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Understanding Indiana Foreclosure Laws

Sawin & Shea

When an Indiana homeowner is unable to make their mortgage payments, the lender eventually starts a foreclosure. The foreclosure process, if left to proceed, ultimately results in the house being sold off to settle all or part of the debt. How the Foreclosure Process Works in Indiana.

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CFPB Releases Final Rule to Protect Homeowners from Foreclosure, post-COVID

Account Recovery

Compliance CFPB COVID-19 Foreclosure

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Waters Seeks Foreclosure Moratorium Extension as CFPB Preps Rule

Account Recovery

In this case, protections put in place to keep renters and homeowners in their residences and not face evictions or foreclosures may continue through the end … The post Waters Seeks Foreclosure Moratorium Extension as CFPB Preps Rule appeared first on AccountsRecovery.net.

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CFPB Issues NPRM Seeking to Halt Foreclosures Until 2022

Account Recovery

The NPRM follows a compliance bulletin that the … The post CFPB Issues NPRM Seeking to Halt Foreclosures Until 2022 appeared first on AccountsRecovery.net.

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Servicer to Pay $3.2M to Settle Action with Mass. AG Over Foreclosure Failings, Excessive Collection Calls

Account Recovery

AG Over Foreclosure Failings, Excessive Collection Calls appeared first on AccountsRecovery.net. A mortgage servicer will pay $3.2

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Free $20,000 to Avoid Foreclosure!

Albuquerque Law

Are you facing foreclosure? If you are currently in court litigation due to foreclosure, you can still apply! By Elizabeth Friedenstein, Associate Attorney, Giddens + Gatton Law, P.C. New Mexico has up to $20,000 available in FREE money to help homeowners!

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Webinar: Properly Handling Mortgage Foreclosures

Jimerson Firm

On Tuesday, March 23, 2021 from 10:00 AM-11:00 AM, four of our partners will present Properly Handling Mortgage Foreclosures: Learn Solutions for Streamlining the Process, Overcoming Obstacles & Maximizing Recovery. Meadows will discuss common questions surrounding foreclosures.

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What Is Foreclosure?

Nerd Wallet

If you stop making payments on your mortgage, the property may go into foreclosure, which is when the lender takes legal ownership of your home. The article What Is Foreclosure?

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How Long Will Chapter 13 Delay Foreclosure?

Sawin & Shea

When you’re going through the process of filing Chapter 13, foreclosure cannot occur because you’re granted an automatic stay, meaning that lenders cannot pursue your debts and recover collateral, including your home. Can I Stop Foreclosure with Chapter 13 Bankruptcy?

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CFPB Proposes Mortgage Servicing Changes to Prevent Wave of COVID-19 Foreclosures

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire.

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New York Enacts Foreclosure Abuse Prevention Act

Troutman Sanders

On December 30, 2022, New York Governor Kathy Hochul signed the Foreclosure Abuse Prevention Act (FAPA) into law.

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Florida’s Fast-Track Residential Foreclosure Process

Jimerson Firm

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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New York Law Journal: New York’s Foreclosure Abuse Prevention Act: What You Need to Know

Consumer Finance Watch

Hochul signed the Foreclosure Abuse Prevention Act (Act). New York Law Journal, January 11, 2023 Diana M. Eng and Andrea M. Roberts ● On Dec. 30, 2022, Gov.

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Foreclosure Sale Violates Automatic Stay when a Debtor is a Named Party in the Foreclosure

ABI

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] 4] In January 2018, Bayview obtained a judgment in the state foreclosure action and the LLC and Fogarty were each named as defendants. [5]

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How to Get a Deficiency Judgment After a Foreclosure Sale

Jimerson Firm

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.

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New York Law Journal: Can the Foreclosure Abuse Prevention Act Survive a Constitutional Challenge?

Consumer Finance Watch

1 (2021), which, among other things, held … Continue reading → The post <i>New York Law Journal</i>: Can the Foreclosure Abuse Prevention Act Survive a Constitutional Challenge? New York Law Journal, January 6, 2023 Diana M. Eng and Andrea M.

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A Proper Final Judgment of Foreclosure: Form 1.996(a)

Jimerson Firm

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? Bringing a Residential Foreclosure Action?

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How delayed foreclosure response cost one millionaire his mansion

Roths Child Law

Once foreclosure starts, you need to act quickly or risk losing everything you have invested in your home. Unfortunately, the tech executive who owned the home had financial issues and saw his property at risk for foreclosure auction multiple times.

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Establishing Standing in a Foreclosure Proceeding

Jimerson Firm

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.

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Serving a Defendant in a Residential Foreclosure Action by Publication

Jimerson Firm

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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Bringing a Residential Foreclosure Action? You Need a Verified Complaint

Jimerson Firm

In 2010, the Florida Supreme Court amended Florida Rule of Civil Procedure 1.110(b) to include a verification provision in foreclosure complaints. The post Bringing a Residential Foreclosure Action?

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Filing a Foreclosure Lawsuit? Make Sure You Check the Local Rules

Jimerson Firm

In Florida, mortgage foreclosure lawsuits are filed in the county where the property is located. All mortgage foreclosure complaints must be accompanied with a filing fee. How Can a Foreclosure Sale be Cancelled and Rescheduled? The post Filing a Foreclosure Lawsuit?

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Banking & Financial Services Industry Webinar: Properly Handling Mortgage Foreclosures

Jimerson Firm

On Tuesday, March 23, 2021, four of our partners presented Properly Handling Mortgage Foreclosures. This webinar addressed what is new in foreclosures, including recent developments in the law since the last foreclosure crisis and how banks can utilize the law to their advantage.

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A Primer on What Lenders Need to Know About Foreclosure Appeals in Florida

Jimerson Firm

In Florida, a lender initiates a foreclosure by commencing a lawsuit in the county where the property is located. If the lender is successful, the lender will receive a final judgment of foreclosure from the court and the property will be sold at a public auction.

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Florida Commercial Mortgage Holders Receive Foreclosure Clarification

Burr Forman

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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NY State Senate Passes Foreclosure Abuse Prevention Act

Troutman Sanders

On May 3, the New York State Senate passed S5473D (Bill), which will apply immediately in all actions “in which a final judgment of foreclosure and sale has not been enforced.” ( See S5473D at Section 10.)

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How to Publish a Legal Notice of a Foreclosure Sale

Jimerson Firm

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). See Serving a Defendant in a Residential Foreclosure Action by Publication.

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Canceling and Rescheduling a Mortgage Foreclosure Sale Now Requires a Motion

Jimerson Firm

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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Lenders May Still Have to Participate in Foreclosure Mediation in Florida

Jimerson Firm

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.

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CFPB Takes Action to Prevent Avoidable Foreclosures

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB), jointly with other government agencies, announced a return to enforcement of critical protections for families and homeowners. Press release Mortgages Disasters and emergencies Real Estate Settlement Procedures Act (RESPA) Mortgage servicing

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CFPB Servicing Rule Aims to Stave Off Another Foreclosure Crisis – American Banker

Burr Forman

The CFPB’s servicing rules will prevent a large number of foreclosures,” Agnello said. “It’s The post CFPB Servicing Rule Aims to Stave Off Another Foreclosure Crisis – American Banker appeared first on Burr & Forman.

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Biden Administration Announces Mortgage Relief as Foreclosure Moratorium Comes to an End

Burr Forman

In just a few days, on July 31, 2021, the national moratoriums on residential evictions and foreclosures are set to expire. The post Biden Administration Announces Mortgage Relief as Foreclosure Moratorium Comes to an End appeared first on Burr & Forman.

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Forbearance of Foreclosure? How to Keep Your Credit and Homeownership Intact

Credit Corp

consumers are enduring—including mortgage payment forbearance of foreclosure. Mortgage forbearance is one tool to help protect homeowners from foreclosure due to temporary hardships, such as a job loss, natural disaster, or pandemic. The post Forbearance of Foreclosure?

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U.S. Foreclosure Starts Reach Pre-Pandemic Levels Nationwide

Collection Industry News

Illinois, Delaware and South Carolina had the Highest Foreclosure Rates; Completed Foreclosures Increase 28 Percent from Last Month. Foreclosure Market Report, which shows there were a total of 34,501 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 14 percent from a month ago and up 118 percent from a year ago. Foreclosure starts reach pre-pandemic levels nationwide.

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Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 5 – Commercial Foreclosures 101

Jimerson Firm

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.