Licensing in Bankruptcy Published in: NABT American Bankruptcy Trustee Journal The Official Publication of the National Association of Bankruptcy Trustees Volume 38, Issue 02, Spring 2022 By Scott Douglass, Patterson Intellectual Property Law, P.C., Nashville, Tennessee, Dominic Rota, Esquire, Patterson Intellectual Property Law, P.C., Nashville, Tennessee and Michael Wennerlund, Esquire, Bell, Carrington, Price & Gregg, […]
South Carolina Court of Appeals Protects Junior Lienholder Winning Bidder At Foreclosure Sale In an unanimous decision, the South Carolina Court of Appeals protected a lender that held a second mortgage lien position when that lender purchased the secured property at a foreclosure sale and the lender’s bid created surplus funds. See Wells Fargo Bank, N.A. […]
The Rules of Civil Procedure Do Not Apply to Non-Judicial Foreclosure Author: Aaron Seagroves, Esq. The rules governing non-judicial foreclosures in North Carolina have undergone drastic changes in wake of the recently published opinion, In re Foreclosure of Lucks, released by the North Carolina Supreme Court. Accordingly, the North Carolina Supreme Court has announced that […]
SCRA renewal and update President Obama recently signed into law the renewal of the “Foreclosure Relief and Extension for Service Members Act of 2015.” The renewal of the law allows a court to stay – for one year after a service member’s military service – any proceeding that enforces an obligation on real or personal […]
Wells Fargo Chapter 13 violations Washington, D.C. – The Department of Justice (DOJ) entered into a class action settlement with Wells Fargo Bank, N.A. (Wells Fargo) on November 5, 2015 ending a case whereby the defendant, Wells Fargo, was accused of failing to notify homeowners with legally mandated disclosures relating to the increase in their […]
The Gathering Storm: HELOC Resets Home equity lines of credit are in resurgence, originations outpacing recent years without showing signs of slowing. Through June 2015 alone, new HELOCs rose almost 15% over comparable periods and exceeded the 2014’s dollar limit by 24%. Despite this growth, underwriting standards seem to remain high, with only 1.5% of […]
In North Carolina a Guarantor can Invoke Defenses to a Deficiency Judgment Branch Banking and Trust Company v. Hui S. Smith et al. The defendant Mounib Aoun executed a guaranty in the amount of $418,750.00 (plus interest, costs, and fees) for a loan Garrett Enterprises, LLC, secured by real estate of the LLC. In 2012, […]
Standard for Reformation of a Deed of Trust in North Carolina Wells Fargo Bank, N.A. v. Coleman Wells Fargo filed to foreclose on the Colemans’ property in 2010, due to the Colemans’ default on a 2007 deed of trust. Wells Fargo then noticed that the deed of trust referenced the book and page and tax […]
Expedited Foreclosure Law for Abandoned Properties Effective 6.2.2014 (Bill H. 4670) The South Carolina Code was amended to add a new section for the stated purpose of creating an “expedited foreclosure process” for abandoned properties. While it remains to be seen how this process will be implemented by the courts, a strict reading of the […]
