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. Request an Order to Show Cause. 1)(a)(9), Fla. 1)(a)(9), Fla. 1)(a)(3), Fla. 1)(a)(5), Fla.

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Foreclosure Judgment Law Firms Creditor's Rights 96

Jimerson Firm

JANUARY 28, 2021

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. However, sometimes the sale proceeds are insufficient to satisfy the full amount of debt owed.

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Foreclosure Judgment Lender Banks 98

Jimerson Firm

DECEMBER 8, 2020

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? Plaintiffs in Hillsborough county must use the Uniform Final Judgment of Foreclosure form.

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Foreclosure Judgment Law Firms Creditor's Rights 98

Jimerson Firm

FEBRUARY 15, 2021

In Florida, mortgage foreclosure lawsuits are filed in the county where the property is located. Although Florida foreclosures are governed by Chapter 702 of the Florida Statutes , foreclosing lenders must also check the local rules of the court where the lawsuit is filed to make sure that they comply with any additional requirements.

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Foreclosure Judgment Lender Creditor's Rights 98

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. Form 1.996(c), Motion to Cancel and Reschedule Foreclosure Sale. In re Amendments To The Fla.

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Foreclosure Judgment Law Firms Bankruptcy 98

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. 49.08, Fla. 1)(c), Fla. 702.035, Fla.

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Foreclosure Construction Judgment Lender 98

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. 702.015(4) , Fla. York, 903 So.

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Jimerson Firm

JANUARY 20, 2021

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. In re: Managed Mediation Program for Residential Mortgage Foreclosure Cases , AOSC11-44 (Fla.

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Foreclosure Lender Creditor's Rights Commercial Collection 80

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

Account Recovery

FEBRUARY 9, 2024

Collector Facing FDCPA Suit Over BK Filing, Not Making SOL Disclosure Judge Dismisses FDCPA Suit Over Collection Suit Filed in Wrong Jurisdiction CFFP Reaches $12M Settlement With Foreclosure Relief Scammers, 10 Years After Filing Lawsuit FCC Bans Use of AI in Robocalls 2024 Officers & Directors Elected to Lead Receivables Management Association (..)

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Foreclosure Collections 130

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. 1), directs the defendants to show cause why a foreclosure judgment should not be entered.

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Account Recovery

FEBRUARY 24, 2025

Appeals Court Reverses Arbitration Ruling for Defendant in Collection Case A New Jersey Appeals Court has overturned a lower courts ruling in favor of a defendant that had granted arbitration in a collection lawsuit more than a year after the complaint had been filed and litigated. More details here.

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Debt Buying Debt collector Credit Unions Credit Unions 130

Sawin & Shea

DECEMBER 7, 2023

With the COVID-19 foreclosure moratoriums over, housing foreclosures are once again on the rise nationally. In fact, in September of 2023, we saw home foreclosures on the rise by a whopping 18.4% Foreclosures in Indianapolis have also been increasingly more common. from this time last year.

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Foreclosure Chapter 13 bankruptcy Lender Bankruptcy 52

Troutman Sanders

JULY 28, 2020

Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? The borrower then filed an action in federal court, claiming that an assortment of alleged misrepresentations in the foreclosure case constituted violations of the FDCPA.

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Foreclosure Judgment Collections Fair Debt Collection 52

Credit Corp

FEBRUARY 9, 2024

MA non-judicial mortgage foreclosure can take about 120 days, or four months, to complete. Judicial foreclosures vary depending on your state. A nonjudicial mortgage foreclosure can take about 120 days, or four months, to complete. Judicial foreclosures vary depending on your state. What Is Foreclosure?

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Foreclosure Lender Bankruptcy Loans 52

Roths Child Law

MAY 13, 2024

When homeowners face the daunting prospect of foreclosure, understanding the defensive options available can potentially help them preserve their homes and financial stability. For example, two common types of bankruptcy , Chapter 7 and Chapter 13, offer different benefits and drawbacks in the context of foreclosure.

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Foreclosure Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

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. Pennymac Holdings, LLC, 199 So.

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Foreclosure Lender Judgment Banks 52

Roths Child Law

OCTOBER 17, 2023

Homeownership has traditionally been considered a cornerstone of the American dream, but financial setbacks can sometimes threaten this dream, even for those who are well compensated, fiscally responsible and generally considered low-risk for foreclosure. This legal provision stops most collection efforts, including foreclosure sales.

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Chapter 13 bankruptcy Foreclosure Bankruptcy Collections 52

FFGN COLLECT NY

MARCH 15, 2022

It’s important you verify the information contained in a debt collection affidavit before you sign it. An affidavit is sworn testimony used to support your debt collection case. Chase was one of 13 financial institution censured for robo-signing documents in support of debt collection suits and foreclosure.

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Collections Judgment Foreclosure Financial Institution 98

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. Conclusion.

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Foreclosure Lender Judgment Construction 52

Sawin & Shea

SEPTEMBER 6, 2023

If you’re considering filing for bankruptcy, you’re not alone; roughly 375,000 people filed for bankruptcy in 2022, and home foreclosure filings rose 115% in 2022 over the number of foreclosures in 2021. The good news is that homeowners can get back on their feet and keep their homes with various options to stop foreclosure.

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Foreclosure Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy 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. The answer to the question of whether hotel revenues constitute rent under Section 697.07, Florida Statutes, may depend upon the district in which the foreclosure action is pending.

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Foreclosure Lender Law Firms Collections 98

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 holding defaulted loans will first need to consider relevant Florida laws prior to beginning any foreclosure proceedings. Foreclosures are a state law proceeding first and foremost. Busey Bank, N.A.,

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Loans Foreclosure Lender Accrued Interest 98

Jimerson Firm

AUGUST 19, 2021

While both bills affect the laws governing Florida condominium and homeowners’ associations, Senate Bill 56, specifically, changed the collection and notification procedures for these associations. The association intents to foreclose the lien and collect the unpaid amount within 45 days of this letter being provided to you.

Homeowner Association Collections 98

Homeowner Association Collections Collections Foreclosure Government 98

Jimerson Firm

MAY 26, 2021

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? Nationstar Mortg., Diaz , 227 So. 3d 726, 730 (Fla.

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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. Unlike other states, these orders did not limit the application to residential evictions and foreclosures and therefore, whether intentionally or not, applied to commercial evictions and foreclosures as well.

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Foreclosure Collections 52

Jimerson Firm

MAY 19, 2021

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. Why Would a Final Judgment of Foreclosure be Set Aside?

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Foreclosure Judgment Lender Bankruptcy 52

Jimerson Firm

MARCH 12, 2021

In Florida, foreclosure actions must be brought in the county where the land is located. However, lenders often wonder where they should file the foreclosure action if the loan is secured by mortgaged land situated in different counties. allows the lender to bring a single foreclosure action on all mortgages in just one county.

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Foreclosure Lender Collateral Loans 98

Troutman Sanders

FEBRUARY 26, 2021

SN Servicing, LLC , a district court in the Ninth Circuit denied a defendant’s motion for summary judgment regarding the plaintiffs’ allegations that the defendant violated the Fair Debt Collection Practices Act and Oregon Unlawful Debt Collection Practices Act in its mortgage servicing activity.

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Foreclosure Judgment Collateral Fair Debt Collection 52

The Kaplan Group

JULY 9, 2024

Ranking of financial district risk of loan defaults We created a score to evaluate which financial districts are more at risk of foreclosure due to the struggle to fill empty offices. Methodology Data for this study was collected from Crexi, focusing on office rentals in the main financial districts in the U.S.

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Foreclosure Bankruptcy Loans Financial services 52

Nerd Wallet

JULY 9, 2021

The automatic stay temporarily halts most judgments, collection activities, foreclosures and repossessions of the consumer’s property, which is known as the bankruptcy estate. The moment a consumer files for bankruptcy, such as Chapter 7 or Chapter 13, an automatic stay typically takes effect immediately. What the automatic stay.

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Bankruptcy Repossession Foreclosure Judgment 105

Troutman Sanders

MARCH 30, 2023

A federal district court in the Middle District of Florida recently dismissed a pro se plaintiff’s Fair Debt Collection Practices Act (FDCPA) and Florida Consumer Collection Practices Act (FCCPA) action as time-barred because the defendants filed the foreclosure that was the basis for the plaintiff’s claims over four years prior.

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Foreclosure Fair Debt Collection Consumer Collections Collections 52

Jimerson Firm

FEBRUARY 10, 2022

At the same time, however, the account owner/debtor is still responsible for the balance, and the lender/creditor can still make an effort to collect what is owed, with obvious exceptions being discharged or dischargeable bankruptcy filings. Collecting Debts After 1099-C Issuance. Charging Off” Uncollectable Debt. 1.6050P-1(b)(2)(i).

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Consumer Finance

APRIL 25, 2023

Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations.

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Fair Debt Collection Debt collector Collections Foreclosure 113

Jimerson Firm

JANUARY 26, 2021

In Florida, lenders typically obtain an “assignment of rents” if the property produces income by collecting rent, such as an apartment complex, rental home, rental space, or office building. An “assignment of rents” allows the lender to collect the rent payments, if the borrower defaults on their loan payments. 3d 932, 934 (Fla.

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Foreclosure Lender Loans Banks 96

Jimerson Firm

NOVEMBER 13, 2020

if the collateral is likely to be acquired by SBA or the lender at the foreclosure sale, the expenses associated with the care, preservation and resale of the acquired collateral. In Florida, the lender can choose from the following methods: Deed in Lieu of Foreclosure. Lien Foreclosure. See SOP 50 57.

Loans 98

Loans Collateral Foreclosure Lender 98

Jimerson Firm

FEBRUARY 3, 2021

If the mobile home has been retired and is part of the real property, it will be included in the foreclosure. On the other hand, if the mobile home is not retired and the lender has a perfected lien on the mobile home, the lender must use replevin in addition to the foreclosure. Is the Mobile Home Retired? 319.261 (7).

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