July 8, 2022
National Mortgage News
The Second Circuit’s recent decision in a real estate foreclosure dispute is a reminder that the courts tend to take an expansive view on bankruptcy-related restrictions to foreclosure, Partner Stephen Newman tells National Mortgage News.
“This is yet another message from the courts to the effect of: ‘If there’s a bankruptcy anywhere near the transaction, file a formal motion to lift the automatic stay,’” Stephen says.
In the case, Bayview Loan Servicing v. Eileen Fogarty, the appeals court found that the mortgage company “willfully” violated an automatic foreclosure stay by proceeding despite its awareness of the petition, National Mortgage News reports.
Click here to read more. (Subscription required).
July 8, 2022
National Mortgage News
The Second Circuit’s recent decision in a real estate foreclosure dispute is a reminder that the courts tend to take an expansive view on bankruptcy-related restrictions to foreclosure, Partner Stephen Newman tells National Mortgage News.
“This is yet another message from the courts to the effect of: ‘If there’s a bankruptcy anywhere near the transaction, file a formal motion to lift the automatic stay,’” Stephen says.
In the case, Bayview Loan Servicing v. Eileen Fogarty, the appeals court found that the mortgage company “willfully” violated an automatic foreclosure stay by proceeding despite its awareness of the petition, National Mortgage News reports.
Click here to read more. (Subscription required).
