In December, the condo board at One57, the ultra-luxury skyscraper on Billionaires' Row, slapped the owner of a $ 50.9 million unit with a $ 64,331 bill for unpaid building fees. Six months later, the owner, Nigerian oil magnate Kola Aluko, was under investigation for alleged money laundering.
Loans are often secured by the fee title to real property owned by the borrower. But loans can also be secured by the borrower's leasehold interest in property. Foreclosure News
He joined the firm's creditors' rights practice in 1989 and offers nearly 30 years of experience in that practice area. His representation of individual and corporate clients has covered a broad range of collection and transactional scenarios, including those involving bankruptcies, foreclosures, restructures and recoveries. Foreclosure News
Reports show Maine is slow to recover from the 2008 housing crisis compared to other states, with foreclosure activity still higher than pre-recession levels. The Portland Press Herald reports there were 3,779 Maine properties in 2016 with at least one foreclosure filing, down 37 percent from Maine's peak foreclosure year of 2013, when 6,037 properties…
NOTICE IS hereby given that default has occurred in the conditions of that certain mortgage dated March 3, 1988, given to secure an original principal amount of $ 34,000.00 executed by John W. Norman and Patricia A. Norman, husband and wife, as mortgagor , to the United States of America, acting through the Rural Housing…
Last week, the Detroit Free Press published an investigation detailing what happens to properties that are foreclosed upon because of delinquent taxes. It is a complicated tale with a now-predictable ending: previously well-kept houses deteriorate into blighted eyesores. Foreclosure News
A series of cases decided by the federal district court in Chicago holds that a properly perfected secured creditor can waive its right of priority in collateral in favor of a judgment lien creditor if it fails to properly act against its collateral following a borrower's default. Typically a secured creditor attains perfected status and…
