Sturgis Building v. Kirsch Industrial Park: Unpublished But Thoroughly Persuasive
When it comes to foreclosures, Michigan is a hybrid state with respect to statutory remedies allowed to mortgagees following a mortgagor’s default on a mortgage. Foreclosure by advertisement and judicial foreclosure are both remedies available to mortgagees under Michigan’s statutory scheme. Sturgis Building v Kirsch Industrial Park, 2016 Mich App LEXIS 1491 discusses not only the differences that exist between foreclosures by advertisement and judicial foreclosures, but the
Avoiding Liability For Damages Under the Protecting Tenants In Foreclosed Rental Properties Ordinanc
In 2013, the City of Chicago developed an ordinance concerning tenants in foreclosed rental properties. Section 5-14-010 of the ordinance states that the purpose of the ordinance is to, ”protect and promote the health, safety and welfare of [the City’s] residents and mitigate the damaging effects…of foreclosures.” Further, section 5-14-020 puts responsibilities on property owners who purchase a property via judicial sale, deed in lieu, and consent foreclosure. At the end o
Defending Baseless Consumer Finance Lawsuits After Spokeo v. Robins
Lawsuits against lenders and their attorneys under consumer protection laws such as the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Truth In Lending Act (TILA), and Real Estate Settlement Procedures Act (RESPA) have been on the rise. Although in proper circumstances these statutes serve an important and legitimate purpose, unfortunately, they are often used by conniving plaintiffs to stall foreclosures or coerce a settlement against an entit
LOCAL UPDATE: Cook County General Administrative Order No. 2016-03, Reformation of Legal Description
On April 7, 2016, Cook County enacted General Administrative Order No. 2016-03 which details the requirements for motions to reform legal descriptions in mortgage foreclosure cases. Reformation counts have become increasingly more frequent in mortgage foreclosure cases over the past few years. This is mostly due to the fact that many investors will not accept indemnification letters from title companies for incorrect legal descriptions Lenders’ and servicers’ counsel are oft
