seeking to force a sheriff’s sale of the property.

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ABI

JANUARY 22, 2023

8] In February 2021, M360 initiated a state foreclosure action following East/Alexander’s default on the mortgage. [9] 9] Following the appointment of a receiver by the state court, East/Alexander filed a voluntary petition for relief under Chapter 11 resulting in a stay of M360’s foreclosure action. [10]

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Consumer Financial Services Law

FEBRUARY 1, 2018

The Tenth Circuit has weighed in on whether a non-judicial foreclosure is debt collection activity. With the Tenth Circuit’s decision the circuits remain split with the Ninth Circuit and now the Tenth Circuit holding that non-judicial foreclosures are not debt collection activity and the Fourth, Fifth and Sixth Circuits holding that they are.

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Collection Industry News

MARCH 23, 2021

After a full year of commercial tenants and commercial mortgagors relying on Governor Cuomo’s executive orders requiring moratoriums on evictions and foreclosures as the main source of protection, this Act provides certain relief measures to protect eligible small businesses suffering from COVID-19 hardships. field, or. (ii)

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Jimerson Firm

MARCH 19, 2021

When a lender holds a defaulted loan there are several issues that need to be considered before initiating a foreclosure. Lenders holding defaulted loans will first need to consider relevant Florida laws prior to beginning any foreclosure proceedings. Foreclosures are a state law proceeding first and foremost. Busey Bank, N.A.,

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Jimerson Firm

JUNE 30, 2021

However, lenders are not always the successful party in the foreclosure and, to the disappointment of the lender, the lawsuit may be dismissed. 2016) , lenders may be able to file a foreclosure lawsuit on the same property more than once. In this case, the mortgagee brought two foreclosure lawsuits against the mortgagor.

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Consumer Finance

FEBRUARY 28, 2021

Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action. Over 11 million families are behind on their rent or mortgage payments: 2.1

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Credit Corp

JANUARY 24, 2024

Compensating Factors Your Lender May Take Into Account Other VA Loan Requirements How to Get a VA Loan After Bankruptcy or Foreclosure Who Qualifies for a VA Loan? Here’s an overview of how to get a loan after foreclosure or bankruptcy. The waiting period for a foreclosure is two years. What Are the Benefits of a VA Loan?

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Chapter 13 bankruptcy Loans Chapter 7 bankruptcy Foreclosure 52

Jimerson Firm

APRIL 2, 2021

Lenders must pay particular attention to subordinate liens and encumbrances prior to initiating any foreclosure action. Lenders can discover whether subordinate liens and encumbrances exist on a property by performing a title examination prior to initiating foreclosure. Subordinate Liens. York, 903 So. 2d 981, 983 (Fla. 2d DCA 2005).

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Roths Child Law

MARCH 15, 2023

Even making the minimum monthly payment on certain accounts could be prohibitive when people owe tens of thousands of dollars on credit card debt and have a multi-hundred-dollar car payment each month in addition to their mortgage and utility bills.

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Sawin & Shea

FEBRUARY 22, 2023

And although there are benefits to obtaining this type of mortgage, debtors often have to pay increased interest and monthly payments. These increased payments can put financial pressure on debtors, leading them to fall behind on their housing payments. An adjustable-rate mortgage is a home loan that features variable payments.

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debtor 72

Credit Corp

JUNE 12, 2023

Handling mortgage payments is challenging, especially if you’re facing economic difficulties and don’t know where or how to get financial assistance. How to Apply for the FMP Other Mortgage Payment Help Options FAQS What Is the Flex Modification Program? Are you looking to improve your mortgage management but don’t know where to start?

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Loans Foreclosure Lender Government 94

Sawin & Shea

APRIL 13, 2021

If you are struggling to pay your mortgage and other bills, the good news is that the CARES Act (Coronavirus Relief and Economic Security) has extended the deadline for when the foreclosure moratorium is due to expire. Can you sell your house if you are in a foreclosure situation?

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Foreclosure 80

Nerd Wallet

AUGUST 7, 2020

Many Americans may be forced to consider moving as federal foreclosure and eviction moratoriums expire. In the first week of July, 32% of Americans did not make a full, on-time housing payment, according to a nationally representative survey by the website Apartment List. Amrita Jayakumar is a writer at NerdWallet.

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Nerd Wallet

DECEMBER 10, 2020

The transaction requires the lender’s approval and is a last resort to avoid foreclosure when a homeowner can no longer afford to make mortgage payments. Short sales, sometimes called pre-foreclosure or distressed sales, Barbara Marquand writes for NerdWallet. Email: bmarquand@nerdwallet.com. Twitter: @barbaramarquand.

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Jimerson Firm

JANUARY 26, 2021

An “assignment of rents” allows the lender to collect the rent payments, if the borrower defaults on their loan payments. If a lender and borrower agree to the assignment of rents as security for repayment of debt in a mortgage document, the lender will hold a lien on the rent payments. Bank, Nat’l Ass’n , 128 So. 697.07 (3).

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