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It's important to record the trustee's deed promptly after foreclosure

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • September 13 2011

The United States Bankruptcy Court for the Central District of California recently held that the filing of a bankruptcy petition by a borrower can void a trustee sale even where the petition is filed after the trustee sale, so long as the borrower files the petition before the execution of the trustee's deed upon sale

The importance of comfort letters in financing franchised hotels

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • March 7 2014

Comfort letters are more important than ever as franchising continues to be a dominant form of branding hotels. As many of our recent Articles have

Planned use of eminent domian powers to condemn underwater mortgages faces uncertain constitutional outcome

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • August 13 2013

Amidst reports of rising home prices throughout California and fears of a new housing bubble, controversial plans floated by California cities to

Buying a hotel? Financing a hotel? 10 things every borrower should know (Part 2)

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • December 13 2012

The loan documents may restrict the borrower from having any indebtedness other than the mortgage loan, with an exception for a limited amount of accounts payable that may be outstanding for a short time (consistent with the normal payment cycle -- such as 60 days), as long as the indebtedness is not evidenced by a promissory note

Foreclosing on an assisted living facility: what is the lender's role? Who is responsible for patients?

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • August 28 2012

Smaller, home-like assisted living facilities are increasingly common today for America's aging population

Buying a hotel? Financing a hotel? 10 things every borrower should know. (part 1)

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • December 8 2012

Hotels are operating businesses, but for lending purposes, hotels have traditionally been financed as real estate

Class action defense cases - In Re Community Bank: Third Circuit court again reverses approval of class action settlement holding wrong legal standard applied to determine adequacy of representation

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • October 4 2011

District court applied wrong legal standard in finding named plaintiffs and their counsel to be adequate representatives of the proposed class under Rule 23(a)(4) and thus abused its discretion in certifying class and approving nationwide class action settlement Third Circuit holds

Lenders: beware of the “two-dollar bankruptcy”

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • February 7 2013

Most lenders usually only involve legal in problematic or highly-complicated transactions; otherwise, business would grind to a halt. Most loan

Short sale legislation progress report: legislation to correct misguided statute enacted to govern short sales

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • March 15 2011

Last year, the California Legislature enacted a statute that prohibits a deficiency judgment under a note secured by a first deed of trust against a dwelling of not more than four units that is sold at a short sale with a written consent of the lender

What every hotel lender needs to know about hotel due diligence

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • August 31 2011

Underwriting a hotel loan is different than underwriting a real estate loan