Category: foreclosure

Real Estate News – January 29, 2012

Robo-Reality: Final Foreclosures Fall as Pipeline Swells (via CNBC.com): http://bit.ly/wzBJRU CEO of Virginia Foreclosure Rescue Fraud Sentenced to Prison (via LoanSafe.org): http://bit.ly/zzirPE Foreclosure watch: In latest banking debacle, homeowners fight mortgages they thought they’d paid off (via oregonlive.com): http://bit.ly/yvjR6k Attorney

Posted in Blog, foreclosure, Real Estate Law

Real Estate News – January 26, 2012

Foreclosures are getting faster at JPMorgan Chase and Wells Fargo. The two big banks trimmed their foreclosure timelines by as much as 100 days in the third quarter of 2011, helping to work through major backlogs of foreclosed loans, according

Posted in Blog, commercial leases, foreclosure, Homeowners Associations, Real Estate Law

What Happens When a Tornado Rolls Through a Neighborhood in Foreclosure?

On May 22, 2011, scores of homes in North Minneapolis were obliterated by a devastating tornado.  News footage showed a path of destruction that looked like a war zone with large trees felled, houses without roofs, broken windows and crushed

Posted in Blog, foreclosure, housing crisis, Real Estate Law

When Commercial Real Estate Loans Go Bad

[NOTE:  This post originally appeared on The Vanilla Shell on September 4, 2010]Comparing  the options available to lender and borrower between residential loan defaults and commercial loan defaults  is like comparing apples and oranges.   When a commercial real estate loan

Posted in Blog, foreclosure, Real Estate Law

Why “Produce the Note” Doesn’t Work All That Well in Minnesota

Last month the Massachusetts Supreme Court rendered a very significant decision in a case entitled U.S. Bank National Association vs. Ibanez .  This case is being closely watched around the country, particularly by advocates of a theory of foreclosure defense called

Posted in Blog, foreclosure, Real Estate Law

The Price of Walking Away From a Mortgage

I counsel a lot of clients and potential clients who have fallen behind on a mortgage.  Some of these are homeowners and many of them are investors who have fallen on hard times with rental properties.  There are a number

Posted in Blog, foreclosure, Real Estate Law

Can a Foreclosing Lender Enter a Property During the Redemption Period?

In Minnesota, foreclosures work a bit differently than other states.  Not only does Minnesota have a non-judicial foreclosure process (unlike most states which only allow foreclosures to be brought by court action), but Minnesota is also one of only ten (10)

Posted in Blog, foreclosure, Real Estate Law, redemption

Foreclosure Redemption in Minnesota: How to Redeem by Buying a Judgment Lien

Real estate investors in today’s market are commonly involved in purchasing properties which are in foreclosure.  However, with short sales having a low success rate, most Minnesota investors look for ways to get in line behind the owner and other

Posted in Blog, foreclosure, Real Estate Law

The Trouble With Post-Sale Redemption Rights

Today’s StarTribune carried an article about a common problem with the current real estate market:  who takes care of a foreclosed property after the foreclosure sale?  Minnesota is one of only ten (10) states which provides for post-sale redemption rights.  Other states allow

Posted in Blog, foreclosure, Real Estate

Enough is Enough

Last week I was on the phone with an attorney who represents one of the big lenders in town.  I was calling him to check on the status of a settlement in a small matter involving his big lender client

Posted in Blog, foreclosure, Law, Real Estate