The Performing Non-Performing Loan: The Paradox Destoying Real Estate Wealth

The bank expects the client to pay the loan in full in a real estate market where the client cannot sell the property and cannot refinance the property with another bank because banks today are reluctant to extend new credit. The client wonders why his loan which has always been paid on time is suddenly …

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Mortgage Foreclosure: Second Mortgage Lender Sues Directly On Promissory Note Instead Of Deficiency Action

I have reported recently that some second mortgage lenders have become more aggressive by suing defaulting homeowners personally for a deficiency judgment. I recently received an email from a litigation attorney representing New York residents who purchased an investment home in Florida subject to a first and second mortgage. I had referred the client for …

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Liability For HOA Or Condo Association Dues After Foreclosure

Several people who are contemplating voluntary foreclosure have asked me whether they should continue paying their homeowner or condominium dues during the foreclosure process. I have recommended that homeowners stop paying homeowner dues if they are voluntarily surrendering their homes to their mortgage lender.

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