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Fox Rothschild LLP | USA | 27 Feb 2017

Continuing is key: Statute of limitations no bar to re-filed foreclosure if default is continuing

In late-2016, the Florida Supreme Court finally addressed the application of the statute of limitations in a re-filed mortgage foreclosure action. In


Fox Rothschild LLP | USA | 6 Feb 2013

Standing to commence foreclosure

For mortgage loans that have been bundled into mortgaged backed securities and other collateralized debt obligations ("collectively, "CDO's"), the


Fox Rothschild LLP | USA | 28 Jan 2013

New appraisal standards approved for higher-risk mortgages

A new rule passed Jan. 15 gives mortgage lenders an additional year to institute appraisal standards for higher-risk loans. Six agencies were


Fox Rothschild LLP | USA | 24 Jan 2013

New Jersey Courts continue to support unsuspecting mortgage lenders

Mortgage priority lawsuits continue to attract the attention of the New Jersey courts. In that context, the theory of equitable subrogation continues


Fox Rothschild LLP | USA | 18 Dec 2012

Montgomery County Recorder of deeds challenges MERS system for handling assignments of mortgage

An interesting challenge is being played out in the federal court in Pennsylvania regarding the way most mortgage assignments are now handled within the land record system.


Fox Rothschild LLP | USA | 12 Dec 2012

Unlicensed mortgagee illegal mortgage?

The Appellate Division recently issued its decision in GMAC Mortgage, LLC v. Clyde Fraser and Toye Fraser, and held that financing by an unlicensed financial entity does not render the debt instruments illegal and unenforceable against the borrower.


Fox Rothschild LLP | USA | 26 Nov 2012

Acceptance of late payments loan modification?

The Appellate Division recently issued its decision in Bank of America, N.A. v. Princeton Park Associates, L.L.C. and considered whether acceptance of late payments by a lender modified the terms of the loan documents and constituted a waiver of the lender's rights


Fox Rothschild LLP | USA | 19 Nov 2012

Rights and obligations of landlords and tenants when leased premises suffers casualty damage caused by Hurricane Sandy

The obligations of a landlord as an owner of a commercial property (i.e., office, retail, manufacturing facility, warehousedistribution facility, etc.) to repair and restore casualty damage to such property are found in two documents pertaining to the property (i) a mortgage and security agreement constituting a lien on the property when recorded in the County Clerk’s office where the property is situate and (ii) a lease between the landlord and tenant.


Fox Rothschild LLP | USA | 8 Nov 2012

New Jersey court rules receiver can be liable for personal injury

The New Jersey Appellate Court has recently ruled that a receiver can be sued for injuries sustained in a building under the receiver’s control.


Fox Rothschild LLP | USA | 26 Oct 2012

Transition of control in a condominium

Gurriere v. Brookdale Condominium Associates, Superior Court of New Jersey, Chancery Division, Essex County, Docket No. C-143-00 (2012) involves the interpretation of the portion of the Condominium Act that governs the transition of control over a condominium from the sponsor to the other unit owners.

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