North Carolina Power of Sale Foreclosure Procedure

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "North Carolina Power of Sale Foreclosure Procedure"

Transcription

1 North Carolina Power of Sale Foreclosure Procedure

2 Pre-Foreclosure Notice G.S and G.S require that the servicer/noteholder mail a preforeclosure notice to the borrower s last known address at least forty-five (45) days before filing a foreclosure action. Pursuant to G.S , the North Carolina Commissioner of Banks (NCCOB) can extend the earliest filing date of our foreclosure action by thirty (30) days if the Commissioner reasonably believes, based on a full review of the loan information, the mortgage servicer s loss mitigation efforts, the borrower s capacity and interest in staying in the home, and other appropriate factors, that further efforts by the State Home Foreclosure Prevention Project offer a reasonable prospect to avoid foreclosure on primary residences. Once the pre-foreclosure period has expired, we can proceed.

3 Documents Needed at Referral Copy of Recorded Deed of Trust (DOT) Copy of Note with Indorsements Copy of Title Policy Copy of Assignments/Allonges Copy of Appraisal NCGS Written Compliance response Payoff figures for NCGS (c)(5a) notice * This letter also includes the Fair Debt Collection Practices information. Home Loan/Non-Home Loan Certificate, if applicable 45 day pre-foreclosure notice and/or 30 day breach letter If our office sends the 45-day pre-foreclosure notice for you, we need a reinstatement figure.

4 Substitution of Trustee (SOT) Before we can file our Notice of Hearing, the SOT must be executed by a chairman, president, chief executive officer, vice-president, assistant vicepresident, treasurer, or chief financial officer of the note holder or the attorney-in-fact for the note holder and must be recorded with the Register of Deeds Office in the county in which the property being foreclosed is located. If a person with any other title (i.e., Asst. Secretary) executes the SOT, we must have an original or a certified copy of the corporate resolution allowing this person to execute SOTs on behalf of the note holder so we can record the resolution in North Carolina.

5 Notice of Hearing (NOH) First legal document we file with the Clerk of Superior Court to begin a power of sale foreclosure action in North Carolina. The filing fee is $ The NOH must be served on: - Any person that the deed of trust directs notice to be sent in the case of default; - Any person obligated to repay the indebtedness against whom the holder intends to assert liability for any deficiency (i.e., guarantor); and - Every record owner of the real estate whose interest is of record in the county where the real property is located at the time the NOH is filed in that county (does not include: holder of a senior or junior deed of trust, judgment, mechanic s or materialman s lien, or other lien or security interest in the real property).

6 Service The Notice of Hearing (NOH) must be served on all parties in accordance with Rule 4 of the N.C. Rules of Civil Procedure. We attempt service on each party by U.S. Certified Mail, return receipt requested at the property address and mailing address, if different, and by asking the Sheriff to personally serve each party. If after a due and diligent search, the Sheriff is unable to locate the person to be served in the county in which the property is located, the Sheriff will post a copy of the NOH on the front door of the property being foreclosed. If we rely on posting as our method of service, the NOH must be posted on the property at least 20 days prior to the hearing, which cannot include the day of posting or the day of the hearing. If we obtain personal service (i.e., certified mail, UPS, or Sheriff), the NOH must be served on the party at least 10 days prior to the hearing.

7 Response to NOH Any party to the foreclosure action may appear at the foreclosure hearing before the Clerk of Court and contest the holder s right to foreclose. A party contesting the foreclosure is NOT required to file any formal pleading in N.C. The person may simply appear at the hearing and state that he/she is contesting the foreclosure.

8 Clerk of Court The Clerk of Court is the judicial officer that presides over power of sale foreclosure actions in N.C. The Clerk of Court is an elected official. The Clerk of Court is not a lawyer in the vast majority of the counties in N.C.

9 State Home Foreclosure Prevention Project Extension Eliminates the distinction between a non-subprime and a subprime loan. Beginning , servicers are required to register all home loans on the North Carolina Commissioner of Banks (NCCOB) database, regardless of origination date, within 3 business days of mailing the pre-foreclosure notice to the borrower. Beginning , when registering a loan on the database, you must have completed the due date of last scheduled payment made field. At the time a loan is registered on the database, the servicer will have to pay a one-time for the life of the loan fee of $75.00.

10 Home Loan definition Borrower is a natural person, debt is incurred primarily for personal, family or household use, and the loan is secured by property that is or will be occupied by the borrower as the borrower s principal residence. Excludes: Equity Lines, Construction Loans, Reverse Mortgages, Bridge Loans with a term of 12 months or less, Commercial Loans, Loans that Exceed the Conforming Loan Size Limit for a Single-Family Dwelling as established by Fannie Mae, and Loans Secured by Property that is NOT the Borrower s Principal Dwelling (vacation home, rental property).

11 N.C. Home Loan Requirements If the loan is not exempt from the home loan definition set forth in G.S (1b), we need either the: - Non-Home Loan Certificate or - The Conditional Certificate of Compliance. If the loan is a home loan, G.S requires that the loan be registered on the NCCOB database within 3 business days of the date the pre-foreclosure notice was mailed to the borrower. This law went into effect on November 1, 2010.

12 Affidavit of Indebtedness This is the Affidavit that you execute for us and that we present to the Clerk of Court to prove: That the entity that we are foreclosing in the name of is the holder of the Note and Deed of Trust as that term is defined in the Uniform Commercial Code; That the loan is in default and has been accelerated; That there is a power of sale provision in the Deed of Trust; That you have made attempts to work towards a loss mitigation resolution to the default with the borrower if the property being foreclosed is the borrower s primary residence; and That the loan is not a home loan under North Carolina law or that it is a home loan and you have complied with North Carolina s requirements regarding home loans.

13 N.C.G.S A This statute was passed by the N.C. legislature to complement the provisions of the federal Servicemembers Civil Relief Act, 50 U.S.C. App. 501, et seq. ( SCRA ). The foreclosure prohibition is only applicable to loans that were originated BEFORE the borrower s period of military service. If the borrower was in the military at the time of loan origination, this law is not applicable and there will be no delay in the foreclosure process. If the borrower was not in the military at the time of loan origination, and subsequently goes on active duty, this law prohibits the Clerk of Court from holding a foreclosure hearing during, or within 90 days after, a period of military service. This law became effective on January 1, 2011 and applies to foreclosures initiated on or after that date. Our office conducts a military search and executes an affidavit stating that the foreclosure is not prohibited by this statute.

14 Hearing before the Clerk of Court To authorize the foreclosure sale, the Clerk must find the existence of: 1. A valid debt of which the party seeking to foreclose is the holder; 2. Default; 3. Right to foreclose under the instrument; 4. Notice to those entitled to notice; 5. That the underlying mortgage debt is not a home loan as defined in G.S (1b), or if the loan is a home loan under G.S (1b), that the pre-foreclosure notice under G.S was provided in all material respects, and that the periods of time established by Article 11 of Chapter 45 of the General Statutes have elapsed; 6. That the property is occupied by the borrower as his/her principal residence and the lender has complied with the requirements of G.S C or that the property is not occupied by the borrower as his/her principal residence and therefore G.S C is inapplicable; and 7. That the sale is not barred by G.S A.

15 Contested Issues/Appeals 2 issues that are contested most often are: Whether the party seeking to foreclose is the holder of the Note; and Whether the borrower is in default. In North Carolina, the amount of the default is not relevant for a Clerk s foreclosure hearing. If the borrower is $1.00 behind, the Clerk shall enter the Order allowing the foreclosure sale to proceed.

16 Contested Issues/Appeals (cont.) Appeals of the Clerk s Order authorizing a foreclosure sale are made to a Superior Court Judge (trial court level). The Judge is limited to the same 7 findings that were before the Clerk of Court. If the borrower appeals, he must post a bond adequate to protect the holder from any probably loss by reason of appeal in order to stop the foreclosure sale from taking place. If he does not post the bond, the sale can still take place and the appeal will be moot when the appeal hearing takes place. If the property is the borrower s primary residence, the bond shall be 1% of the principal balance due on the Note. The Clerk has the discretion to set the bond at a higher or lower amount for other good cause shown.

17 G.S C G.S C provides the Clerks with the authority to continue a foreclosure hearing for up to 60 days if the residence being foreclosed is the borrower s principal residence and the Clerk determines there is good cause to believe that additional time or additional measures have a reasonable likelihood of resolving the delinquency without foreclosure.

18 G.S C (cont.) In determining whether good cause exists, the Clerk may consider 4 factors: 1) Whether the mortgagee, trustee or loan servicer has offered the borrower an opportunity to resolve the foreclosure through forbearance, loan modification or other commonly accepted resolution plan appropriate under the circumstances. 2) Whether the mortgagee, trustee, or loan servicer has engaged in actual responsive communication with the borrower, including telephone conferences or in-person meetings with the borrower or other actual two-party communications. 3) Whether the debtor has indicated that he or she has the intent and ability to resolve the delinquency by making future payments under a foreclosure resolution plan. 4) Whether the initiation or continuance of good faith voluntary resolution efforts between the parties may resolve the matter without a foreclosure sale. Notably, the Clerk also has the authority to continue the hearing for other good cause shown.

19 Notice of Sale A copy of the Notice of Sale is posted at the courthouse immediately after the hearing before the Clerk of Court takes place. We send a copy of the Notice of Sale by First Class Mail to the following: Any person who has filed a Request for Notice (RFN). A person that has filed a RFN is entitled to notice of the sale at least 20 days prior to the sale taking place. Current Occupant. The current occupant of the property must be given 20 days notice of the sale of the property. Large Judgment. If there is a large judgment, we send a copy of the Notice of Sale to the judgment holder. Junior Lienholder. We send a copy of the Notice of Sale by U.S. Certified Mail, return receipt requested to the IRS. If an IRS lien was filed 30 or more days prior to the sale date, we are required to provide the IRS with notice of the sale at least 25 days prior to the sale date.

20 Publication The Notice of Sale must run in the newspaper for 2 consecutive weeks and the period of time from the date of first publication to the date of the last publication, both days inclusive, shall not be less than 7 days. The last publication date CANNOT be more than 10 days before the sale.

21 Notice of Hearing (NOH) First legal document we file with the Clerk of Superior Court to begin a power of sale foreclosure action in North Carolina. The filing fee is $ The NOH must be served on: - Any person that the deed of trust directs notice to be sent in the case of default; - Any person obligated to repay the indebtedness against whom the holder intends to assert liability for any deficiency (i.e., guarantor); and - Every record owner of the real estate whose interest is of record in the county where the real property is located at the time the NOH is filed in that county (does not include: holder of a senior or junior deed of trust, judgment, mechanic s or materialman s lien, or other lien or security interest in the real property).

22 Sale The sale takes place at the courthouse. If a third party bidder is the high bidder, he is required to deposit 5% of his bid in certified funds with the person holding the sale. We generally give a third party bidder 30 days to pay the full balance of his bid. There is a 10 day redemption and upset bid/confirmation period in N.C. that run concurrently. A sale is not confirmed until there have been 10 consecutive days with no upset bids having been filed. Once the sale has confirmed, the rights of the parties become fixed and the purchaser is entitled to a Trustee s Deed upon payment of the balance of the bid.

23 Sale Redemption: During this 10 day period, the borrower has the right to pay the loan in full and redeem the property. Upset Bid: During this 10 day period, any person may file an upset bid with the Clerk of Court. The upset bid must be at least 5% more than the last bid and the person placing the bid must deposit 5% of his bid with the Clerk s office. The 10 day period starts over again after each upset bid is placed and continues until 10 consecutive days have passed without an upset bid having been filed.

24 Sale Postponements We can postpone a sale for up to 90 days from the original sale date in any increment of time (i.e., 2 days, 2 weeks, 30 days). We do not have to republish the Notice of Sale if the sale is postponed. Each postponement costs $150.00, because we have to appear in person at the courthouse and publicly announce the sale postponement on the day and at the time the sale was originally supposed to take place.

25 Placing a File on Hold vs. Closing The Administrative Office of the Courts in North Carolina issued a memorandum to the Clerks of Court which states that the Clerks cannot place a case on "inactive status" or hold because the borrower is negotiating a repayment or other workout plan. If you ask our office to place a file on "hold" for loss mitigation and the Order authorizing the foreclosure sale has NOT been entered by the Clerk, we must dismiss the foreclosure proceeding. If you ask us to place a file on "hold" AFTER the Clerk has entered the Order authorizing the foreclosure sale, we will place the file on hold as long as possible until we receive a clean-up calendar from the Clerk s Office. At that time, we will ask you whether you want us to proceed with the foreclosure sale or dismiss the foreclosure proceeding.

26 Borrower Request for Information G.S The North Carolina Mortgage Debt Collection and Servicing Act became effective on April 1, Within 10 business days of receipt of the borrower s request for information, the servicer must provide the borrower (or his attorney if represented) with a statement which includes the following information: Whether the account is current and if not, an explanation of the default and the date the account went into default; The current balance due on the loan, including the principal due; The amount of funds (if any) held in a suspense account; The amount of the escrow balance (if any) known to the servicer; Whether there are any escrow deficiencies or shortages known to the servicer; The identity, address, and other relevant information about the current holder, owner, or assignee of the loan; and The telephone number and mailing address of a servicer representative with the information and authority to answer questions and resolve disputes.

27 Borrower Request for Information G.S (cont.) Within 25 business days of the date of the borrower s request for information, the servicer must provide the borrower (or his attorney if represented) with: Copy of the original note or affidavit of lost note; and Full payment history, including escrow and suspense account activity. The history shall include a minimum two-year period prior to the date of the receipt of the request for information. If the servicer claims that any delinquent or outstanding sums are owed on the home loan prior to the 2-year period, the servicer shall provide an account history beginning with the month that the servicer claims any outstanding sums are owed on the loan up to the date of the request for information.

28 NCCOB Rule 702 Under this rule, mortgage servicers must: (1) Acknowledge, in writing, a borrower s request for loss mitigation no later than ten (10) business days after the request. The acknowledgement must identify with specificity any information needed from the borrower in order for the servicer to consider the borrower s Loss Mitigation Request ( LMR ). For purposes of this Rule and Rule 703, a LMR is considered received by a servicer upon the borrower or the borrower s agent contacting the servicer at the address, phone or other contact information required to be provided to borrowers in a notice complying with G.S (22) which is the 45-day pre-foreclosure notice statute.

29 NCCOB Rule 702 cont. (2) Respond to a loss mitigation request from a borrower no later than thirty (30) business days after the receipt of all information necessary from the borrower to assess whether or not a borrower qualifies for any loss mitigation programs offered by the servicer. **This response should be an approval, denial, or an update. If you have not received investor approval yet and so you cannot provide a final response (approval or denial), please be sure that you send a letter to the borrower within the 30 business day time period providing the borrower with an update on the status of his/her request and notifying the borrower that the foreclosure action will remain on hold until you can provide the borrower with a final response which will be an approval or denial of the borrower s LMR.

30 NCCOB Rule 702 cont. (3) Include in a final response denying a loss mitigation request the reason for the denial and contact information for a person at the servicer with authority to reconsider the denial. In addition, the denial shall also include the following statement in boldface type and in print no smaller than the largest print used elsewhere in the main body of the denial: If you believe the loss mitigation request has been wrongly denied, you may file a complaint with the North Carolina Office of the Commissioner of Banks website,

31 NCCOB Rule 703: Cessation of Foreclosure Activity Under this rule a servicer is prohibited from initiating or furthering a foreclosure proceeding or imposing a charge incident to a foreclosure proceeding during the pendency of a Loss Mitigation Request.

32 NCCOB Rule 703 cont. This requirement would NOT apply if: The borrower has failed to comply with the terms of a loss mitigation plan within the previous 12 months, if the loss mitigation plan: (a) was implemented pursuant to a federal or state foreclosure prevention program, including the Home Affordable Modification Program; or (b) reduced the monthly payment of the loan by 6% from the scheduled monthly payment and resulted in a monthly payment of principal, interest, taxes, and insurance of less that 31% of the borrower s household income; The servicer has provided a final response regarding a loss mitigation request within the last 12 months and reasonably believes that the current loss mitigation request was not made in good faith; The borrower has failed to comply with a Chapter 13 bankruptcy repayment plan or has any bankruptcy proceedings dismissed for abuse of process within the last 12 months; The loss mitigation request is received by the servicer after the time for appealing an order granting foreclosure of the secured residential real estate has passed in accordance with Article 2A of Chapter 45 (the borrower has 10 days from the date the Clerk enters an Order authorizing the foreclosure sale to appeal); The servicing contract or the terms of the mortgage loan, entered into prior to October 1, 2009, prohibits such a delay.

33 NCCOB Rule 703 cont. Upon receipt of a LMR you need to determine whether one of these exceptions applies and whether a foreclosure action has been filed. Detailed notes regarding this determination should be made a part of the loan notes (date of receipt of LMR, date determination made regarding whether this loan is exempt from Rule 703, determination, and date/description of notifications sent to the borrower). If an exception applies, you can send a letter to the borrower which is both an acknowledgement and denial, provide a copy to your foreclosure counsel, close the LMR process on this loan, and proceed with foreclosure. If no exceptions are applicable, you need to advise foreclosure counsel immediately of the LMR and place the file on hold. No charges incident to a foreclosure may be imposed during the pendency of a LMR.

34 Differences in the N.C. and S.C. foreclosure process Assignments are not required in North Carolina and do not have to be recorded. In North Carolina, we only have to prove the holder of the Note, not the owner of the Note. In North Carolina, our office controls the sale and any postponements thereof, not the court. Sales can be conducted any day of the week, not just one day a month. We also execute the Trustee s Deed conveying the property to the high bidder once the sale confirms. In North Carolina, no original documents are required unless the hearing is contested and one of the issues in dispute is whether the entity that we are foreclosing in the name of is the holder of the Note. In North Carolina, affidavits of indebtedness are required to be filed in all 100 counties in the State and do not contain an itemized breakdown of the amount owed. The affidavit only contains the current principal balance and the date of the last paid installment. In North Carolina, we do not have mediation, nor do we need a HAMP certification to file our first legal. In North Carolina, we cannot obtain a deficiency judgment as part of the foreclosure proceeding. In North Carolina, we utilize posting rather than publication if we cannot obtain personal service of the NOH.

NORTH CAROLINA POWER OF SALE FORECLOSURE ABSTRACT - LONG FORM

NORTH CAROLINA POWER OF SALE FORECLOSURE ABSTRACT - LONG FORM NORTH CAROLINA POWER OF SALE FORECLOSURE ABSTRACT - LONG FORM Special Proceeding No. SP County, North Carolina Deed of Trust Foreclosed (DTF): Book Page Abstracted by on, 20 OWNER/PROPERTY/INTEREST FROM

More information

Frequently Asked Questions Foreclosure

Frequently Asked Questions Foreclosure Frequently Asked Questions Foreclosure What is a Foreclosure? How Can I Avoid A Foreclosure Once a Complaint Has Been Filed Against Me? Where is a Foreclosure Complaint Filed? What Should You Do if Served

More information

REQUIRES TWO-THIRDS MAJORITY VOTE ( 29) Referred to Committee on Judiciary. SUMMARY Enacts a Homeowner s Bill of Rights.

REQUIRES TWO-THIRDS MAJORITY VOTE ( 29) Referred to Committee on Judiciary. SUMMARY Enacts a Homeowner s Bill of Rights. REQUIRES TWO-THIRDS MAJORITY VOTE ( ) S.B. SENATE BILL NO. SENATORS JONES, DENIS, SMITH, SEGERBLOM, FORD; AND KIHUEN MARCH, 0 JOINT SPONSORS: ASSEMBLYMEN HEALEY, KIRKPATRICK AND FRIERSON Referred to Committee

More information

Foreclosures: Everything You Wanted to Know but Was Afraid to Ask. 1. Lawsuit with Judge or Jury 2. Remedy for Defaults on Mortgages

Foreclosures: Everything You Wanted to Know but Was Afraid to Ask. 1. Lawsuit with Judge or Jury 2. Remedy for Defaults on Mortgages Foreclosures: Everything You Wanted to Know but Was Afraid to Ask A. Types of Foreclosures a. Judicial Foreclosure 1. Lawsuit with Judge or Jury 2. Remedy for Defaults on Mortgages b. Power of Sale Foreclosure

More information

Senate Bill No. 321 Senators Jones, Denis, Smith, Segerblom, Ford; Brower, Hammond, Hutchison and Kihuen

Senate Bill No. 321 Senators Jones, Denis, Smith, Segerblom, Ford; Brower, Hammond, Hutchison and Kihuen Senate Bill No. 321 Senators Jones, Denis, Smith, Segerblom, Ford; Brower, Hammond, Hutchison and Kihuen Joint Sponsors: Assemblymen Healey, Kirkpatrick and Frierson CHAPTER... AN ACT relating to real

More information

Effective Foreclosure Time Line Management Reference Guide

Effective Foreclosure Time Line Management Reference Guide Effective Foreclosure Time Line Management Reference Guide A foreclosure time line is the number of days it takes to process a foreclosure, from the due date of the last paid installment (DDLPI) to the

More information

Chapter 45. Mortgages and Deeds of Trust. Article 1. Chattel Securities. 45-1 through 45-3.1: Repealed by Sessions Laws 1967, c. 562, s. 2.

Chapter 45. Mortgages and Deeds of Trust. Article 1. Chattel Securities. 45-1 through 45-3.1: Repealed by Sessions Laws 1967, c. 562, s. 2. Chapter 45. Mortgages and Deeds of Trust. Article 1. Chattel Securities. 45-1 through 45-3.1: Repealed by Sessions Laws 1967, c. 562, s. 2. Article 2. Right to Foreclose or Sell under Power. 45-4. Representative

More information

COLORADO FORECLOSURE LAWS

COLORADO FORECLOSURE LAWS COLORADO FORECLOSURE LAWS Orten Cavanagh & Holmes, LLC Community Association Attorneys Denver Phone 720.221.9780 Fax 720.221.9781 Toll Free 888.841.5149 Colorado Springs Phone 719.457.8420 Fax 719.457.8419

More information

To help you better understand the foreclosure process, these definitions are presented in a logical order, rather than alphabetical order.

To help you better understand the foreclosure process, these definitions are presented in a logical order, rather than alphabetical order. FORECLOSURE GLOSSARY NOTICE: This glossary of legal words and phrases related to foreclosure is provided to you by the Clermont County Common Pleas Court to help you better understand your legal problem

More information

11 LC 14 0449ER A BILL TO BE ENTITLED AN ACT

11 LC 14 0449ER A BILL TO BE ENTITLED AN ACT House Bill 338 By: Representative Bryant of the 160 th A BILL TO BE ENTITLED AN ACT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 To amend Title 44 of the Official Code of Georgia Annotated, relating to property,

More information

2007 NC H.B. 2623 NORTH CAROLINA GENERAL ASSEMBLY OF NORTH CAROLINA - SESSION OF 2008 HOUSE BILL 2623

2007 NC H.B. 2623 NORTH CAROLINA GENERAL ASSEMBLY OF NORTH CAROLINA - SESSION OF 2008 HOUSE BILL 2623 2007 NC H.B. 2623 NORTH CAROLINA GENERAL ASSEMBLY OF NORTH CAROLINA - SESSION OF 2008 HOUSE BILL 2623 VERSION: Enrolled VERSION-DATE: July 17, 2008 GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2007 HOUSE

More information

State by State Foreclosure Laws

State by State Foreclosure Laws State by State Foreclosure Laws Alabama Foreclosure Laws 49-74 21 365 Trustee Comments: Judicial Foreclosures are not common Alabama foreclosures occur both in court and out-of-court. The typical foreclosure

More information

Foreclosures 101. Carruthers & Roth, P.A. (336) 478-1110. November 12, 2008

Foreclosures 101. Carruthers & Roth, P.A. (336) 478-1110. November 12, 2008 Foreclosures 101 Elizabeth J. Zook, Esq. Carruthers & Roth, P.A. (336) 478-1110 November 12, 2008 Document Review Loan Documents All pages? Signed? Acknowledged? Deed of Trust: Describes the encumbered

More information

T E X A S Y O U N G L A W Y E R S A S S O C I A T I O N A N D T H E S T A T E B A R O F T E X A S FA CING

T E X A S Y O U N G L A W Y E R S A S S O C I A T I O N A N D T H E S T A T E B A R O F T E X A S FA CING T E X A S Y O U N G L A W Y E R S A S S O C I A T I O N A N D T H E S T A T E B A R O F T E X A S FA CING F ORECLOSURE FACING F O RECLOSURE "Facing Foreclosure" has been prepared as a public service by

More information

NINTH JUDICIAL CIRCUIT, IN AND FOR ORANGE COUNTY, FLORIDA

NINTH JUDICIAL CIRCUIT, IN AND FOR ORANGE COUNTY, FLORIDA ADMINISTRATIVE ORDER NO. 2009-02 IN THE CIRCUIT COURT OF THE NINTH JUDICIAL CIRCUIT, IN AND FOR ORANGE COUNTY, FLORIDA ADMINISTRATIVE ORDER GOVERNING MANDATORY CIRCUIT COURT MEDIATION FOR OWNER-OCCUPIED

More information

PATHS OF A FORECLOSURE IN NEW YORK STATE

PATHS OF A FORECLOSURE IN NEW YORK STATE PATHS OF A FORECLOSURE IN NEW YORK STATE BORROWER DELINQUENT 2-3 months late with mortgage payments 90-DAY PRE-FORECLOSURE NOTICE Lender sends notices, bills, letters to borrower stating that he/she is

More information

FORECLOSURE. I don t think I can make my mortgage payments but I don t want to go through a foreclosure. What are some of my options?

FORECLOSURE. I don t think I can make my mortgage payments but I don t want to go through a foreclosure. What are some of my options? FORECLOSURE When you borrow money to buy a house or land, the creditor usually takes a security interest in the property you buy. This means that if you don t pay, the creditor can foreclose upon (or take

More information

INSTRUCTIONS TO FORECLOSURE COMMISSIONER TITLE II. D. Serving the Notice of Default and Foreclosure Sale

INSTRUCTIONS TO FORECLOSURE COMMISSIONER TITLE II. D. Serving the Notice of Default and Foreclosure Sale INSTRUCTIONS TO FORECLOSURE COMMISSIONER TITLE II Attachment 4 Contents of Instructions: A. Introduction B. Preliminary Steps C. Notice of Default and Foreclosure Sale D. Serving the Notice of Default

More information

Legislative Response to the Residential Mortgage Crisis

Legislative Response to the Residential Mortgage Crisis Property Group December 2008 Legislative Response to the Residential Mortgage Crisis The current mortgage crisis has sparked legislative action in several states to modify foreclosure remedies and to provide

More information

PATHS OF A FORECLOSURE IN NEW YORK STATE

PATHS OF A FORECLOSURE IN NEW YORK STATE PATHS OF A FORECLOSURE IN NEW YORK STATE BORROWER DELINQUENT 2-3 months late with mortgage payments Lender sends notices, bills, letters to borrower stating that he/she is delinquent Borrower has multiple

More information

Misc. Docket No. f ( '9256

Misc. Docket No. f ( '9256 IN THE SUPREME COURT OF TEXAS Misc. Docket No. f ( '9256 FINAL APPROVAL OF AMENDMENTS TO TEXAS RULES OF CIVIL PROCEDURE 735 AND 736 ORDERED that: 1. Pursuant to Section 22.004 of the Texas Government Code,

More information

PATHS OF A FORECLOSURE IN NEW YORK STATE

PATHS OF A FORECLOSURE IN NEW YORK STATE PATHS OF A FORECLOSURE IN NEW YORK STATE BORROWER DELINQUENT 2-3 months late with mortgage payments if S/P or N/T 90-DAY PRE-FORECLOSURE NOTICE* for all subprime and non-traditional loans (as defined by

More information

FARM LEGAL SERIES June 2015 Mortgage Foreclosures

FARM LEGAL SERIES June 2015 Mortgage Foreclosures Agricultural Business Management FARM LEGAL SERIES June 2015 Mortgage Foreclosures Phillip L. Kunkel, Jeffrey A. Peterson, Jason Thibodeaux Attorneys, Gray Plant Mooty INTRODUCTION If a farm debtor is

More information

Defaulted Real Estate Loan Remedies in Tennessee

Defaulted Real Estate Loan Remedies in Tennessee Defaulted Real Estate Loan Remedies in Tennessee Nelwyn Inman Jay Ebelhar ninman@bakerdonelson.com jebelhar@bakerdonelson.com 423.752.4405 901.577.8204 Baker Donelson Offices 2 Tennessee Deed of Trust

More information

IN THE TIDRTEENTH JUDICIAL CIRCUIT HILLSBOROUGH COUNTY, FLORIDA. ADMINISTRATIVE ORDER S-2015-022 (Supersedes Administrative Order S-2015-015)

IN THE TIDRTEENTH JUDICIAL CIRCUIT HILLSBOROUGH COUNTY, FLORIDA. ADMINISTRATIVE ORDER S-2015-022 (Supersedes Administrative Order S-2015-015) IN THE TIDRTEENTH JUDICIAL CIRCUIT HILLSBOROUGH COUNTY, FLORIDA ADMINISTRATIVE ORDER S-2015-022 (Supersedes Administrative Order S-2015-015) FORECLOSURE PROCEDURES In light of this circuit's Judicial Automated

More information

2015 -- S 0581 SUBSTITUTE A ======== LC001375/SUB A ======== S T A T E O F R H O D E I S L A N D

2015 -- S 0581 SUBSTITUTE A ======== LC001375/SUB A ======== S T A T E O F R H O D E I S L A N D 0 -- S 01 SUBSTITUTE A LC00/SUB A S T A T E O F R H O D E I S L A N D IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 0 A N A C T RELATING TO PROPERTY -- MORTGAGE FORECLOSURE AND SALE Introduced By: Senators

More information

Instructions for Filing a Motion to Vacate a Judgment

Instructions for Filing a Motion to Vacate a Judgment Appendix F1: Instructions for Filing a Motion to Vacate Judgment--Page 1 of 10 Instructions for Filing a Motion to Vacate a Judgment Use these forms if all of the following are true: You are the defendant

More information

FARM LEGAL SERIES June 2015 Foreclosure of Security Interests in Personal Property

FARM LEGAL SERIES June 2015 Foreclosure of Security Interests in Personal Property Agricultural Business Management FARM LEGAL SERIES June 2015 Foreclosure of Security Interests in Personal Property Phillip L. Kunkel, Jeffrey A. Peterson, Jason Thibodeaux Attorneys, Gray Plant Mooty

More information

Carson City Office: Office of the Attorney General 100 North Carson Street, Carson City, NV 89701 Phone: 775-684-1100 Website: Ag.nv.

Carson City Office: Office of the Attorney General 100 North Carson Street, Carson City, NV 89701 Phone: 775-684-1100 Website: Ag.nv. The National Mortgage Settlement Carson City Office: Office of the Attorney General 100 North Carson Street, Carson City, NV 89701 Phone: 775-684-1100 Website: Ag.nv.gov Multistate Settlement Investigation

More information

Insight from Carlton Fields

Insight from Carlton Fields Insight from Carlton Fields 2011 Nuts and Bolts of the Florida By Kathleen S. McLeroy Introduction Florida is a judicial foreclosure state. Mortgage foreclosures in Florida are judicial proceedings, and

More information

SONYMA The Mortgage Insurance Fund

SONYMA The Mortgage Insurance Fund SONYMA The Mortgage Insurance Fund Single Family - Changes to the Revised Servicing Guide 1. Paragraphs, captions, sentences, and phrases were added to broaden and clarify the various topics of the manual

More information

Compliance & Foreclosure

Compliance & Foreclosure Compliance & Foreclosure June 19th, 2015 Hilton Hotel, Dedham, MA Erika J. Hoover, Esq. Compliance Counsel Life of a foreclosure default to post sale Pre-foreclosure compliance issues Obsolete mortgages

More information

CHAPTER 454M MORTGAGE SERVICERS

CHAPTER 454M MORTGAGE SERVICERS CHAPTER 454M MORTGAGE SERVICERS SECTION 454M-1 Definitions 454M-2 License required 454M-2.5 Unlicensed foreclosure actions voided 454M-3 Exemptions 454M-4 License; fees; renewals; voluntary surrender of

More information

I. RETURN INTEGRITY & ACCURACY TO FORECLOSURE AND BANKRUPTCY PROCEEDINGS

I. RETURN INTEGRITY & ACCURACY TO FORECLOSURE AND BANKRUPTCY PROCEEDINGS I. RETURN INTEGRITY & ACCURACY TO FORECLOSURE AND BANKRUPTCY PROCEEDINGS A. Put an end to robosigning - signing affidavits filed with the court without personal knowledge. Affidavits/sworn statements utilized

More information

NEVADA FORECLOSURE TIMELINE

NEVADA FORECLOSURE TIMELINE FORECLOSURE TIMELINE Functions To Be Preformed No. of Days After File Received 1. Receipt of Referral from Client Trustee Sale Guarantee is 1 Ordered and Notice Of Default prepared 2. Notice of Default

More information

Arizona Agency Foreclosure Training January 28, 2007

Arizona Agency Foreclosure Training January 28, 2007 Arizona Agency Foreclosure Training January 28, 2007 Presented by: Andrew J. Loubert Community Reinvestment Solutions, Inc. Arizona Foreclosure Process: Notice of Default Notice must specify: 1. The default

More information

Remedial Action in Southeastern States Foreclosure in Florida

Remedial Action in Southeastern States Foreclosure in Florida Remedial Action in Southeastern States Foreclosure in Florida Zachary J. Bancroft Heidi Weinzetl 407.367.5426 954.768.1600 zbancroft@bakerdonelson.com hweinzetl@bakerdonelson.com Our Office Locations 2

More information

FORECLOSURE PROCEDURES

FORECLOSURE PROCEDURES IN THE THIRTEENTH JUDICIAL CIRCUIT HILLSBOROUGH COUNTY, FLORIDA ADMINISTRATIVE ORDER S-2012-053 (Supersedes Administrative Orders S-2011-010 and S-2012-038) FORECLOSURE PROCEDURES Administrative Order

More information

Foreclosure Report Survey of State Foreclosure Laws

Foreclosure Report Survey of State Foreclosure Laws Foreclosure Report Survey of State Foreclosure Laws State: Alabama Statutory citation: Ala. Code 35-10-1 to 35-10-30 and 6-5-247 to 6-5-256 Most Common Method of Foreclosure: Non-judicial; Power of Sale

More information

I m behind in my mortgage payments, what should I do?

I m behind in my mortgage payments, what should I do? FORECLOSURES This handout was prepared by Legal Services of Greater Miami, Inc.(LSGMI) with support from the Institute for Foreclosure Legal Assistance. LSGMI represents homeowners in foreclosure and homeowners

More information

Foreclosure Update. In the past. But now. Foreclosures not as big of a problem for lenders

Foreclosure Update. In the past. But now. Foreclosures not as big of a problem for lenders Foreclosure Update Presented by: Fred Schraub Texas Underwriting Counsel Stewart Title Guaranty Company July 15, 2010 In the past Foreclosures not as big of a problem for lenders Foreclosed property could

More information

CODING: Words stricken are deletions; words underlined are additions. hb0087-00

CODING: Words stricken are deletions; words underlined are additions. hb0087-00 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 A bill to be entitled An act relating to mortgage foreclosures; amending s. 95.11, F.S.; revising the limitations period for commencing

More information

Cause No.: Application for an Expedited Order Under Rule 736 on a Home Equity, Reverse Mortgage, or Home Equity Line of Credit Loan

Cause No.: Application for an Expedited Order Under Rule 736 on a Home Equity, Reverse Mortgage, or Home Equity Line of Credit Loan Cause No.: In Re: Order for Foreclosure Concerning [property address] Under Tex. R. Civ. P. 736 Petitioner: Respondent(s): In the [type of court, e.g., district, county, or probate] Court County, Texas

More information

HOME MORTGAGE MODIFICATION

HOME MORTGAGE MODIFICATION HOME MORTGAGE MODIFICATION Individuals in bankruptcy cases assigned to Judge Waites, including joint debtors, may seek court approval of consensual modifications of home mortgage loans in one or more of

More information

CHAPTER 35-22 FORECLOSURE OF MORTGAGES OF REAL PROPERTY BY ADVERTISEMENT

CHAPTER 35-22 FORECLOSURE OF MORTGAGES OF REAL PROPERTY BY ADVERTISEMENT CHAPTER 35-22 FORECLOSURE OF MORTGAGES OF REAL PROPERTY BY ADVERTISEMENT 35-22-01. Foreclosure under power of sale - Prohibition - Exception. Every mortgage of real property held by the state or any of

More information

PROPOSED REGULATION OF THE COMISSIONER OF MORTGAGE LENDING. LCB File No. R091-10

PROPOSED REGULATION OF THE COMISSIONER OF MORTGAGE LENDING. LCB File No. R091-10 PROPOSED REGULATION OF THE COMISSIONER OF MORTGAGE LENDING LCB File No. R091-10 NRS 645B MORTGAGE BROKERS EXPLANATION Matter in italics is new; matter in brackets [omitted material] is material to be omitted.

More information

SMALL CLAIMS RULES. (d) Record of Proceedings. A record shall be made of all small claims court proceedings.

SMALL CLAIMS RULES. (d) Record of Proceedings. A record shall be made of all small claims court proceedings. SMALL CLAIMS RULES Rule 501. Scope and Purpose (a) How Known and Cited. These rules for the small claims division for the county court are additions to C.R.C.P. and shall be known and cited as the Colorado

More information

(131st General Assembly) (Substitute House Bill Number 303) AN ACT

(131st General Assembly) (Substitute House Bill Number 303) AN ACT (131st General Assembly) (Substitute House Bill Number 303) AN ACT To enact sections 5315.01, 5315.02, 5315.03, 5315.04, and 5315.05 of the Revised Code to create the D.O.L.L.A.R. Deed Program. Be it enacted

More information

51ST LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 2013

51ST LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 2013 SENATE CORPORATIONS AND TRANSPORTATION COMMITTEE SUBSTITUTE FOR SENATE BILL ST LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, AN ACT RELATING TO PROPERTY; ENACTING THE MORTGAGE FAIR FORECLOSURE ACT;

More information

PRECINCT 7 Brad Burnett 7933 VITERBO RD., STE 1 (409) JUSTICE OF THE PEACE BEAUMONT, TEXAS (409) Fax EVICTIONS

PRECINCT 7 Brad Burnett 7933 VITERBO RD., STE 1 (409) JUSTICE OF THE PEACE BEAUMONT, TEXAS (409) Fax EVICTIONS PRECINCT 7 Brad Burnett 7933 VITERBO RD., STE 1 (409)719-5900 JUSTICE OF THE PEACE BEAUMONT, TEXAS 77705 (409)724-2148 Fax EVICTIONS Frequently Asked Questions Q. How much does it cost to file an eviction

More information

S.F. No. 2430, 3rd Engrossment - 86th Legislative Session (2009-2010) [s2430-3]

S.F. No. 2430, 3rd Engrossment - 86th Legislative Session (2009-2010) [s2430-3] 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 A bill for an act relating to mortgages; regulating reverse mortgages; requiring certain notices related to redemption rights be made to a mortgagor;

More information

State of North Carolina

State of North Carolina Michael F. Easley Governor State of North Carolina Office of the Commissioner of Banks September 4, 2008 Joseph A. Smith, Jr. Commissioner of Banks TO: FROM: All Mortgage Lenders and Mortgage Brokers North

More information

INSTRUCTIONS. HAFA Short Sale Agreement. Defines the terms and conditions of a short sale, including the following:

INSTRUCTIONS. HAFA Short Sale Agreement. Defines the terms and conditions of a short sale, including the following: INSTRUCTIONS HAFA Short Sale Agreement Defines the terms and conditions of a short sale, including the following: listing agreement, maximum real estate commissions and marketing terms; servicer and borrower

More information

NC General Statutes - Chapter 47H 1

NC General Statutes - Chapter 47H 1 Chapter 47H. Contracts for Deed. 47H-1. Definitions. The following definitions apply in this Chapter: (1) Contract for deed or contract. An agreement, whether denominated a "contract for deed," "installment

More information

SUPREME COURT County of : State of New York VERIFIED ANSWER TO FORECLOSURE COMPLAINT. Defendant(s). Defendant answers as follows: General Denial.

SUPREME COURT County of : State of New York VERIFIED ANSWER TO FORECLOSURE COMPLAINT. Defendant(s). Defendant answers as follows: General Denial. SUPREME COURT County of : State of New York v. Plaintiff, Defendant(s). Index No.: VERIFIED ANSWER TO FORECLOSURE COMPLAINT Defendant answers as follows: General Denial. Plaintiff, upon information and

More information

NC General Statutes - Chapter 45 Article 9 1

NC General Statutes - Chapter 45 Article 9 1 Article 9. Instruments to Secure Equity Lines of Credit. 45-81. Definitions. The following definitions apply in this Article: (1) Authorized person. Any borrower; the legal representative of any borrower;

More information

CHICAGO TITLE INSURANCE COMPANY

CHICAGO TITLE INSURANCE COMPANY CHICAGO TITLE INSURANCE COMPANY TOPIC: Condominium and Planned Community Assessments- Lien Priority Issues By: Mark Griffith State Underwriting Counsel, Chicago Title Insurance Company Homeowner association

More information

3/24/15. Daniel P. Lindsey 312.347.8365 dlindsey@lafchicago.org. } Collection action (on a note) } Enforcing a security instrument (mortgage)

3/24/15. Daniel P. Lindsey 312.347.8365 dlindsey@lafchicago.org. } Collection action (on a note) } Enforcing a security instrument (mortgage) Daniel P. Lindsey 312.347.8365 dlindsey@lafchicago.org } Note } Mortgage } Default } Acceleration } Foreclosure } Reinstatement } Redemption } Lien priority (senior/junior, first/second) } HELOC (Home

More information

SUMMARY MICHIGAN STATUTES CHANGE TO FORECLOSURE BY ADVERTISEMENT PROCEDURES EXECUTIVE SUMMARY

SUMMARY MICHIGAN STATUTES CHANGE TO FORECLOSURE BY ADVERTISEMENT PROCEDURES EXECUTIVE SUMMARY ATTORNEYS MICHAEL A. KUS MICHAEL J. RYAN MARSHA J. GRECO JEFFREY S. HOROWITZ ANTHONY E. VALENTINE DANA K. PEZNOWSKI OF COUNSEL JAMES C. ROSE THOMAS G. SCHLUENTZ This publication is for information purposes

More information

IN THE CIRCUIT COURT, SIXTH JUDICIAL CIRCUIT IN AND FOR PASCO AND PINELLAS COUNTIES, FLORIDA ADMINISTRATIVE ORDER NO PA/PI-CIR

IN THE CIRCUIT COURT, SIXTH JUDICIAL CIRCUIT IN AND FOR PASCO AND PINELLAS COUNTIES, FLORIDA ADMINISTRATIVE ORDER NO PA/PI-CIR IN THE CIRCUIT COURT, SIXTH JUDICIAL CIRCUIT IN AND FOR PASCO AND PINELLAS COUNTIES, FLORIDA ADMINISTRATIVE ORDER NO. 2010-025 PA/PI-CIR RE: MORTGAGE FORECLOSURE PROCEDURES In Administrative Order 2009-065,

More information

Georgia 2013 Legislation as of March 14, 2013

Georgia 2013 Legislation as of March 14, 2013 Georgia 2013 Legislation as of March 14, 2013 The Regular 2013 Session for the Georgia General Assembly began in January 2013. Below are updates on the bills of importance to the default servicing community.

More information

The CFPB Finalizes New Mortgage Servicing Rules

The CFPB Finalizes New Mortgage Servicing Rules A DV I S O RY April 2013 The CFPB Finalizes New Mortgage Servicing Rules On January 17, 2013, the Consumer Financial Protection Bureau (CFPB) finalized rules implementing the mortgage loan servicing requirements

More information

Quality Right Party Contact and Borrower Solicitation

Quality Right Party Contact and Borrower Solicitation It is important to establish contact early and often with borrowers who have become delinquent in their mortgage payments and begin considering options that may be appropriate to bring the mortgage current.

More information

A Guide. Representing Yourself in Foreclosure: for Connecticut Homeowners

A Guide. Representing Yourself in Foreclosure: for Connecticut Homeowners Representing Yourself in Foreclosure: A Guide for Connecticut Homeowners Eighth Edition, written and edited by the staff of the Connecticut Fair Housing Center who are solely responsible for its content.

More information

ADVANCED ISSUES IN FORECLOSURE MAZYAR HEDAYAT ESQ.

ADVANCED ISSUES IN FORECLOSURE MAZYAR HEDAYAT ESQ. ADVANCED ISSUES IN FORECLOSURE MAZYAR HEDAYAT ESQ. Page 1 of 13 The Process! Illinois foreclosures governed by Illinois Mortgage Law (735 ILCS 5/15 or IMFL)! process takes on average 9 months, but can

More information

CHAPTER 702 FORECLOSURE OF MORTGAGES, AGREEMENTS FOR DEEDS, AND STATUTORY LIENS. 702.06 Deficiency decree; common-law suit to recover deficiency.

CHAPTER 702 FORECLOSURE OF MORTGAGES, AGREEMENTS FOR DEEDS, AND STATUTORY LIENS. 702.06 Deficiency decree; common-law suit to recover deficiency. Florida Foreclosure is Judicial. Notice of Foreclosure Florida foreclosure begins when the lender files a lawsuit (Lis Pendens) against the homeowner. The homeowners must be notified of the legal action

More information

Re-Employment Rights and the Soldiers' and Sailors' Civil Relief Act (SSCRA)

Re-Employment Rights and the Soldiers' and Sailors' Civil Relief Act (SSCRA) Re-Employment Rights and the Soldiers' and Sailors' Civil Relief Act (SSCRA) RE-EMPLOYMENT Members of the National Guard and Reserves activated for Federal Duty -- their civilian careers and activities

More information

Mortgage Servicing: Loss Mitigation (12 CFR 1024.41)

Mortgage Servicing: Loss Mitigation (12 CFR 1024.41) Mortgage Servicing: Loss Mitigation (12 CFR 1024.41) The Consumer Financial Protection Bureau s (CFPB) new mortgage servicing rule includes requirements and restrictions relating to communicating with

More information

105-374. Foreclosure of tax lien by action in nature of action to foreclose a mortgage.

105-374. Foreclosure of tax lien by action in nature of action to foreclose a mortgage. 105-374. Foreclosure of tax lien by action in nature of action to foreclose a mortgage. (a) General Nature of Action. The foreclosure action authorized by this section shall be instituted in the appropriate

More information

CHAPTER 32-19 FORECLOSURE OF REAL ESTATE MORTGAGES BY ACTION

CHAPTER 32-19 FORECLOSURE OF REAL ESTATE MORTGAGES BY ACTION CHAPTER 32-19 FORECLOSURE OF REAL ESTATE MORTGAGES BY ACTION 32-19-01. Action to foreclose mortgage on real estate authorized. The plaintiff shall bring an action in district court for the foreclosure

More information

Real Property Levy Guide

Real Property Levy Guide Real Property Levy Guide How to use this Guide 1. Become familiar with conducting a basic (or fundamental) real property levy as described in Category C of this Guide. Category C serves as the standard

More information

ARIZONA REVISED STATUTES GOVERNING DEEDS OF TRUST AND NON-JUDICIAL FORECLOSURE A.R.S

ARIZONA REVISED STATUTES GOVERNING DEEDS OF TRUST AND NON-JUDICIAL FORECLOSURE A.R.S ARIZONA REVISED STATUTES GOVERNING DEEDS OF TRUST AND NON-JUDICIAL FORECLOSURE 33-801. Definitions In this chapter, unless the context otherwise requires: 1. "Beneficiary" means the person named or otherwise

More information

S.F. No. 3396, as introduced th Legislative Session ( )

S.F. No. 3396, as introduced th Legislative Session ( ) 1.1 1.2 1.3 1.4 1.5 A bill for an act relating to real property; providing for the Minnesota Subprime Foreclosure Deferment Act of 2008; proposing coding for new law in Minnesota Statutes, chapter 583.

More information

DELINQUENT ASSESSMENT COLLECTION

DELINQUENT ASSESSMENT COLLECTION Salvatori, Wood, & Buckel ATTORNEYS AT LAW 9132 Strada Place, Fourth Floor, Naples, FL 34108-2683 John D. Humphreville Tel: 239.552.4100 Direct Dial: 239.552.4107 Fax: 239.649.1706 jdh@swbnaples.com Web:

More information

Home Affordable Modification Program (HAMP )

Home Affordable Modification Program (HAMP ) Home Affordable Modification Program (HAMP ) Training for Trusted Advisors April 2015 Making Home Affordable Objectives 1 2 3 4 5 6 Step 1 Step 2 Step 3 Step 4 Step 5 7 8 MHA Program Highlights HAMP Overview

More information

STATE OF NEW HAMPSHIRE

STATE OF NEW HAMPSHIRE STATE OF NEW HAMPSHIRE PROBATE COURT PROCEDURE BULLETIN 28 Civil Actions under RSA 547:3 This procedure bulletin is prepared for informational purposes in processing case files. It is not intended to provide

More information

CHAPTER 86. C.46:10B-36 Short title. 1. This act shall be known and may be cited as the Save New Jersey Homes Act of 2008.

CHAPTER 86. C.46:10B-36 Short title. 1. This act shall be known and may be cited as the Save New Jersey Homes Act of 2008. CHAPTER 86 AN ACT concerning certain residential mortgages, and supplementing Title 46 of the Revised Statutes. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey: C.46:10B-36

More information

Loss Mitigation Procedures and Foreclosure Hurdles

Loss Mitigation Procedures and Foreclosure Hurdles Loss Mitigation Procedures and Foreclosure Hurdles Attorney David Pelletier Axley Brynelson, LLP dpelletier@axley.com 608.260.2495 www.axley.com What does the loss mitigation rule require? Rule does not

More information

Foreclosure / Quiet Title / Partition (216) 443-8505 Fax: (216) 698-2990 Courthouse Square 6th Floor 310 W. Lakeside Ave. Cleveland, OH 44113

Foreclosure / Quiet Title / Partition (216) 443-8505 Fax: (216) 698-2990 Courthouse Square 6th Floor 310 W. Lakeside Ave. Cleveland, OH 44113 Foreclosure / Quiet Title / Partition (216) 443-8505 Fax: (216) 698-2990 Courthouse Square 6th Floor 310 W. Lakeside Ave. Cleveland, OH 44113 Chief Magistrate Stephen M. Bucha III Assistant Chief Magistrate

More information

Summary of Mortgage Servicing Rules

Summary of Mortgage Servicing Rules February 12, 2013 Summary of Mortgage Servicing Rules The Consumer Financial Protection Bureau (CFPB) released its final rules on mortgage loan servicing on January 17, 2013. These new national standards

More information

12. Post Sale Functions for FHA & VA Title Package completed Within guidelines upon receipt of conveyance information

12. Post Sale Functions for FHA & VA Title Package completed Within guidelines upon receipt of conveyance information Functions To Be Performed ARIZONA FORECLOSURE TIMELINE File Received 1. Receipt of Referral from Client Trustee Sale Guarantee is 1 Ordered and Statement of Breach and Substitution of Trustee Is prepared

More information

MPF Xtra PFI Advisory

MPF Xtra PFI Advisory MPF Xtra PFI Advisory March 14, 2014 Special Attention: PFI MPF Program Management and Servicing Management Subject: Transfer of Servicing, Lender-Placed Insurance, Bankruptcy and Foreclosure Attorney

More information

GLOSSARY OF COLLECTION LAW TERMINOLOGY

GLOSSARY OF COLLECTION LAW TERMINOLOGY GLOSSARY OF COLLECTION LAW TERMINOLOGY The purpose of this glossary is to assist community association board members and property managers in better understanding legal terms and procedures that are frequently

More information

Fannie Mae Announces New Short Sale Guidelines New Guidelines Streamline Short Sale Processes to Prevent Foreclosures and Help Communities Stabilize

Fannie Mae Announces New Short Sale Guidelines New Guidelines Streamline Short Sale Processes to Prevent Foreclosures and Help Communities Stabilize Fannie Mae Announces New Short Sale Guidelines New Guidelines Streamline Short Sale Processes to Prevent Foreclosures and Help Communities Stabilize WASHINGTON, DC Fannie Mae (FNMA/OTC) announced that

More information

Remedial Action in Texas: Foreclosure and Recent Litigation

Remedial Action in Texas: Foreclosure and Recent Litigation Remedial Action in Texas: Foreclosure and Recent Litigation Kari Robinson John Barnes 713.286.7161 713.210.7441 klrobinson@bakerdonelson.com jbarnes@bakerdonelson.com Kat Statman 713.210.7443 kstatman@bakerdonelson.com

More information

Paul. K. Charlton United States Attorney District of Arizona 40 N. Central, Suite 1200 Phoenix, Arizona 85004

Paul. K. Charlton United States Attorney District of Arizona 40 N. Central, Suite 1200 Phoenix, Arizona 85004 Servicemembers Civil Relief Act (SCRA) Paul. K. Charlton United States Attorney District of Arizona 40 N. Central, Suite 1200 Phoenix, Arizona 85004 Servicemembers Civil Relief Act of 2003 Table of Contents:

More information

Foreclosure Overview

Foreclosure Overview Foreclosure Overview Foreclosure is the legal action that your financial institution can use to take back your home when you miss your monthly mortgage payments. When this happens, you lose your house,

More information

Chapter 30 Home Equity Conversion Mortgages. 47-30-103. Authorized lenders Designation Application.

Chapter 30 Home Equity Conversion Mortgages. 47-30-103. Authorized lenders Designation Application. Chapter 30 Home Equity Conversion Mortgages 47-30-101. Short title. 47-30-102. Definitions. 47-30-103. Authorized lenders Designation Application. 47-30-104. Compliance Noncomplying loans unenforceable

More information

Summary of the proposed changes to the Mortgage Servicing Rules. The Consumer Financial Protection Bureau is proposing several amendments to the

Summary of the proposed changes to the Mortgage Servicing Rules. The Consumer Financial Protection Bureau is proposing several amendments to the Summary of the proposed changes to the Mortgage Servicing Rules The Consumer Financial Protection Bureau is proposing several amendments to the Bureau s Mortgage Servicing Rules under Regulation X, which

More information

This chapter shall be known and may be cited as the "Home Equity Conversion Mortgage Act."

This chapter shall be known and may be cited as the Home Equity Conversion Mortgage Act. Source: http://www.lexisnexis.com/hottopics/tncode/ 47-30-101. Short title. This chapter shall be known and may be cited as the "Home Equity Conversion Mortgage Act." HISTORY: Acts 1993, ch. 410, 2. 47-30-102.

More information

Home Mortgage Foreclosures in Maine

Home Mortgage Foreclosures in Maine Home Mortgage Foreclosures in Maine Find more easy-to-read legal information at www.ptla.org Important Note: This is very general information about home mortgage and foreclosure rules in Maine. It is not

More information

Law on Mortgage of Immovable Property in Banking Transactions Chapter One General Provisions

Law on Mortgage of Immovable Property in Banking Transactions Chapter One General Provisions Law on Mortgage of Immovable Property in Banking Transactions Chapter One General Provisions Necessity of Creation of Law Article 1: This law is created to regulate the affairs relating to mortgage of

More information

Glossary of Foreclosure Fairness Mediation Terminology

Glossary of Foreclosure Fairness Mediation Terminology Glossary of Foreclosure Fairness Mediation Terminology Adjustable-Rate Mortgage (ARM) Mortgage repaid at the rate of interest that increases or decreases over the life of the loan based on market conditions.

More information

LOCAL BANKRUPTCY RULE PROCEDURES REGARDING CHAPTER 13 CASES

LOCAL BANKRUPTCY RULE PROCEDURES REGARDING CHAPTER 13 CASES LOCAL BANKRUPTCY RULE 3015-1 PROCEDURES REGARDING CHAPTER 13 CASES (a) APPLICABILITY Except as provided herein, this Rule relates to chapter 13 cases in all divisions of the bankruptcy court and supersedes

More information

SERVICEMEMBERS CIVIL RELIEF ACT

SERVICEMEMBERS CIVIL RELIEF ACT 7 th JMTC Legal Assistance Information SERVICEMEMBERS CIVIL RELIEF ACT Please note that this Information Paper only provides basic information and is not intended to serve as a substitute for personal

More information

Scott County Collector Mark Hensley. Delinquent Tax Certificate Sale

Scott County Collector Mark Hensley. Delinquent Tax Certificate Sale Scott County Collector Mark Hensley Delinquent Tax Certificate Sale Revised 7-27-15 7/27/2015 1:40 PM Dear Potential Delinquent Tax Certificate Sale Participant: THANK YOU for your interest in the 2015

More information

CitiMortgage Home Affordable Foreclosure Alternative (HAFA) Matrix

CitiMortgage Home Affordable Foreclosure Alternative (HAFA) Matrix CitiMortgage Home Affordable Foreclosure Alternative (HAFA) Matrix All servicers that have signed agreements with the U.S. Department of the Treasury (Treasury) to participate in the Home Affordable Modification

More information

Bill Description Category Notes/Status

Bill Description Category Notes/Status OLTA Legislative Committee 2013 Bills Enacted - Sorted by Bill Number As of 01-Sep-13 Asterisk () - See Addendum - Summary of Bills Affecting Real Property Foreclosures Status: SG:Signed by Governor Bill

More information

IN THE CIRCUIT COURT OF THE THIRTEENTH JUDICIAL CIRCUIT IN AND FOR HILLSBOROUGH COUNTY, FLORIDA GENERAL CIVIL DIVISION

IN THE CIRCUIT COURT OF THE THIRTEENTH JUDICIAL CIRCUIT IN AND FOR HILLSBOROUGH COUNTY, FLORIDA GENERAL CIVIL DIVISION IN THE CIRCUIT COURT OF THE THIRTEENTH JUDICIAL CIRCUIT IN AND FOR HILLSBOROUGH COUNTY, FLORIDA GENERAL CIVIL DIVISION Plaintiff(s), v. Defendant(s). / CASE NO.: GENERAL CIVIL DIVISION: UNIFORM FINAL JUDGMENT

More information

LIQUIDATION UNDER CHAPTER 7 QUESTIONS AND ANSWERS ABOUT CHAPTER 7 BANKRUPTCIES 1

LIQUIDATION UNDER CHAPTER 7 QUESTIONS AND ANSWERS ABOUT CHAPTER 7 BANKRUPTCIES 1 LIQUIDATION UNDER CHAPTER 7 QUESTIONS AND ANSWERS ABOUT CHAPTER 7 BANKRUPTCIES What is a Chapter 7 bankruptcy case and how does it work? A Chapter 7 bankruptcy is a proceeding under federal law in which

More information