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.

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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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.

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?

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

Account Recovery

Compliance CFPB COVID-19 Foreclosure

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.

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.

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.

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.

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?

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.

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.

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.

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.

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.

Consumer Financial Protection Bureau Settles with Mortgage Servicer for Illegal Practices that Impeded Borrowers’ Attempts to Avoid Foreclosure

Consumer Finance

Press release Foreclosure EnforcementOn December 18, 2020, the Consumer Financial Protection Bureau issued a consent order against Seterus, Inc. and Kyanite Services, Inc.,

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?

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?

Lenders Beware: Foreclosure Judgments Can be Set Aside At Any Time Before The Sale Occurs

Jimerson Firm

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.

What Lenders Need to Know About § 702.036 and the Finality of Foreclosure Sales

Jimerson Firm

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?

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.

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?

Forbearance or 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 or Foreclosure?

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.

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. In a shocking twist, the foreclosure sale that resulted in a dramatic eviction saw the property command only $7.3 Bankruptcy can be a powerful tool for those facing foreclosure.

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?

CFPB Takes Actions to Limit COVID-19-Related Mortgage Foreclosures

Troutman Sanders

On April 5, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking (NPR) to amend Regulation Z, specifically to “prevent avoidable foreclosures” due to the COVID-19 pandemic “as the emergency federal foreclosure protections expire.”

Payments During Foreclosure: Requesting Payment, Show Cause Hearing, Payment Terms, and Eligibility

Jimerson Firm

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 are not entitled to receive payments during the pendency of a case if the foreclosure is of an “owner-occupied residence”.

South Carolina Moratorium on Evictions and Foreclosures Due to COVID-19

Burr Forman

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.

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?

Common Defenses in Mechanic’s Lien Foreclosure Cases

FFGN COLLECT NY

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. Anticipate and expect other subcontractors and those who have filed liens against the property to join in your foreclosure action.

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.

U.S. Supreme Court Holds Foreclosure Firms Conducting Nonjudicial Foreclosures Are Not Debt Collectors Under the FDCPA

Consumer Finance Watch

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.

CFPB Issues Rules to Facilitate Smooth Transition as Federal Foreclosure Protections Expire

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today finalized amendments to the federal mortgage servicing regulations to reinforce the ongoing economic recovery as the federal foreclosure moratoria are phased out and which will help protect mortgage borrowers from unwelcome surprises as they exit forbearance.

New Requirements and Stays Imposed by New York’s COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020

Consumer Finance Watch

Diana M.