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Florida’s Construction Lien Law found in Chapter 713, Florida Statutes, may seem like an area of the law that is only relevant to contractors and property owners. However, there are important aspects of the Construction Lien Law that can directly affect the rights and obligations of lenders in numerous ways. Specifically, under Fla.
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. Pennymac Holdings, LLC, 199 So.
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.
Cohen LLC, our experienced commercial collections attorneys often help architects and other parties involved in real estate development pursue payment through mechanic’s liens. We have nearly 50 years of combined experience representing businesses in debt collection. What if construction has not started?
McCarthy & Holthus, LLP, holding that that business engaged solely in non-judicial foreclosure activities are generally exempt from the Fair Debt Collection Practices Act, 15 U.S.C. It is unclear what impact the decision on the debt collection and foreclosure industry beyond the limited facts of the case, but as in Henson v.
The policy behind preference actions is that they prevent aggressive collection action against a debtor that might force a debtor into bankruptcy, and they also help ensure equal treatment of creditor claims. That’s how the system is supposed to work. Walton, Jr.’s
An “automatic stay” is imposed as of the petition date, which prevents creditors from taking any further action, such as pursuing collection activity, related to a pre-petition debt. The debtor is required to serve all known creditors with notice of the commencement of the chapter 11 case. Walton, Jr.’s
In the areas of banking, commercial, construction and real estate litigation, he represents lenders, contractors and owners on construction-related claims, and lenders and borrowers in commercial and residential foreclosure matters, large loan defaults and collections, lien priority disputes, and title insurance company liability.
The Senate Banking Committee questioned Chopra on the CFPB’s oversight of financial institutions providing benefits under the Servicemembers Civil Relief Act (SCRA), medical debt collection, so-called “junk fees,” and the increasing popularity of buy now, pay later (BNPL) products. For more information, click here.
A residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court. If a defendant cannot be located, then service may be effected by constructive service, i.e., service by publication, which is governed by Chapter 49, Florida Statutes. 49.08, Fla. 1)(c), Fla.
After a full year of commercial tenants and commercial mortgagors relying on Governor Cuomo’s executive orders requiring moratoriums on evictions and foreclosures as the main source of protection, this Act provides certain relief measures to protect eligible small businesses suffering from COVID-19 hardships. field, or. (ii)
Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.
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. 248, which limits a collection agency’s ability to collect on medical debt. You may access this interactive tool at [link].
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