Use of racketeering statute against singer R. Kelly, whose trial starts this week, may be ‘uncharted territory’
ABA Journal Daily News
Statute of Limitations on Second Mortgage Debt
Second mortgage lenders have a distinct disadvantage in the face of default. If you don't make your second mortgage payments, the second lienholder must wait to see how much money the first lienholder gets before the second lienholder receives anything. Foreclosure News
5th Circuit Holds Bankruptcy Stay Tolls Statute of Limitations
On October 17, 2018, the Fifth Circuit held that a potential transfer of the deed of trust does not prove who is the owner of a note and that a bankruptcy stay does toll deadlines for a Texas foreclosure action and that such tolling period must include every day that an entity is prevented from […]
11th Circuit Held that HECM Statute Does Not Disallow Lender’s Contractual Right to Foreclose
The Court of Appeals for the 11th Circuit affirmed the district court's decision when it held that the HECM statute, 12 U.S.C. 1715z-20, addressed only HUD's authority to insure reverse mortgage loans and not a lender's contractual right to foreclose. Under the HECM statute, the Secretary of HUD is authorized to establish a mortgage-insurance program […]
New York is Split on Whether Notice of Default Letters Trigger the Statute of Limitations
In Milone v. US Bank, N.A. , a New York intermediate appellate court held that a letter to a borrower stating that the failure to cure a mortgage loan default “will result in acceleration” does not start the clock on the statute of limitations to foreclose and recover the entire debt. Foreclosure News
Florida Statute of Limitations Update: Third DCA Certifies Conflict…
On August 1, 2018, the Third District Court of Appeal found that a foreclosure judgment can include all amounts due and owing regardless of the initial date of default. In Eduardo Gonzalez and Rosa Gonzalez v. Foreclosure News
Ohio Bankruptcy Court Strikes Down Mortgage, Imposes Six-Year Statute of Limitations
Much has been said recently in Ohio law concerning the enforcement of notes and foreclosures on mortgages. In summary, the plaintiff must be the holder of the note and mortgage with the right of enforcement of both instruments in order to bring a meritorious foreclosure action in Ohio.1 Ohio law has two distinct statutes of […]
Judge says statute used to charge local crime blogger is unconstitutionally vague
ABA Journal Daily News
Chris Lazarini Examines Statute of Limitations Related to Breach of Fiduciary Duty
Bass, Berry & Sims attorney Chris Lazarini examined a case of alleged breach of trust and breach of fiduciary duty against a bank acting as the indenture trustee related to a foreclosure action on defaulted mortgage revenue bonds. The trial court granted summary judgment for the bank, which was later affirmed, since under Ohio law, […]
HOA Super-Priority Lien Law Preempted by Federal Statute
Given the significant role Fannie Mae and Freddie Mac have in the national housing market, it is unsurprising that both have become embroiled in the Nevada HOA super-priority lien litigation. Since July 2008 well before the Nevada Supreme Court held that an HOA's foreclosure on its super-priority lien could extinguish a first deed of trust […]