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

Jimerson Firm

MARCH 12, 2021

However, lenders often wonder where they should file the foreclosure action if the loan is secured by mortgaged land situated in different counties. 2d DCA 2012) , the loan was secured by two mortgages: one in Pinellas County and the other in Hillsborough County. This is typically referred to as the “local action rule.” 3d 452 (Fla.

Foreclosure 98

Foreclosure Lender Collateral Loans 98

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). Proper Payments.

Construction 98

Construction Lender Loans Banks 98

Consumer Financial Services Law

AUGUST 30, 2016

Professional firms in all industries saw a new “normal” come to life and creditors rights attorneys and their firms were no exception. Mark is a one of NARCA’s speakers on many of the creditor’s rights issues impacting NARCA members. NARCA's values are: Professional, Ethical, Responsible.

Subrogation 40

Subrogation Creditor's Rights Creditors Student Loans 40

Jimerson Firm

NOVEMBER 16, 2020

When a borrower applies for a loan, most lenders require the borrower to pledge an asset as security for the repayment of the loan, i.e. collateral. In the event the borrower defaults, usually by failing to make loan payments, a secured creditor has a right to take possession of the collateral. 679.609, Fla.

Secured Creditor 69

Secured Creditor Collateral Repossession Creditors 69

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

JANUARY 14, 2021

If the borrower fails to make the required payments or post a bond for the balance on the loan, the lender will be entitled to possession of the premises. Alternatively, if the borrower can make the loan payments, but refuses nonetheless, an order to show cause may lead to the borrower making payments during the foreclosure action.

Foreclosure 90

Foreclosure Lender Judgment Law Firms 90

Jimerson Firm

JULY 15, 2020

& Loan Ass’n v. & Loan Ass’n v. Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement. See Coast Fed. DeLoach , 362 So. 2d 982, 984 (Fla. 2d DCA 1978). See Coast Fed. DeLoach , 362 So. 2d 982, 984 (Fla. 2d DCA 1978).

Judgment 86

Judgment Law Firms Creditor's Rights Loans 86

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

DECEMBER 15, 2020

& Loan Ass’n, 516 So. Carolina Portland Cement Co. Baumgartner, 128 So. 241, 247 (1930). Nevertheless, trial courts have been afforded broad discretion to appoint a receiver. See Colley v. 2d 344, 345 (Fla. 1st DCA 1987).

Foreclosure 98

Foreclosure Lender Banks Collateral 98

Consumer Financial Services Law

DECEMBER 29, 2016

Also, on an auto loan, there could be more than one missed payment, followed by a repossession, followed by a sale of the collateral and establishment of a deficiency balance. He concentrates his practice in creditors' rights with an emphasis on debt collection, judgment enforcement, and commercial litigation.

Collections 40

Collections Judgment Enforcement Creditor's Rights Creditors 40

The Creditors Rights

MAY 24, 2016

The debtor’s argument was that the default was “cured” because it was paid with a new loan; therefore, under the Ninth Circuit’s decision in Great Western Bank & Trust v. The bankruptcy court agreed with the debtor, concluding the new loan under the plan “paid” the debt within the meaning of Entz-White , and confirmed the plan.

Bankruptcy 40

Bankruptcy Debtor Creditors Collateral 40

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

Jimerson Firm

OCTOBER 22, 2020

& Loan Ass’n of Panama City, 516 So. Additionally, lenders/servicers can request the court to appoint a receiver. Barnett Bank of Alachua Cty., Steinberg, 632 So. 2d 233, 234 (Fla. 1st DCA 1994) (discussing the appointment of receivers); Colley v. 2d 344, 345 (Fla.

Foreclosure 94

Foreclosure Lender Judgment Collateral 94

Jimerson Firm

FEBRUARY 3, 2021

The lawsuit must be brought in a court of competent jurisdiction based on the value of the mobile home (not the amount alleged that is unpaid on the loan). The complaint is filed in in any county where the property is located, where the contract was signed, where the defendant resides, or where the cause of action accrued.

Foreclosure 96

Foreclosure Collateral Lender Repossession 96

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. This harsh lesson was learned by the lender in In re: Lake Michigan Beach Pottawattamie Resort, LLC , 547 B.R. 899 (Bankr. In Lake Michigan Beach , the debtor was organized under the laws of the state of Michigan.

Lender 40

Lender Bankruptcy Foreclosure Government 40

Jimerson Firm

MAY 26, 2021

The statute defines a “person affiliated with the foreclosing lender” as: (a) the foreclosing lender or any loan servicer for the loan being foreclosed; (b) any past or present owner or holder of the loan being foreclosed; (c) any maintenance company, holding company, foreclosure services company, or law firm under contract to any entity listed in (..)

Foreclosure 52

Foreclosure Lender Collateral Judgment 52

Jimerson Firm

MAY 25, 2021

Lenders may charge the actual costs of the legal publication to the loan in the foreclosure action. To properly serve a defendant by constructive service, foreclosing lenders must publish the notice of action in a newspaper once a week for two consecutive weeks. Who Covers the Cost of Publication. Conclusion.

Foreclosure 52

Foreclosure Lender Judgment Construction 52

Jimerson Firm

MAY 24, 2021

Continued reading: Defaulted Loans: Florida State Laws, Federal Laws and Federal Regulations. 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. How to Get a Deficiency Judgment After a Foreclosure Sale.

Collateral 52

Collateral Lender Foreclosure Judgment 52