Jimerson Firm

NOVEMBER 23, 2020

Barnett Bank of Pensacola , 397 So. If a secured creditor breaches the peace, it may be liable to the debtor for damage done to the debtor or its premises during an unauthorized entry. 2d 1020 (Fla. 1st DCA 1981). The proceeds from a voluntary sale will be applied to the balance of the SBA loan. Set-Off of Deposit Account.

Collateral 98

Collateral Loans Secured Creditor Lender 98

FDCPA Defense

JANUARY 8, 2020

The Buchholz decision should provide powerful support for creditors rights attorneys who are fighting against “meaningful involvement” claims. The plaintiff in Buchholz , a Michigan resident, received two letters from a Minneapolis-based law firm, defendant Meyer Njus Tanick, PA (“MNT”) regarding accounts he owed to Synchrony Bank.

Law Firms 40

Law Firms Creditors Creditor's Rights Collections 40

Jimerson Firm

OCTOBER 22, 2020

Barnett Bank of Alachua Cty., More importantly, it allows courts to sequester the rents into the court registry pending the outcome of the foreclosure action. Appointment of a Receiver. Additionally, lenders/servicers can request the court to appoint a receiver. Steinberg, 632 So. 2d 233, 234 (Fla. & Loan Ass’n of Panama City, 516 So.

Foreclosure 94

Foreclosure Lender Judgment Collateral 94

Jimerson Firm

SEPTEMBER 28, 2020

Deutsche Bank Tr. The judgment is void if constructive service was so defective that it amounted to no notice of the proceedings; the judgment is voidable if the irregular or defective service actually gave notice of the proceedings. See Shepheard v. Americas , 922 So. 2d 340 (Fla.

Foreclosure 98

Foreclosure Construction Judgment Lender 98

Jimerson Firm

MAY 19, 2021

Bank of Am. 1.540(b) ; Toler v. Ass’n , 78 So. 3d 699, 703 (Fla. 4th DCA 2012) (“[Section 702.07] and Rule 1.540 should be read together, so that, as in other civil cases, Rule 1.540 provides the avenue for relief from a judgment of foreclosure.”).

Foreclosure 52

Foreclosure Judgment Lender Bankruptcy 52

The Creditors Rights

MARCH 15, 2016

The creditor in Blendheim was HSBC Bank, which held a deed of trust lien on the debtors’ home. The Ninth Circuit in In the Matter of Blendheim , 803 F.3d 3d 477 (9 th Cir. 2015) held a chapter 20 debtor may in his chapter 13 case avoid a lien under § 506(d) even if § 1328(f) precludes him from receiving a discharge.

Debtor 40

Debtor Secured Creditor Creditors Bankruptcy 40

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.

Loans 98

Loans Collateral Lender Foreclosure 98

Jimerson Firm

JANUARY 27, 2021

If the borrower is unable to pay the full amount owed on an SBA loan after all of the collateral has been liquidated, the borrower may submit an “offer in compromise.” An offer in comprise allows borrowers to settle their debt on the SBA loan for less than the full amount owed.

Loans 96

Loans Lender Collateral Creditors 96

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.

Loans 98

Loans Collateral Foreclosure Lender 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. This article explores Section 697.07, Florida Statutes, which governs the assignment of rents. Assignment of Rents under Section 697.07, Florida Statutes.

Foreclosure 98

Foreclosure Lender Law Firms Collections 98

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.

Foreclosure 90

Foreclosure Lender Judgment Law Firms 90

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.

Foreclosure 98

Foreclosure Lender Judgment Creditors 98

Jimerson Firm

FEBRUARY 15, 2021

In Florida, mortgage foreclosure lawsuits are filed in the county where the property is located. Although Florida foreclosures are governed by Chapter 702 of the Florida Statutes , foreclosing lenders must also check the local rules of the court where the lawsuit is filed to make sure that they comply with any additional requirements.

Foreclosure 98

Foreclosure Judgment Lender Government 98

Jimerson Firm

FEBRUARY 3, 2021

In Florida, lenders may find themselves foreclosing on real property with a mobile home attached to the land. Initially, a mobile home is considered personal property (like a vehicle) and is titled by the Department of Motor Vehicles. However, a mobile home may be “retired” to the real property and become part of the real property.

Foreclosure 96

Foreclosure Collateral Lender Repossession 96

Jimerson Firm

DECEMBER 8, 2020

The Florida Supreme Court has published the proper form to use when seeking a final judgment of foreclosure: Form 1.996(a), Final Judgment of Foreclosure (8-18-20). Form 1.996(a) is incorporated in the Florida Rules of Civil Procedure under Rule 1.900.

Foreclosure 98

Foreclosure Judgment Law Firms Creditor's Rights 98

Jimerson Firm

OCTOBER 9, 2020

In 2010, the Florida Supreme Court approved an amendment to the Florida Rules of Civil Procedure regarding mortgage foreclosures and enacted new forms, such as Form 1.996(b), Motion to Cancel and Reschedule Foreclosure Sale. In 2014, the Florida Supreme Court renumbered this form to the current Form 1.996(c) (2019).

Foreclosure 98

Foreclosure Judgment Law Firms Bankruptcy 98

Jimerson Firm

AUGUST 24, 2020

Since 2013, residential foreclosure actions in Florida have been significantly shortened—from over two (2) years to possibly less than six (6) months—because of the new “fast-track” process provided in section 702.10, Florida Statutes.

Foreclosure 96

Foreclosure Judgment Law Firms Creditor's Rights 96

Jimerson Firm

JANUARY 20, 2021

In response to the mortgage foreclosure crisis, the Supreme Court of Florida established a statewide mandatory mediation program for residential mortgage foreclosures. Due to the mandatory mediation program being largely unsuccessful, the Supreme Court of Florida terminated the program on December 19, 2011. 44.102(2)(b), Fla.

Foreclosure 80

Foreclosure Lender Creditor's Rights Commercial Collection 80

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).

Foreclosure 52

Foreclosure Lender Judgment Construction 52

Jimerson Firm

MAY 26, 2021

Lenders need to be aware that borrowers and other lienholders can bring an action or proceeding to set aside, invalidate, or challenge the validity of a final judgment of foreclosure of a mortgage, even after the foreclosure sale.

Foreclosure 52

Foreclosure Lender Collateral Judgment 52

Jimerson Firm

MAY 24, 2021

In Florida, if a property owner (borrower) fails to pay its property taxes, the amount owing may become a lien on the property. If this happens, the tax lien will become superior to the lender’s mortgage lien. 197.122(a).

Collateral 52

Collateral Lender Foreclosure Judgment 52

Jimerson Firm

MAY 12, 2021

When a borrower dies, lenders are often left wondering what to do. In 2016, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule—referred to as the 2016 Mortgage Servicing Rule —that clarified, revised, and amended several provisions in the 2013 Mortgage Servicing Rules.

Collateral 52

Collateral Lender Loans Foreclosure 52

Jimerson Firm

JULY 30, 2020

Bank of America, N.A., 3d DCA 2006) (“In Florida, an acceleration clause in a mortgage confers a contract right upon the note or mortgage holder which he or she may elect to enforce upon default.”). Bank, N.A. See, e.g. , Flagship Bank of Orlando v. Bank of Montreal, 542 So. First Nat’l Bank & Tr.,

Lender 98

Lender Loans Foreclosure Judgment 98

Jimerson Firm

MARCH 12, 2021

Intercredit Bank, N.A. , Flagship Cmty Bank , 96 So. Florida courts have found that the exception to the local action rule found in Section 702.04 applies to “both contiguous and non-contiguous real properties.” 2d 863, 864 (Fla. 3d DCA 2006). For example, in Frym v. 3d 452 (Fla.

Foreclosure 98

Foreclosure Lender Collateral Loans 98

The Creditors Rights

SEPTEMBER 13, 2016

The court relied on opinions from various courts to the effect that contractual provisions restricting the right to a bankruptcy discharge and the right to file bankruptcy are unenforceable as against public policy. 1987) (“for public policy reasons, a debtor may not contract away the right to a discharge in bankruptcy.”).

Bankruptcy 40

Bankruptcy Lender Debtor Creditors 40