A recent decision from the North Carolina Court of Appeals illustrates the wrong way to refinance a loan.
In Midfirst Bank v. Brown, a refinancing lender cancelled a deed of trust that should have been assigned to it and...more
Creditors know that a bankruptcy petition automatically halts efforts to collect pre-petition debts from the debtor outside of bankruptcy.
The "automatic stay" provides fundamental protection to debtors, mandating a full...more
Five years ago, the General Assembly amended the foreclosure statute to prohibit an attorney who serves as trustee or substitute trustee from representing the noteholder or the borrower during a foreclosure proceeding. ...more
For several years, the United States Small Business Administration (SBA) has experienced continuous growth with its flagship 7(a) and 504 business loan programs. For fiscal year 2018, the SBA made over $24 billion in loans...more
9/26/2019
/ Arms Length Transactions ,
Best Practices ,
Deed of Trust ,
Deed-in-Lieu of Foreclosure ,
Federal Contractors ,
Foreclosure ,
Government Shutdown ,
Liquidation ,
Non-Judicial Foreclosures ,
Property Owners ,
SBA ,
Small Business ,
Small Business Loans ,
Standard Operating Procedures
If a Clerk of Court authorizes a foreclosure sale and the trustee sells the property, can a borrower or other aggrieved party later sue to nullify the foreclosure sale or recover damages caused by the foreclosure?
In the...more
In my last article, I discussed whether inconsistent dates on a promissory note and deed of trust could cause problems in foreclosure.
But what if you can't even find the original promissory note? Perhaps it was...more
Consider this scenario: You loan money to a borrower.
You intend to secure the loan with a deed of trust encumbering real property. Your borrower signs a promissory note dated November 7, 2006. But your deed of trust is...more
On August 30, 2017, an amendment to North Carolina’s foreclosure statutes took immediate effect. The amended statute, Section 45-10, concerns substitute trustees under a deed of trust. As amended, Section 45-10 now prohibits...more