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. Orders to Show Cause Under Section 702.10, Florida Statutes.

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Foreclosure Lender Judgment Law Firms 90

Jimerson Firm

MAY 25, 2021

In every foreclosure action, the foreclosing lender will be required to publish some sort of legal advertisement or notice in a newspaper (e.g. the Notice of Foreclosure Sale). Since publishing a legal notice concerning a foreclosure action is inevitable, it is imperative for lenders to know how to do so properly.

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Foreclosure Lender Judgment Construction 52

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. 49.08, Fla. 1)(c), Fla. 702.035, Fla.

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Foreclosure Construction Judgment Lender 98

Jimerson Firm

FEBRUARY 18, 2021

However, there are important aspects of the Construction Lien Law that can directly affect the rights and obligations of lenders in numerous ways. Accordingly, lenders making construction loans or those whose loan will be secured by a mortgage on real property, must be aware of notices of commencement and their requirements under Fla.

Construction 98

Construction Lender Loans Banks 98

Jimerson Firm

SEPTEMBER 22, 2020

Parts 1-3 of this series explored alternative pre-foreclosure loss mitigation options for lenders including acceleration and enforcement of personal guarantees. Losing the Right to Collect Rents: Junior Foreclosure Sales. the person who purchased the property at the foreclosure sale). See Orlando Hyatt Assocs.,

Foreclosure 98

Foreclosure Lender Law Firms Collections 98

Jimerson Firm

NOVEMBER 13, 2020

When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. If the collateral is real property, the lender must liquidate all parcels of real property that has a Recoverable Value over $10,000. Is the Recoverable Value of the Property Over $10,000? See SOP 50 57.

Loans 98

Loans Collateral Foreclosure Lender 98

Jimerson Firm

FEBRUARY 3, 2021

In Florida, lenders may find themselves foreclosing on real property with a mobile home attached to the land. If the mobile home has been retired and is part of the real property, it will be included in the foreclosure. If the mobile home has been retired and is part of the real property, it will be included in the foreclosure.

Foreclosure 96

Foreclosure Collateral Lender Repossession 96

Jimerson Firm

MAY 24, 2021

If this happens, the tax lien will become superior to the lender’s mortgage lien. This may be troublesome for lenders because the property may then be sold for taxes, which will eliminate the lender’s mortgage lien. If, however, a tax deed is issued, the lender will have an opportunity to redeem the property. 197.122(a).

Collateral 52

Collateral Lender Foreclosure Judgment 52

Jimerson Firm

NOVEMBER 23, 2020

When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. Lenders must liquidate all personal property that has a Recoverable Value over $5,000. In Florida, the lender can choose from the following methods: UCC Sale. Barnett Bank of Pensacola , 397 So.

Collateral 98

Collateral Loans Secured Creditor Lender 98

Jimerson Firm

DECEMBER 30, 2020

In the event a borrower is seriously delinquent on making payments under a SBA loan, or the SBA loan is classified in liquidation status, lenders and CDCs must develop a prudent and commercially reasonable strategy to maximize their recovery on the loan. SOP 50 57 ; SOP 50 55. SOP 50 57 2; SOP 50 55. SOP 50 57 2; SOP 50 55.

Loans 98

Loans Collateral Lender Foreclosure 98

Jimerson Firm

AUGUST 7, 2020

The Act codifies existing common law in Florida regarding the right to have a receiver appointed by the court in commercial foreclosure actions, and provides much needed clarity, predictability, and uniformity on the standard for the appointment of a receiver and the powers of receivers. What is the Purpose of the Act? Authors: C.

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Foreclosure Lender Judgment Creditors 98

Jimerson Firm

MAY 12, 2021

When a borrower dies, lenders are often left wondering what to do. Based on this, in the event a borrower dies, lenders need to know what actions they should consider doing upon notification of a borrower’s death, who is a “successor in interest,” and what their obligations are to a successor in interest.

Collateral 52

Collateral Lender Loans Foreclosure 52

Jimerson Firm

JULY 30, 2020

In reviewing a loan file after a default by a borrower, lenders should evaluate whether the loan includes an acceleration clause and whether the loan is secured by any personal guaranties. Part 2 of this series analyzed pre-foreclosure loss mitigation options for lenders dealing with hotel/restaurant mortgage defaults.

Lender 98

Lender Loans Foreclosure Judgment 98

Jimerson Firm

MARCH 12, 2021

In Florida, foreclosure actions must be brought in the county where the land is located. However, lenders often wonder where they should file the foreclosure action if the loan is secured by mortgaged land situated in different counties. Intercredit Bank, N.A. , Flagship Cmty Bank , 96 So. 2d 863, 864 (Fla.

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Foreclosure Lender Collateral Loans 98