Jimerson Firm

DECEMBER 30, 2020

In the event a borrower is seriously delinquent on making payments under a SBA loan, or the SBA loan is classified in liquidation status, lenders and CDCs must develop a prudent and commercially reasonable strategy to maximize their recovery on the loan. SOP 50 57 ; SOP 50 55. SOP 50 57 2; SOP 50 55.

Loans 98

Loans Collateral Lender Foreclosure 98

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.

Foreclosure 98

Foreclosure Lender Collateral Loans 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).

Foreclosure 96

Foreclosure Collateral Lender Repossession 96

Sawin & Shea

NOVEMBER 15, 2023

Unsecured debt would include things like: Medical bills Credit card bills Utility bills Back rent Personal loans At the end of the bankruptcy process, the remaining balances for these types of unsecured debts will likely be forgiven. The two most common examples of secured debt are mortgages and auto loans.

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Jimerson Firm

JULY 30, 2020

In reviewing a loan file after a default by a borrower, lenders should evaluate whether the loan includes an acceleration clause and whether the loan is secured by any personal guaranties. The loan documents also typically include one or more personal guaranties. Acceleration of the Loan. & Loan Ass’n, 538 So.

Lender 98

Lender Foreclosure Loans Banks 98

Burr Forman

JANUARY 7, 2022

He represents various financial institutions, creditors, landlords, and other parties in all aspects of loan modifications and restructuring, commercial foreclosures, enforcement of security interests and domestic and foreign judgments, Chapter 7 and 11 bankruptcies, and creditors’ rights litigation.

Bankruptcy 52

Bankruptcy Creditors Secured Creditor Manufacturing 52

Jimerson Firm

FEBRUARY 18, 2021

2] This result can be potentially disastrous to a mortgage lender that may lose the value of a first priority mortgage lien as security for the loan, and potentially have the mortgage subject to being foreclosed in a construction lien foreclosure lawsuit. & Loan Ass’n , 533 So. 2d 948, 950 (Fla. 713.132(4).

Construction 98

Construction Lender Loans Banks 98

Jimerson Firm

MAY 12, 2021

However, upon notification of the death of a borrower, lenders must “promptly identify and facilitate communication with the successor in interest of the deceased borrower with respect to the property secured by the deceased borrower’s mortgage loan.” Although not required, the confirmed successor in interest may assume the loan upon consent.

Collateral 52

Collateral Lender Loans Foreclosure 52

The Creditors Rights

JUNE 7, 2016

It owed a loan to BCL-Bridge Funding, LLC secured by real property comprising a resort on Lake Michigan. After the borrower’s default and lender’s commencement of foreclosure proceedings, the borrower’s members—with the exception of the Special Member—voted to cause the borrower to file a chapter 11 petition. 899 (Bankr.

Lender 40

Lender Bankruptcy Foreclosure Government 40

Jimerson Firm

MAY 24, 2021

Continued reading: Defaulted Loans: Florida State Laws, Federal Laws and Federal Regulations. How to Get a Deficiency Judgment After a Foreclosure Sale. If, however, a tax deed is issued, the lender will have an opportunity to redeem the property. Authors: Austin B. Calhoun , Esq. Murrin , JD Candidate.

Collateral 52

Collateral Lender Foreclosure Judgment 52