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). What Does Form 1.996(a), Final Judgment of Foreclosure, Include? Plaintiffs in Hillsborough county must use the Uniform Final Judgment of Foreclosure form.

Foreclosure 98

Foreclosure Judgment Law Firms Creditor's Rights 98

Jimerson Firm

JANUARY 28, 2021

When a lender obtains a final judgment of foreclosure from the court, the mortgaged property is sold at public auction and, if bought by someone other than the foreclosing lender, the proceeds are applied to the debt owed by the delinquent borrower. However, sometimes the sale proceeds are insufficient to satisfy the full amount of debt owed.

Foreclosure 98

Foreclosure Judgment Lender Banks 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

ABI

JANUARY 19, 2024

Nationstar Mortgage LLC , the bankruptcy court held that a debtor’s marital interest in his family residence would become a “property interest” warranting an invocation of the automatic stay against a foreclosure proceeding if he obtained a divorce. [1] 8] The bankruptcy court relied upon the decision from the U.S. 17] [1] Jennings v.

Foreclosure 40

Foreclosure Debtor Bankruptcy Creditors 40

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. Form 1.996(c), Motion to Cancel and Reschedule Foreclosure Sale. In re Amendments To The Fla.

Foreclosure 98

Foreclosure Judgment Law Firms Bankruptcy 98

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]

Foreclosure 40

Foreclosure Debtor Bankruptcy Judgment 40

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. Check the Local Foreclosure Mediation Requirements. In re: Managed Mediation Program for Residential Mortgage Foreclosure Cases , AOSC11-44 (Fla.

Foreclosure 80

Foreclosure Lender Creditor's Rights Commercial Collection 80

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.

Foreclosure 98

Foreclosure Construction Judgment Lender 98

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.

Foreclosure 94

Foreclosure Lender Judgment Collateral 94

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. Conclusion.

Foreclosure 52

Foreclosure Lender Judgment Construction 52

Troutman Sanders

JULY 28, 2020

Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? The answer depends on whether the creditor attempts to recover the unpaid mortgage balance or just the property, according to the U.S. Court of Appeals for the Ninth Circuit in Barnes v.

Foreclosure 52

Foreclosure Judgment Collections Fair Debt Collection 52

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.

Foreclosure 90

Foreclosure Lender Judgment Law Firms 90

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. When Can the Foreclosure Sale Be Invalidated? Nationstar Mortg., Diaz , 227 So. 3d 726, 730 (Fla.

Foreclosure 52

Foreclosure Lender Collateral Judgment 52

Jimerson Firm

DECEMBER 15, 2020

As discussed in parts 1-4 of this series, lenders have several options prior to instituting a commercial foreclosure action. Additionally, as briefly discussed in part 5 of this series, during the foreclosure action, lenders have options to try to preserve the value of the underlying collateral and to minimize further losses.

Foreclosure 98

Foreclosure Lender Banks Collateral 98

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?

Foreclosure 52

Foreclosure Judgment Lender Bankruptcy 52

ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Under section 362 of title 11 of the United States Code (the “Bankruptcy Code”), the filing of a bankruptcy petition results in an automatic stay that generally enjoins any creditor from taking any action against a debtor or its property. [1]

Foreclosure 40

Foreclosure Bankruptcy Debtor Creditors 40

Collection Industry News

AUGUST 18, 2020

Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? The answer depends on whether the creditor attempts to recover the unpaid mortgage balance or just the property, according to the U.S. Court of Appeals for the Ninth Circuit in Barnes v.

Foreclosure 40

Foreclosure Judgment Collections Fair Debt Collection 40

FFGN COLLECT NY

FEBRUARY 2, 2021

Anyone who has a lien on the property can join in on your mechanic’s lien foreclosure action which could include the general contractor and other subcontractors/suppliers. Common Defenses and Counterclaims That Arise During Mechanic’s Lien Foreclosure Cases. Crossclaims That Arise During Foreclosure Cases.

Mechanic’s Liens 40

Mechanic’s Liens Foreclosure Judgment Collateral 40

Fraser

JUNE 25, 2020

Creditors of a bankrupt company must be aware of the various deadlines and procedures that govern the chapter 11 process in order to protect and enforce their rights. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding. First Day” Motions. Proof-of-Claim Bar Date.

Creditors 72

Creditors Bankruptcy Unsecured Creditor Debtor 72

Fraser

JULY 21, 2020

Fortunately, the Bankruptcy Code provides creditors with certain defenses they can use to ward off a preference lawsuit, and Congress recently took action that strengthens those defenses. In reality, all kinds of creditors, including those who have valid defenses to preference claims, typically get sued regardless of their defenses.

Creditors 56

Creditors Bankruptcy Debtor Construction 56

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.

Foreclosure 40

Foreclosure Law Firms Collections Debt collector 40

Sawin & Shea

DECEMBER 21, 2023

It stops: Debt collection efforts Foreclosures Wage garnishments Civil lawsuits Utility shutoffs Most other creditor actions to collect pre-bankruptcy debts The stay helps facilitate the goals of bankruptcy by preventing creditor collection efforts and allowing time for orderly debt restructuring or liquidation.

Bankruptcy 52

Bankruptcy Debtor Repossession Creditors 52

Sawin & Shea

NOVEMBER 23, 2022

Both being sued by a creditor and bankruptcy can feel like scary situations, but rest assured, filing for bankruptcy can help. Can a Creditor File a Lawsuit Against Me? Creditors can, and most likely will, take you to court if you owe a debt such as a credit card or medical bills and cannot pay. House foreclosure.

Bankruptcy 98

Bankruptcy Garnishment Foreclosure Judgment 98

Credit Corp

APRIL 26, 2024

Cancellation of debt happens when a creditor discharges or forgives a debt you haven’t paid off. The IRS notes that cancellation can occur when the creditor gives up on collecting because it’s exhausted its resources and is unable to collect. In some cases, cancellation can come about as an agreement between you and the creditor.

Repossession 59

Repossession Creditors Bankruptcy Foreclosure 59

Roths Child Law

MARCH 15, 2023

When they can't find a job that offers comparable pay, they may find themselves unable to pay their bills at all in facing foreclosure, repossession or lawsuits from creditors. Even successful professionals typically only have enough money in savings to cover their cost-of-living expenses for a month or two.

Bankruptcy 96

Bankruptcy Repossession Foreclosure Unsecured Debt 96

Jimerson Firm

NOVEMBER 13, 2020

if the collateral is likely to be acquired by SBA or the lender at the foreclosure sale, the expenses associated with the care, preservation and resale of the acquired collateral. In Florida, the lender can choose from the following methods: Deed in Lieu of Foreclosure. Lien Foreclosure. See SOP 50 57.

Loans 98

Loans Collateral Foreclosure Lender 98

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?

Chapter 13 bankruptcy 80

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Foreclosure 80

Jimerson Firm

NOVEMBER 23, 2020

if the collateral is likely to be acquired by SBA or the lender at the foreclosure sale, the expenses associated with the care, preservation and resale of the acquired collateral. 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.

Collateral 98

Collateral Loans Secured Creditor Lender 98

Sawin & Shea

MARCH 15, 2022

The process involves liquidating non-exempt assets property to pay creditors. You can surrender the property to creditors and discharge the debt associated with the investment property. Essentially, you can give the property back and walk away not owing anything additional to the creditor. Investment Property Arrearages.

Chapter 7 bankruptcy 98

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Creditors 98

Jimerson Firm

FEBRUARY 3, 2021

If the mobile home has been retired and is part of the real property, it will be included in the foreclosure. On the other hand, if the mobile home is not retired and the lender has a perfected lien on the mobile home, the lender must use replevin in addition to the foreclosure. Is the Mobile Home Retired? 319.261 (7).

Foreclosure 96

Foreclosure Collateral Lender Repossession 96

Credit Corp

JUNE 14, 2023

A charge-off is when the creditor officially writes your debt off its books as a loss. Keep in mind that a creditor writing off your unpaid debt as a loss doesn’t mean you don’t owe the debt. Your creditor may sell your charged-off debt to a collection agency for pennies on the dollar.

Foreclosure 89

Foreclosure Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy 89

FFGN COLLECT NY

DECEMBER 19, 2023

When a bond is posted, the insurance company is named as a party as a surety in the lien foreclosure case. The creditor, unfortunately, mistakenly believed they only needed to have the lien bonded. You must still extend the lien as allowed by law. Alternatively, you can foreclose on the lien. The lien was served and filed properly.

Collections 52

Collections Foreclosure Creditors 52

Credit Corp

JANUARY 5, 2021

The creditor that sent you the 1099-C also sent a copy to the IRS. The creditor must file a 1099-C the year following the calendar year when a qualifying event occurs. That just means the creditor must file the next year if they discharge or forgive a debt. This is similar to the rule for W-2s from employers.

Repossession 105

Repossession Bankruptcy Foreclosure Creditors 105

Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

Bankruptcy 52

Bankruptcy Garnishment Repossession Foreclosure 52

Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

Bankruptcy 52

Bankruptcy Garnishment Repossession Foreclosure 52

Sawin & Shea

SEPTEMBER 14, 2022

They can assist you through the bankruptcy process and can keep creditors from unlawfully harassing you. An automatic stay prevents creditors and lenders from collecting debt or collateral on protected assets. This test calculates whether an individual can repay lenders and creditors without declaring Chapter 7 bankruptcy.

Chapter 13 bankruptcy 122

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Student loans 122

Credit Corp

NOVEMBER 27, 2023

Sending a financial hardship letter to your creditor can help you salvage your credit score while you get back on your feet. A financial hardship letter is a correspondence you send to a creditor that explains why your current financial situation prevents you from making debt payments. What Is Considered Financial Hardship?

Debt Consolidation 98

Debt Consolidation Creditors Lender Loans 98