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

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?

Loans 98

Loans Collateral Foreclosure Lender 98

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. The property was acquired by a “person affiliated with” the foreclosing lender or the borrower.

Foreclosure 52

Foreclosure Lender Collateral Judgment 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. The loan documents also typically include one or more personal guaranties. Acceleration of the Loan. 2d 1113, 1114 (Fla.

Lender 98

Lender Loans Foreclosure Judgment 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. Orders to Show Cause Under Section 702.10, Florida Statutes. Under Section 702.10(1),

Foreclosure 90

Foreclosure Lender Judgment Law Firms 90

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

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.

Foreclosure 94

Foreclosure Lender Judgment Collateral 94