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Posts published in June 2015

Illinois Court Rejects Borrower’s Attempt to Undo Foreclosure, Holds Borrower Waived Proper Service of Process

The Illinois Appellate Court, First District, recently affirmed the dismissal of a borrower’s petition seeking to vacate a default judgment and order approving sale entered in a mortgage foreclosure action, holding that the borrower waived proper service of the foreclosure complaint. A copy of the…

Florida Court Holds No Prejudice from Improper Notice of Default/Right to Cure If Defense Not Raised Early in Foreclosure Action

The Florida Fifth District Court of Appeal recently affirmed summary judgment in favor of a mortgagee in an action challenging a notice of default in a mortgage foreclosure action that provided only 28 days to cure instead of the 30 days required under the mortgage. A…

Third Circuit Holds Not-Yet-Incurred Fees Without Clarification in Foreclosure Complaint Could Violate FDCPA

The U.S. Court of Appeals for the Third Circuit recently reversed the dismissal of a borrower’s claims under the Federal Fair Debt Collection Practices Act against a foreclosure law firm, holding that not-yet-incurred fees pled in foreclosure complaint — without conveying that the fees were estimates…

CFPB Announces Leniency for Good Faith Efforts to Comply as to TRID Implementation, But No Formal Grace Period

In response to a letter from numerous Senators, and in response to “considerable input” from other members of Congress and various trade groups, the Consumer Financial Protection Bureau today announced that it will employ leniency in relation to implementation of the TILA-RESPA Integrated Disclosure Rule. The CFPB’s…

U.S. Supreme Court Holds Chapter 7 Debtor Cannot ‘Strip Off’ Wholly Unsecured Junior Mortgage

The U.S. Supreme Court recently held that a debtor in a Chapter 7 case cannot “strip-off” or void a wholly unsecured junior mortgage under section 506(d) of the Bankruptcy Code. A copy of the opinion is available at: Link to Opinion. The debtors in the consolidated…