Mortgage loans don’t always remain with the same lender or servicer from loan origination through payoff. Loans can be assigned, transferred to new servicers, acquired by investors, or a successor trustee may be appointed before foreclosure is on the table.…
Mortgage payment histories can become complicated well before foreclosure begins. Payments may be transferred between servicers, held in suspense, applied to escrow shortages, reversed, or accompanied by account adjustments. If a borrower later disputes how much they owe, a basic…
Unpaid invoices or bills can disrupt cash flow, strain business and client relationships, and consume valuable staff time. Collection agencies and collections attorneys can both help businesses pursue overdue accounts, but they serve different purposes. While collection agencies generally try…
Affidavits play a critical role in foreclosure litigation. They provide sworn support for default, payment history, note possession, servicing authority, notice compliance, and the right to foreclose for lenders, servicers, and trustees. When affidavits are accurate, they keep a case…
Automated mortgage servicing systems maximize speed and convenience for servicers. Without any intervention, they can advance foreclosure timelines, update payment amounts, assess fees, and route accounts through various stages of collection. However, the same features that make these systems convenient…
Many North Carolina foreclosures go through a process known as power of sale foreclosure. Because this is a nonjudicial process that doesn’t start in a conventional courtroom, borrowers may assume that the outcome is already decided. But before the foreclosure…
Tennessee’s non-judicial foreclosures allow lenders to proceed without filing a lawsuit; the result is a faster and more streamlined process. But to benefit from this efficiency, lenders must comply with statutory and contractual notice requirements. Failing to meet these requirements…
Foreclosure is an essential legal remedy available to lenders when a borrower defaults. In North Carolina, most foreclosures occur via power of sale foreclosure, a non-judicial process. This process is significantly more efficient than judicial foreclosure, but it is crucial…
Foreclosure is the main legal remedy available to lenders once a borrower defaults on their mortgage. Tennessee typically allows foreclosures to proceed via a non-judicial process, rather than requiring lenders to file a lawsuit. This process is more streamlined and…
When a Tennessee borrower stops making mortgage payments, the situation may escalate quickly. This is particularly true in Tennessee, where foreclosure is typically nonjudicial. For mortgage servicers, a missed payment may trigger a series of automated notices and communications to…