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. Services, Inc. Subordinate Liens.

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Jimerson Firm

JUNE 30, 2021

When a borrower defaults on a mortgage, lenders will likely execute their right to foreclose on the property by filing a lawsuit. However, lenders are not always the successful party in the foreclosure and, to the disappointment of the lender, the lawsuit may be dismissed. Greymar Associates , 882 So. 2d 1004 (Fla.

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Lender Foreclosure Banks Judgment 96

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.

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Foreclosure Lender Judgment Collateral 94

Troutman Sanders

MARCH 1, 2023

In 2017, the Lender moved for summary judgment against Mr. Kessler on its foreclosure complaint. The decision is an important and welcomed relief for many lenders and servicers within the state. The Court of Appeals has now clarified issues related to the 90-day notice for lenders and servicers to follow.

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

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Foreclosure Lender Judgment Law Firms 90

Jimerson Firm

JANUARY 9, 2023

Did you win a foreclosure sale, only to find out later that you did not get what you thought you were bargaining for? Florida Courts have held that a foreclosure sale may be vacated and set aside on equitable grounds due to surprise, accident, or mistake imposed on complainant, and/or irregularity in the conduct of the sale.

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Jimerson Firm

MAY 17, 2021

In order to maintain a foreclosure action against a borrower, lenders must ensure they can establish “standing”. Standing is a fundamental requirement for a foreclosure, as lenders who desire to initiate a foreclosure proceeding are required to have standing. What is Standing? Craven-Lazarus v. 3d 1029, 1030 (Fla.

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Foreclosure Lender Judgment Banks 52

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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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.

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Foreclosure Lender Banks Collateral 98

Jimerson Firm

SEPTEMBER 28, 2020

A residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court. The defendants may be served by personal service or substituted service. The actual costs charged by the newspaper may be charged as costs in the foreclosure action. 49.08, Fla. 1)(c), Fla.

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Foreclosure Construction Judgment Lender 98

Jimerson Firm

MAY 21, 2021

Except in cases of an owner-occupied residence, lenders are entitled under Florida law to receive payments during the pendency of a foreclosure proceeding. Lenders must pay careful attention to this Florida Statute to ensure they preserve their rights and properly deploy this valuable litigation tool. 2), Florida Statutes.

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Better Credit Blog

FEBRUARY 4, 2021

Are you concerned about a collections entry from Delivery Financial Services? Read on to learn more about Delivery Financial Services and how to get them deleted from your report. About Delivery Financial Services. How Delivery Financial Services Works. Ask Lex Law for Help.

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Financial services Debt collector Collection Agencies Collections Agency 69

Jimerson Firm

JULY 7, 2020

In 2010, the Florida Supreme Court amended Florida Rule of Civil Procedure 1.110(b) to include a verification provision in foreclosure complaints. In response to the new legislation, the Florida Supreme Court created a new rule for governing foreclosure complaints, Rule 1.115 , which includes a new verification requirement.

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Foreclosure Law Firms Government Financial services 81

Jimerson Firm

FEBRUARY 10, 2022

When account owners have an account that reflects a negative balance, the lender is faced with a myriad of options and obligations with regard to the pursuit of that debt. Lenders that charge off a debt trigger issuance of the 1099-C when their defined policy leads the lender to discontinue collection activity and discharge a debt.

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Jimerson Firm

FEBRUARY 2, 2021

If a borrower defaults on a SBA loan, the lender or CDC must assess the environmental risk of contamination before conducting any liquidation action that could result in a loss, or otherwise increase the risk of loss, due to the actual or alleged presence of contamination. SOP 50 10 5(E), Appendix 2. SOP 50 57 2 ; SOP 50 55.

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Lender Collateral Loans Foreclosure 76

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.

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Troutman Sanders

AUGUST 9, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link].

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Financial services Student loans Student Loans Foreclosure 52

Better Credit Blog

FEBRUARY 5, 2021

If you’re wondering what BCA Financial Services is and why it’s on your credit report, the guide below is for you. With all of life’s financial obligations and the busyness of day to day life, it can be all too easy to let a payment slip through the cracks. About BCA Financial Services. BCA Financial Services, Inc.

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Financial services Collection Agencies Collections Agency Debt collector 60

Jimerson Firm

JULY 20, 2020

In 2013, the Legislature enacted Section 702.015 , Florida Statutes, which sets forth new pleading requirements for residential foreclosure actions. At that time, the Legislature requested the Florida Supreme Court to amend the Florida Rules of Civil Procedure to provide expedited foreclosure proceedings in conformity with Section 702.015.

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Foreclosure Banks Judgment Financial services 52

Troutman Sanders

SEPTEMBER 7, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. If finalized, this rule would require lenders to disclose information about their lending to small businesses.

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Financial services Student loans Student Loans Foreclosure 52

Collection Industry News

MAY 18, 2021

2547 was sponsored by House Financial Services Committee Chairwoman Rep. While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. The bill, H.R. Maxine Waters (D-Calif.),

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Lender Foreclosure Collections Debt collector 40

Troutman Sanders

OCTOBER 4, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. Among other provisions, S.B. For more information, click here and here. million or less.

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Financial services Financial Institution Foreclosure Student loans 52

True Accord

MARCH 31, 2022

The four key trends we’re studying are: resumed foreclosure activity, extensive medical bills, the end of child tax credits and historically high inflation. Add these all together and the financial outlook for consumers, especially those in debt, is scary. And lenders are happy to lend. million U.S.

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Lender Personal loans Foreclosure Loans 58

Troutman Sanders

MAY 9, 2023

The proposed rule would require lenders to assess a borrower’s ability to repay a PACE loan and would provide a framework for how these loans will be treated under the Truth in Lending Act. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.

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Financial services Student loans Student Loans Loans 52

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 must ensure compliance with all relevant State and Federal laws and regulations to preserve their remedies for recovery. Foreclosures are a state law proceeding first and foremost.

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Loans Foreclosure Lender Accrued Interest 98

Troutman Sanders

OCTOBER 11, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link].

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Financial services Loans Lender Foreclosure 52

Troutman Sanders

OCTOBER 19, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. For more information, click here. On October 6, California Governor Gavin Newsom signed A.B.

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Financial services Student loans Student Loans Debt collector 52

Troutman Sanders

JULY 7, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. The licensed entities include vehicle finance companies, traditional installment lenders, and mortgage lenders.

Financial services 52

Financial services Financial Institution Student loans Student Loans 52

Troutman Sanders

MARCH 29, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link].

Financial services 52

Financial services Fair Debt Collection Lender Foreclosure 52

Troutman Sanders

NOVEMBER 30, 2020

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. These preliminary investigations indicate that some lenders could face civil and/or criminal charges relating to the PPP.

Financial services 52

Financial services Foreclosure Student loans Student Loans 52

Troutman Sanders

JUNE 7, 2022

On May 26, North Carolina Attorney General Josh Stein issued a press release, indicating his office had won a permanent ban against an individual and his businesses from offering debt relief, debt settlement, foreclosure assistance, and mortgage loan modification services to North Carolinians. For more information, click here.

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Financial services Education Trade Loans 52

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 purchaser at the junior foreclosure sale became the titleholder subject to the first/senior mortgage.

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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.

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Loans Collateral Foreclosure Lender 98

Jimerson Firm

JANUARY 22, 2021

This series has provided a high-level overview of various options and considerations available to lenders during the current uncertainty surrounding lending in the hospitality industry. The first-half of this series evaluated considerations for lenders faced with borrowers who were unable to meet their mortgage and loan obligations.

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Foreclosure Lender Loans Collateral 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.

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Foreclosure Collateral Lender Repossession 96

Troutman Sanders

OCTOBER 26, 2020

On Friday, October 23, Ohio Senate President, Larry Obhof, and Governor Mike DeWine announced the creation of the “Home Relief” program to assist Ohioans facing evictions, foreclosures, and water service shut-offs during the current COVID-19 pandemic. For more information, click here. For more information, click here.

Financial services 52

Financial services Financial Institution Foreclosure Banks 52

Troutman Sanders

JANUARY 11, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. The PPP will open to all participating lenders shortly thereafter. You may access this interactive tool at [link].

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Financial services Foreclosure Collection Agencies Collections Agency 52