LENDER AND BUYER BEWARE: PRIOR OWNER’S OBLIGATIONS TO A HOMEOWNERS’ ASSOCIATION MAY SURVIVE FORECLOSURE ACTION

By: Andrew L. Unterlack, Esquire Eisenberg, Gold & Agrawal, P.C. In the event a borrower fails to pay their mortgage, the Lender often proceeds with a Foreclosure Action. The culmination of the Foreclosure Action is the Sheriff’s Sale, which results in a Sheriff’s Deed transferring title to the property to the Lender or a third-party […]

TO CLAIM OR NOT TO CLAIM, THAT IS THE QUESTION – IMPLICATIONS OF RULE 3003 (FILING PROOF OF CLAIM IN CHAPTER 11 REORGANIZATION CASES)

By: Andrew L. Unterlack, Esquire Eisenberg, Gold & Agrawal, P.C. The generally followed “best practice” is for a Creditor to always and immediately file a Proof of Claim in all Chapter 7 (Asset Cases), Chapter 11 and Chapter 13 proceedings. However, is the filing of a Proof of Claim required to protect and preserve the […]