Burr Forman

AUGUST 14, 2020

On July 29, 2020, Florida Governor Ron DeSantis signed Executive Order 20-180 , which extended the moratorium on residential tenant evictions and residential mortgage foreclosures in the state through the month of August. The mortgage foreclosure and tenant eviction protections were put into place on April 2, 2020, when Governor DeSantis signed Executive Order 20-94. Commercial mortgagees may no longer claim protection from foreclosure under those orders.

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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. Bringing a Residential Foreclosure Action?

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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.

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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. Practically speaking, a commercial foreclosure action proceeds much the same as other civil actions.

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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. Bringing a Residential Foreclosure Action?

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Burr Forman

JULY 30, 2020

On March 18, 2020 the South Carolina Supreme Court issued an order suspending foreclosures and evictions until May 1. Chief Justice Beatty’s statement reads as follows: “On March 19, 2020, I ordered courts to reschedule evictions and delay foreclosure proceedings through May 1, 2020.

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Collection Industry News

AUGUST 18, 2020

Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? Due to a mortgage borrower’s payment default, Federal National Mortgage Association (“Fannie Mae”) filed a judicial foreclosure action in Oregon state court, seeking to force a sheriff’s sale of the property. That remedy, called a deficiency judgment, is often available in judicial foreclosure proceedings.

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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. The original note and the allonges must be filed with the court before the entry of any judgment of foreclosure or judgment on the note.

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Consumer Finance Watch

MARCH 21, 2019

The United States Supreme Court holds businesses conducting nonjudicial foreclosures are not “debt collectors” under the FDCPA, but lenders and foreclosure firms should take note that the Court specifically chose to leave open the question of whether businesses that conduct judicial foreclosures are “debt collectors” under the statute. . The Supreme Court limited its decision to nonjudicial foreclosures. By: Wayne Streibich , Diana M. Eng , Cheryl S.

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Troutman Sanders

OCTOBER 15, 2020

A recently filed lawsuit places renewed scrutiny on the constitutionality of the nationwide residential eviction freeze put in place by the Centers for Disease Control and Prevention (“CDC”) in response to the ongoing COVID-19 crisis. On September 18, an Amended Complaint was filed under Richard Lee Brown et al. Alex Azar et al. in the Northern District of Georgia seeking to invalidate the Order of the CDC that put a halt on evictions across the country.

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Troutman Sanders

JULY 28, 2020

Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? That remedy, called a deficiency judgment, is often available in judicial foreclosure proceedings.

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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. Instead of responding, the law firm initiated a non-judicial foreclosure. First, it is limited to non-foreclosure proceedings.

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Consumer Finance

JULY 22, 2020

On July 20, 2020, the United States District Court for the Central District of California entered a stipulated final judgment resolving the Consumer Financial Protection Bureau’s allegations against Certified Forensic Loan Auditors, LLC (CFLA) and Andrew Lehman. Press release Regulation O Mortgages Deceptive practices Enforcement

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Luftman, Heck & Associates.

APRIL 28, 2020

Ohio hasn’t formally stopped evictions and foreclosures during the COVID-19 pandemic, though your local jurisdiction might delay the Read More. Bankruptcy COVID-19 Foreclosure DefenseThere’s a lot of confusion around about whether or not you can be evicted for not paying rent during COVID-19. In Ohio, you must keep paying rent. If you fail to pay rent in April or May and are unable to catch up quickly, your landlord can still try to evict you.

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Foster Swift

APRIL 28, 2019

For many, the term “debt collection” calls to mind threatening letters and harassing, late-night phone calls. There’s no doubt that many debt collection practices involve aggressive and unseemly tactics used to collect credit card and other unpaid debts, and, as a result, Congress stepped in to curb these practices by passing the Fair Debt Collection Practices Act (“FDCPA”). Read More › Tags: Collections , Financing , U.S. Supreme Court

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Public Citizen

JULY 6, 2020

CL&P Blog Debt Collection Foreclosure Crisis Predatory Lending Student Loansby Stephen Gardner. Today, the Supreme Court held that collecting government debt by robocalling cellphones didn’t deserve special First Amendment treatment. In Barr v. American Assn. of Political Consultants, Inc.,

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Consumer Finance Watch

MARCH 15, 2019

On March 13, 2019, in a case of first impression, New York’s Appellate Division, Second Department (“Second Department”) issued a decision holding the reinstatement provision of a mortgage does not prevent the acceleration of the loan prior to entry of a foreclosure judgment. Litigation Developments MacPherson mortgage foreclosure New York Second Department statute of limitationsBy: Wayne Streibich , Diana M. Eng , Jonathan M. Robbin, and Diana M.

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Consumer Financial Services Law

FEBRUARY 18, 2019

McCarthy & Holthus LLP regarding whether non-judicial foreclosures qualify as debt collection under the FDCPA, the Sixth Circuit doubled down on its position that non-judicial foreclosures are debt collection. After being retained by Bank of America to begin non-judicial foreclosure proceedings, the law firm sent the consumer a debt validation letter. FDCPA foreclosureBy Caren Enloe and Anna Claire Turpin Just four days after the U.S.

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Consumer Financial Services Law

MARCH 15, 2019

In those cases, the Sixth Circuit concluded that foreclosure proceedings are debt collection. fka Standard Federal Bank has retained our law firm to begin foreclosure proceedings on the above referenced property. The court determined that the letter’s primary purpose was informational and to notify Tyler that foreclosure proceedings were about to start. in which the Sixth Circuit confirmed its view that foreclosure proceedings are debt collection.

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Burr Forman

AUGUST 14, 2020

On Wednesday, July 29, 2020, Florida Governor Ron DeSantis signed Executive Order 20-180 , which extended the moratorium on residential tenant evictions and residential mortgage foreclosures in the state through the month of August. The Residential Foreclosure Process, Generally.

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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).

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Debt

AUGUST 7, 2020

And if you’re looking for help avoiding eviction or foreclosure … well, good luck with that! Thursday was not a good day for Americans in need of more financial relief from COVID-19. Your second stimulus check is not in the mail.

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Nerd Wallet

AUGUST 7, 2020

Many Americans may be forced to consider moving as federal foreclosure and eviction moratoriums expire. Moving is stressful enough without throwing a pandemic into the mix.

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Debt Collection Answers

SEPTEMBER 16, 2016

My father let his home go into foreclosure and I paid to get it out of foreclosure. My father signed the deed over to me. I have been making the payments on the home for the last four yrs and have put several thousands of dollars into the home to get it back into living conditions.

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Troutman Sanders

AUGUST 18, 2020

Foreclosure Suspension Extended. Fannie Mae has now extended the suspension of foreclosure-related activities on its loans through August 31, 2020. Fannie Mae and Freddie Mac provided temporary guidance to lenders due to COVID-19 on various topics related to servicing mortgage loans.

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Burr Forman

SEPTEMBER 14, 2020

She assists clients in matters such as foreclosures, bankruptcy adversary proceedings, compliance issues and directly filed lawsuits.

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Fraser

JULY 24, 2020

The ruling stems from a lawsuit filed in Oakland County Circuit Court (the “Circuit Court”), that challenged one part of Michigan’s tax foreclosure law contained in the Michigan General Property Tax Act (the “GPTA”).

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Rocket Lawyer

JULY 24, 2020

If you have questions about evictions or foreclosures, or your general rights as a landlord or tenant in your state, ask a lawyer. . 60-day moratorium The Alaska Housing Finance Corporation was also directed to suspend foreclosures and evictions. Last updated: July 24, 2020.

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Better Credit Blog

AUGUST 19, 2020

The court will create a public record for bankruptcies, foreclosure, or failure to pay taxes. Foreclosures. Foreclosures, much like bankruptcies, are difficult to remove from your credit report. However, there are things that you can do to prevent foreclosure before it happens.

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Jimerson Firm

OCTOBER 21, 2020

If a unit owner fails to pay assessments, the association has a statutory right to file a claim of lien and subsequent lien foreclosure. In other words, a legal action to foreclosure the lien must be commenced within one (1) year of filing the claim of lien.

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Burr Forman

SEPTEMBER 4, 2020

The CDC Order comes after the limited foreclosure and eviction moratorium included in the Coronavirus Aid, Relief and Economic Security Act (the “ CARES Act ”) was allowed to expire at the end of July.

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Fraser

JULY 7, 2020

In some instances, this means the possibility of foreclosure. However, more often, loan defaults by borrowers, and the possibility of future defaults due to financial distress, are dealt with outside of foreclosure or bankruptcy. The potential for recovery via foreclosure or bankruptcy is often limited—not to mention the costs associated with such processes are often steep, and with widespread court closures, any judicial action may be curtailed.

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Consumer Financial Services Law

OCTOBER 25, 2016

Ocwen Loan Servicing, the court considered whether the mortgage servicer had an obligation to evaluate a loss mitigation application when, at the time the completed application was submitted, a foreclosure sale was scheduled to occur in two days. The foreclosure sale in this matter was originally scheduled to occur January 29, 2014. The next day, the foreclosure sale was postponed until March 14.

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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.

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Sawin & Shea

JULY 22, 2020

It stops creditors from pestering you and halts repossessions and foreclosures while you work on creating a repayment plan that’s reasonable for you to repay based on your income and assets. It’s a smart choice to file for Chapter 13 bankruptcy.

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Consumer Finance Watch

JULY 22, 2020

Specifically, the issue concerned whether the predicates were met for admissions of records into evidence under the business records exception to the hearsay rule during the course of a bench trial in a residential foreclosure case. On June 23, 2014, the originating lender, Household Finance Corporation III (“HFC”), filed a foreclosure complaint alleging a default under the note and mortgage. Wayne Streibich , Edward W. Chang , Nicole R. Topper , Anthony R. Yanez.

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Troutman Sanders

OCTOBER 13, 2020

On October 17, the Massachusetts’ Eviction and Mortgage Foreclosure Moratorium Act (EMFM Act) is set to expire. Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19).

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