What options does a creditor have after a borrower defaults?
There are a variety of legal mechanisms by which a creditor can assert the legal right to recover an unpaid debt. LawInfo Lead Counsel qualified real estate attorneys provide quality representation for banks, pension funds, insurance companies and other institutional lenders, and worked on all property types from singlefamily suburban land development to downtown office buildings in negotiated restructurings, bankruptcies and foreclosures of distressed investments. They are well versed in the specific laws and legal techniques associated with distressed real estate loans, including:
· Mortgage foreclosure
· Consent foreclosure
· Deed in lieu of foreclosure
· Single asset bankruptcy, including "cram down" analysis, lift stay and bad faith filing
· Uniform Commercial Code (UCC) sales
· Negative amortization
· Springing guarantees
· Consolidations and spreaders
· Lock boxes
· Participating mortgages
· Debt to equity conversions
· Secured debt to mezzanine conversions
· Mezzanine debt foreclosure
· Debt sales
· Receivership Mortgagee in possession
· Nonrecourse carveout analysis and collection
· Ground lease terminations
The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.
Additional Civil Mortgage Loan Fraud Articles
- What is a loan modification, and how will it help me with my mortgage?
- What do I need to give to my loan servicer if I am requesting a loan modification?
- Will I be ineligible for a loan modification under the Homeowner Affordability and Stability Plan if I am current in my mortgage payments?
- What is required of me to get a loan modification? Will it cost me anything?
- Does a loan modification reduce the amount of money that I owe on my mortgage loan?