News & Analysis as of August 22, 2025

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

Second Department Holds Judicial Estoppel Bars Application of FAPA

McGlinchey Stafford on 8/8/2025

On July 16, 2025, the Appellate Division, Second Department declined to apply the Foreclosure Abuse Prevention Act (FAPA) to a mortgage foreclosure commenced prior to FAPA’s enactment, pursuant to the doctrine of judicial...more

I’m Still Standing – Yeah, Yeah, Yeah: Wilmington Savings Fund Society v. Tamisi

Cadwalader, Wickersham & Taft LLP on 6/30/2025

In Wilmington Savings Fund Society v. Tamisi, the U.S. District Court for the Eastern District of New York upheld a bankruptcy court’s ruling that Wilmington lacked the necessary standing to enforce a mortgage lien, thereby...more

Bankruptcy Court Denies Stay Relief Thereby Preventing Enforcement of Deed in Escrow Transaction

Mayer Brown on 4/23/2025

In a recent opinion and order, the US Bankruptcy Court for the Southern District of Illinois denied a secured lender’s motion for relief from the automatic stay in order for the lender to record a deed being held in escrow...more

Deed in Escrow

Morrison & Foerster LLP on 6/19/2024

Is a “deed in escrow,” sometimes referred to as a “deed in a box,” enforceable in New York? While many real estate attorneys believe that it is not, a recent court ruling illustrates that the answer may not be as...more

The Importance of Loan Underwriting When Restrictions on Bankruptcy Cannot Singlehandedly Save the Day: Sutton 58 Associates LLC...

Patterson Belknap Webb & Tyler LLP on 12/29/2020

In sophisticated real estate financing transactions, most prudent lenders attempt to deter borrowers from filing for bankruptcy before loans are paid in full by providing in loan documents that such a filing constitutes an...more

Landlords Defeat Debtors Seeking COVID-19 Rent Abatements and Deferrals

Perkins Coie on 12/18/2020

Retail, restaurant, entertainment, and other industries have been devastated by COVID-19 and the resulting governmental orders either precluding or materially limiting operations. In that regard, retail bankruptcy filings...more

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