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Lenders › Foreclosure Sales

Ballard Spahr LLP

HUD Modifies Exclusive REO Listing Period and Eliminates Exclusive Sales Period

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Recently, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-13 to revise the exclusive listing period for certain parties in connection with HUD real estate owned (REO) properties, and...more

Snell & Wilmer

Recently Enacted California Assembly Bill 2424 and Its Impact on Non-Judicial Foreclosure Procedures

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The California legislature recently passed Assembly Bill 2424, which, as more fully explained below, will have a significant and imminent impact on the nonjudicial foreclosure process of residential real estate. Existing...more

Womble Bond Dickinson

Conducting Efficient and Successful Commercial Foreclosure Sales in Georgia: The Process and Considerations for Lenders

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As a non-judicial foreclosure state, it is often thought of as being “easy” to foreclose in Georgia. However, the foreclosure process requires more than running an advertisement for four weeks and conducting the sale on the...more

Miller Starr Regalia

A New Class Of Redemptioners: The Enhanced Position Of Tenants, Prospective Owner Occupants, And Nonprofit Or Governmental...

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The borrower has no post-sale redemption right in California’s nonjudicial foreclosure process. This redemption bar has long been justified as a trade-off for the lender’s post-sale deficiency bar under Civ. Proc. Code, §...more

Morrison & Foerster LLP

Recent Second Circuit Decision Holds that Conducting a Foreclosure Sale upon a Property After a Tenant Files for Bankruptcy...

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In New York, it is a standard practice to name all tenants residing in a building when foreclosing upon the property. That is because section 1311 of the New York Real Property Actions and Proceedings Law (“RPAPL”) states...more

Cadwalader, Wickersham & Taft LLP

The ESG Factor, January 2022 - One of These Things Is Not Like the Other: New York State Court Upholds Commercial Reasonableness...

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On November 10, 2021, the owner of the State Street Financial Center in Boston, Massachusetts defaulted on its debt, consisting of a mortgage loan in the amount of $535,000,000 and three mezzanine loans in the aggregate...more

Greenberg Glusker LLP

Lessons for Health, Beauty & Wellness Companies [Part 3]: When to Consider Acquiring a Distressed Company

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In this short, three-part video series, Greenberg Glusker Partners Andrew Apfelberg and Brian Davidoff discuss important financial considerations for health, beauty and wellness companies in the wake of a pandemic. Part three...more

Troutman Pepper Locke

NY Court Blocks Mezzanine Lender’s UCC Foreclosure Sale in Light of COVID-19 Pandemic

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On June 23, the New York County Supreme Court issued a rare preliminary injunction temporarily halting a mezzanine lender’s UCC foreclosure sale of the Mark Hotel in New York City because the procedures for the foreclosure...more

Cadwalader, Wickersham & Taft LLP

The Mark Hotel Borrower Granted Injunction Delaying Mezzanine Lender’s Foreclosure Sale

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On June 23, 2020, the Supreme Court of the State of New York, County of New York: Commercial Division (the “Court”) issued a preliminary injunction in favor of the plaintiff D2Mark LLC (the “Borrower”) enjoining the...more

Patton Sullivan Brodehl LLP

A Notice of Trustee’s Sale Does Not Necessarily “Disturb Possession”

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Flashback: Five years ago, Money and Dirt covered the Salazar v. Thomas opinion from California’s Fifth District Court of Appeal holding that a Notice of Default does not “disturb possession” sufficiently to start the...more

Rosenberg Martin Greenberg LLP

"No Harm, No Foul:” Suit to Set Aside Foreclosure Sale for Failure to Comply With Deed of Trust Doomed By Failure to Allege That...

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The opinion of the Virginia Supreme Court of Appeals in Young-Allen v. Bank of America provides both hope for lenders frustrated by borrowers who delay inevitable foreclosure sales by requiring the lender to comply with every...more

Patton Sullivan Brodehl LLP

CC&R “Subordination” Provisions and Lien Priority

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In California, priority between competing liens on the same real property is usually determined by the “first in time, first in right” rule. Under that rule, different liens on the same property have priority according to...more

White and Williams LLP

Mortgage and Pledge of Equity — Clogging the Equity of Redemption?

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A recent decision by the Supreme Court of New York, New York County, addressed the issue of whether the borrower's equity of redemption was being impermissibly "clogged" by a foreclosing lender. The case, HH Cincinnati...more

Ward and Smith, P.A.

Federal Tax Liens In Foreclosure Proceedings

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Henkel v. Triangle Homes is a North Carolina Court of Appeals case with dueling tax foreclosure proceedings involving the same property. One foreclosure proceeding was for unpaid municipal taxes and the other for unpaid...more

Eversheds Sutherland (US) LLP

If At First You Don’t Succeed - Georgia Supreme Court Upholds Waiver of Confirmation After Prior Confirmation Action Denied

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On April 17, 2017, the Supreme Court of Georgia found that defendant guarantors had waived the statutory protections under the Georgia foreclosure confirmation statute, and the lender could pursue a deficiency judgment...more

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