UPDATE: Extinguishing Condominium Liens through Foreclosure in Illinois
In December 2015, the Illinois Supreme Court held that the lien created by unpaid assessments of a prior owner of a condominium may only be fully extinguished through payment by the purchaser of the property of the monthly fees assessed the month following the judicial foreclosure sale. 1010 Lakeshore Association v. Deutsche Bank National Trust Company, as Trustee for Loan Tr 2004-1, Asset-Backed Certificates, Series 2004-1, 2015 IL 118372. 1010 Lakeshore arose from a lawsuit
Connections to Success
Starting in 1998 in St. Louis and 2004 in Kansas City, this organization’s vision is to “be the leader in empowering individuals in their transformation to economic independence”. Their mission is to “inspire families to realize their dreams and achieve economic independence by providing hope, resources, and a plan”. With Connections to Success having offices in both Kansas City and St. Louis, this will be the first opportunity for Martin Leigh to support the same charity i
Attorney Jillian Murphy Volunteers at Illinois Youth & Government Organization
Washington, D.C. – Jillian Murphy, Associate Attorney, St. Louis office, volunteered her time with the Illinois Youth & Government Organization this past weekend. She assisted with the program’s student attorneys for a delegation in the Metro East. The program is designed for high school students and gives them an opportunity to work as legislators, press, lobbyists, or attorneys. The group meets throughout the school year, and every March the organization takes over both the
Illinois Legislative Update - Illinois Mortgage Foreclosure Law
On January 18, 2017, Sen. Pamela J. Althoff introduced a senate bill (“SB 192”) that would amend section 15-1506 of the Illinois Mortgage Foreclosure Law of the Code of Civil Procedure, by introducing the burden of proof that parties would have to meet at trial. (735 ILCS 5/15-1506). Section 1506(a) in its current version states “[i]n the trial of a foreclosure, the evidence to support the allegations of the complaint shall be taken in open court …” Although the vast majority
Default Attorney Group Welcomes New Member, eXL Legal, PLLC
Default Attorney Group (“DAG”), a consortium of leading creditor rights law firms from across the United States, welcomes eXL Legal, PLLC (“eXL Legal”) to its membership. eXL Legal is a full service law firm, excelling in default legal representation for over 20 years. “We look forward to the contributions of eXL Legal and are proud to have a respected and long-standing firm join our mission. The members of eXL Legal are engaged and bring a renewed energy to our education pl
Elimination of Dower in Michigan
On January 6, 2017, Michigan Governor Rick Snyder signed into law a package of bills eliminating statutory and common law dower rights. The law takes effect on April 7, 2017, with an exception made for dower rights elected by a woman whose husband died before the law’s effective date. BACKGROUND
The concept of a dower interest in real property dates back centuries to a time when women could not own property or amass personal wealth. In Michigan, dower rights were the traditi
Potestivo & Associates, P.C Attorney Attends ALFN WillPower Advocacy Day
Washington, D.C. – Kimberly J. Goodell, Supervising Attorney, attended the American Legal & Financial Network’s (ALFN) WillPower Summit & Advocacy Day in the Nation’s Capital earlier this week. The WILL (Women in Legal Leadership) organization was formed to promote leadership in the default industry. The Summit focused on empowering women to take chances, steps to move forward in their careers, and discussions about getting more females into leadership positions within firms
The 8th Circuit Court of Appeals Affirms Borrower’s $500,000 Judgment for Actual and Punitive Damage
In March 2017 the 8th Circuit Court of Appeals affirmed a borrower’s $500,000 judgment against a loan servicer-- $400,000 of the judgment was for punitive damages. See May v. Nationstar Mortgage, LLC, ____ F.3d _____ (8th Cir. 2017). The case arises from a 2007 loan that the borrower used to purchase a home in Missouri. Soon after the entering the 2007 loan, the borrower filed a Chapter 13 Bankruptcy. The borrower entered into a 5-year payment plan to pay down the loan’s
FeinSuch Introduces New Attorney
Parsippany, NJ – FeinSuch is pleased to announce the addition of Alan S. Golub! Mr. Golub represents his clients in a variety of complex commercial litigation and transactional matters. Mr. Golub further counsels his clients on insurance coverage issues, contractual disputes, business transactions, and trademark, service mark, and copyright issues. He serves as international trademark counsel to several global corporations with business interests in the United States. In 2007
