Bank that initiated foreclosure action not subject to state debt-collection law

Depending on the state you live in, the bank may pursue deficiency judgments if they are unable to sell the home at auction for what they are owed on the mortgage. The bank may pursue a non-judicial foreclosure or judicial foreclosure depending on where the property is located. The bank can pursue a court order to shorten the redemption period to five weeks if the property is vacant.

McCarthy & Holthus LLP 1, the issue of whether a law firm carrying out a non-judicial residential foreclosure is a "debt collector" under the FDCPA. The Court ruled that such a law firm is not a debt collector, and therefore, is not subject to many of the rules and regulations that would otherwise apply under the FDCPA.

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Appeals Court Rules Foreclosures are "Debt Collection" Under FDCPA. The U.S. Court of Appeals for the Sixth Circuit Monday handed down an opinion that defined mortgage foreclosure actions as "debt collection" under the Fair Debt Collection Practices Act (FDCPA), reversing a lower court.

On Friday, September 13, the Alabama Supreme Court issued three significant opinions concerning Alabama’s law of foreclosure and ejectment. Although those decisions put to rest some of the uncertainty concerning the jurisdictional nature of defenses to an ejectment action and when a foreclosure actually takes place, they raise new issues concerning standing in general and foreclosures.

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Debt Buyers: Last Week Tonight with John Oliver (HBO) interests are not engaging in debt collection generally, foreclosure counsel may be subject to FDCPA liability if they send any sort of letter or notice that is not strictly required by the state’s governing foreclosure law. 2. If a law firm engaging in foreclosure is subject to the FDCPA, what are the ramifications for its practice? If a law.

Tuesday, August 2, 2016 Bank that initiated foreclosure action not subject to state debt-collection law By Thomas G. Wolfe, J.D.

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Statute of Limitations in Foreclosures – What is the state of the law? Deutsche Bank v. Beauvais or US Bank v. Bartram.. the first foreclosure action is not barred by the statute of limitations found in section 95.11(2)(c), Florida Statutes, provided the subsequent foreclosure action on the.

If the Senate GOP bill becomes law, premiums are expected to rise and millions would likely opt not. firm’s foreclosure practices. The vote was 54-43, with two Democrats voting in favor of.