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- March 18, 2016
17 views 21 sec

Where Does the Money Go? Maybe We Should Ask the Michigan Legislature. . .

In Michigan, foreclosure is not only a contractual right, but a statutory right as well. Michigan is primarily a foreclosure by advertisement state; however, foreclosure may proceed through the court system as well. This is referred to a judicial foreclosure.  Read the article………….

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- February 16, 2016
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Appellate Ruling Illustrates Importance of Proper Service of Process and Procedural Steps in Foreclosure Cases (FL)

Associations have been counseled for the last several years to move quickly to foreclose on units in cases of prolonged lender foreclosures so that they could utilize these residences to reap rental income while the bank cases languish.    Read the article………..

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- February 8, 2016
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Florida Lenders Not Required to Compete with Homeowner Associations to Foreclose Where Lender’s Lis Pendens is Recorded First

It is not uncommon for a homeowner association (“HOA”) to file a separate claim of lien foreclosure action against a resident even though the bank’s mortgage foreclosure action remains pending. Therefore, a homeowner can potentially face two foreclosure actions against the property at the same time    Read the article………..

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- February 5, 2016
34 views 19 sec

Nevada Supreme Court Opinion Impacts HOA Foreclosure Litigation

The Nevada Supreme Court held in SFR Investments Pool 1, LLC. v. U.S. Bank, N.A. that a non-judicial foreclosure by an HOA generally extinguishes a first mortgage interest, however, it left several unresolved issues.   Read the article………….

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- April 14, 2015
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Non-Judicial Foreclosure in North Carolina: The Limited Scope of the Hearing Before the Clerk of Court in Condominium or Homeowner Association Foreclosures

Contrary to popular belief, most property owners fulfill their financial obligations to their association. As a result, the number of actual association foreclosures is very, very small. Of that percentage, almost nobody wakes up in the morning and decides to stop paying a mortgage or condominium or homeowner association dues. The facts of life, however, […]

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- April 13, 2015
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Why Community Associations Cannot Afford to Ignore Lender Foreclosure Actions: Part IV

This blog post is part IV in a series of posts discussing why community associations cannot afford to ignore lender foreclosure actions. The underlying theme of this series is that associations have a financial interest and lien rights in their properties and by ignoring lender foreclosure actions, associations are ignoring their own financial interests and […]

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- March 20, 2015
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Why Community Associations Cannot Afford to Ignore Lender Foreclosure Actions – Part II

This blog post is part II in a series of posts discussing why community associations cannot afford to ignore lender foreclosure actions.  The underlying theme of this series is that associations have a financial interest and lien rights in their properties and by ignoring lender foreclosure actions, associations are ignoring their own financial interests and […]

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