Account Recovery

FEBRUARY 8, 2024

The Consumer Financial Protection Bureau yesterday announced a settlement in an enforcement action that started nearly a decade ago which will see those involved in a foreclosure relief scam pay $12 million in penalties and restitution to consumers.

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Foreclosure 130

Nerd Wallet

JULY 16, 2021

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? Key takeaways. Taylor Getler writes for NerdWallet. Taylor Getler writes for NerdWallet. Email: tgetler@nerdwallet.com. originally appeared on NerdWallet.

Foreclosure 101

Foreclosure Lender 101

Sawin & Shea

APRIL 20, 2021

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. Here are the important things you should know about Indiana’s foreclosure laws.

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Jimerson Firm

FEBRUARY 1, 2021

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. Calhoun, A. Hunter Faulkner, Austin T. REGISTER NOW.

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Foreclosure 98

Sawin & Shea

AUGUST 24, 2022

When you’re going through the process of filing Chapter 13, foreclosure cannot occur because you’re granted an automatic stay, meaning that lenders cannot pursue your debts and recover collateral, including your home. Can I Stop Foreclosure with Chapter 13 Bankruptcy? If you’re wondering, “How long will Chapter 13 delay foreclosure?”

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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

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

Account Recovery

OCTOBER 4, 2024

The company was accused of violating consumer protection laws by attempting to collect on old debts tied to second-lien mortgages without proper communication or adherence to foreclosure-prevention measures. It will stop collecting on $10 million worth of mortgages and pay a $300,000 fine to settle the enforcement action.

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Consumer Finance

JULY 9, 2024

The CFPB proposed new rules to make it easier for homeowners to get help when they are struggling to pay their mortgage.

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Foreclosure 142

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.

Foreclosure 98

Foreclosure Judgment Lender Banks 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.

Foreclosure 98

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

Roths Child Law

APRIL 16, 2021

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. Bankruptcy can be a powerful tool for those facing foreclosure.

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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 Creditor's Rights 98

Sawin & Shea

FEBRUARY 28, 2023

There are few life events as stressful as a foreclosure. However, there are ways to prevent foreclosure, even if you can’t afford your mortgage payments. In this blog, we’ll share details about loan modification, who is eligible, how to obtain one to stop foreclosure, and how a lawyer for foreclosure can help.

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Account Recovery

MARCH 3, 2021

The number of individuals who are at least three months behind on their mortgages has increased by 250% in the past year, and 11 million renters and homeowners are at risk of losing their homes to foreclosure or eviction, according to a report issued by the Consumer Financial Protection Bureau this week.

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Account Recovery

AUGUST 3, 2021

Local governments began scrambling yesterday to try and implement protections for consumers who might be facing eviction or foreclosure as moratoriums that were put into place at the start of the COVID-19 pandemic are now expiring.

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Garnishment Government Foreclosure 246

Jimerson Firm

JUNE 28, 2021

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. Sometimes, a lender’s foreclosure lawsuit will be dismissed.

Foreclosure 90

Foreclosure Lender Judgment Banks 90

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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Foreclosure Lender Judgment Collateral 94

Jimerson Firm

JULY 7, 2020

In 2010, the Florida Supreme Court amended Florida Rule of Civil Procedure 1.110(b) to include a verification provision in foreclosure complaints. In response to the new legislation, the Florida Supreme Court created a new rule for governing foreclosure complaints, Rule 1.115 , which includes a new verification requirement.

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Foreclosure Law Firms Government Financial services 81

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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Credit Corp

FEBRUARY 23, 2021

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. Federally backed mortgages are protected against foreclosure through December 31, 2020.

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Foreclosure Loans Lender Government 80

Consumer Finance

AUGUST 20, 2024

The CFPB ordered Fay Servicing to pay a $2 million penalty for violations of mortgage servicing laws, and for violations of a 2017 agency order.

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Foreclosure 139

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.

Foreclosure 98

Foreclosure Lender Banks Collateral 98

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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Foreclosure Lender Judgment Law Firms 90

Consumer Finance

JUNE 27, 2021

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.

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Foreclosure 82

Sawin & Shea

SEPTEMBER 13, 2023

When you are struggling to pay your bills, there may come a point where you are faced with deciding between bankruptcy vs foreclosure. If you are facing foreclosure or bankruptcy, the best way to determine which choice is right for you is to speak with an experienced bankruptcy attorney. Bankruptcy vs. Foreclosure: Which is Worse?

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Foreclosure Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy 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?

Foreclosure 52

Foreclosure Lender Bankruptcy Loans 52

Troutman Sanders

MAY 10, 2022

On May 3, the New York State Senate passed S5473D (Bill), which will apply immediately in all actions “in which a final judgment of foreclosure and sale has not been enforced.” ( See S5473D at Section 10.) The Bill sets out to accomplish this by amending several statutes that govern foreclosures under New York law.

Foreclosure 59

Foreclosure Lender Judgment Loans 59

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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Albuquerque Law

NOVEMBER 8, 2022

Are you facing foreclosure? If eligible, the free money can be used to help pay for past due payments on your mortgage, utility bills, property taxes and homeowner insurance, as well as assistance with a possible decrease in the amount owed on a mortgage in order to prevent or avoid foreclosure.

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Foreclosure Bankruptcy Government 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

Troutman Sanders

JANUARY 10, 2023

On December 30, 2022, New York Governor Kathy Hochul signed the Foreclosure Abuse Prevention Act (FAPA) into law. The Engel decision allowed lenders and servicers to voluntarily pause the statute of limitations on foreclosures and reserve the right to restart the action again, as long as it was done within six years. Engel , 37 N.Y.3d

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Foreclosure Lender Judgment Loans 52

Account Recovery

AUGUST 22, 2024

The company was previously under a 2017 CFPB order addressing its illegal foreclosure practices. Notably, the company ignored the 2017 order, which was designed to protect homeowners from foreclosure while they sought mortgage assistance.

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Foreclosure 130

Account Recovery

DECEMBER 21, 2023

The Consumer Financial Protection Bureau yesterday announced it had filed suit against a developer and lender for operating an illegal land sale scheme and targeting Hispanic borrowers with loans they couldn’t afford, many of which ended up in foreclosure and allowed the company to repeat the process.

Foreclosure 147

Foreclosure Lender Loans 147

Jimerson Firm

JANUARY 9, 2023

Did you win a foreclosure sale, only to find out later that you did not get what you thought you were bargaining for? Florida Courts have held that a foreclosure sale may be vacated and set aside on equitable grounds due to surprise, accident, or mistake imposed on complainant, and/or irregularity in the conduct of the sale.

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Foreclosure Judgment Lender Financial services 52

Consumer Finance

NOVEMBER 9, 2021

Today, the Consumer Financial Protection Bureau (CFPB), jointly with other government agencies, announced a return to enforcement of critical protections for families and homeowners.

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