Archive for September 2016 – Page 2

Illinois App. Court (3rd Dist) Confirms Foreclosure on Mortgagors’ Tenancy by the Entirety When Only One Borrower Signed Note

The Appellate Court of Illinois, Third District, recently held that a mortgagee could foreclose on a husband and wife’s property held as tenants by the entirety despite that only the husband signed the note. In reaching its decision, the Court relied on the fact that the wife signed the mortgage with her husband, and was

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3rd Cir. Says State Law Claims Not Preempted by Bankruptcy Code’s Involuntary Case Provisions

The U.S. Court of Appeals for the Third Circuit recently held that the Bankruptcy Code does not preempt state law claims brought by non-debtors for damages related to the filing of an involuntary bankruptcy proceeding. A copy of the opinion in Rosenberg v. DVI Receivables XVII, LLC is available at:  Link to Opinion. The creditors in this action initiated

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5th Cir. Holds No Private Right of Action Under HUD Regulations for HECMs

The U.S. Court of Appeals for the Fifth Circuit recently held that HUD reverse mortgage regulations and guidelines do not give the borrower a private cause of action unless the regulations are expressly incorporated into the loan agreement. A copy of the opinion in Johnson v. World Alliance Financial Corp. et al is available at:  Link to

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Fla. App. Court (4th DCA) Holds Lis Pendens Expires at Judgment of Foreclosure

The District Court of Appeal of Florida, Fourth District, recently held that real property liens arising after a final judgment of foreclosure are not discharged by Florida’s lis pendens statute. A copy of the opinion in Ober v. Town of Lauderdale-by-the-Sea is available at:  Link to Opinion. A mortgagee recorded a lis pendens on real property as

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