When the Gavel Falls After Foreclosure Sales

first_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago When the Gavel Falls After Foreclosure Sales Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago 2020-01-14 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post This feature originally appeared in the January issue of DS News, out now.In October 2019, default service attorneys throughout the Eleventh Circuit breathed a collective sigh of relief when the Hon. Jerry C. Oldshue, presiding over the Southern District of Alabama, issued an opinion in In re Russell, No. 19-11514-JCO (Bankr. S.D. Ala 2019) that upheld the long-standing “gavel rule.” In Russell, the court determined whether, during the period of time between a foreclosure sale and the execution and delivery of the foreclosure deed from that sale, a debtor can cure his mortgage arrears through a bankruptcy plan. The court held that the “gavel rule”—which states that a debtor’s right to cure and maintain no longer exists after the foreclosure sale—remains the correct legal standard for determining a debtor’s interest in a foreclosed property. Moreover, the court clarified, the “gavel rule” earns its name: the debtor’s right to cure ends with the literal fall of the gavel at the time of the foreclosure sale, not any point afterward.The facts in Russell, while straightforward, presented an opportunity to clarify an area of Alabama law that had become murky in recent years. In Russell, after a debtor defaulted on his mortgage, the bank conducted a valid foreclosure sale. Four days after the sale, the debtor filed a Chapter 13 bankruptcy petition in which he attempted to cure his mortgage arrears through the plan. Thereafter, the foreclosure deed was executed and recorded. Because the debtor had filed for bankruptcy after the sale but before the deed was executed and recorded, the bank filed a motion to confirm the validity of the foreclosure sale and sought relief to proceed with an ejectment action. The Russell court granted the motion, issuing a 14-page opinion holding that (1) the foreclosed property was not part of the bankruptcy estate, and therefore (2) the debtor could thus not cure his mortgage arrears through the plan.Judge Oldshue’s opinion began with a historical review of the relevant case law that has “[run] the gamut of outcomes from pre-foreclosure sale acceleration to post-foreclosure redemption.” Id. at 5. The leading case is In re McKinney, in which the court held that the “fall of the gavel” at the foreclosure sale is the time at which the debtor’s interest in the property is determined. 174 B.R. 330 (Bankr. S.D. Ala 1994). Judge Oldshue then turns to the 1994 amendment to 11 U.S.C. §1322, which he refers to as the “Codification of the Gavel Rule.” In re Russell at 8. This subsection of the Bankruptcy Code provides, in relevant part, “a default with respect to, or that gave rise to a lien on the debtor’s principal residence may be cured … until such residence is sold at a foreclosure sale that is conducted in accordance with applicable nonbankruptcy law[.]” 11 U.S.C. §1322(c)(1). This subsection was intended to clarify the rule that even if state law divests a debtor of an interest in his residence prior to the actual foreclosure sale, federal law will permit a cure and maintain plan at least until the sale takes place. Interpreting this provision in conjunction with the rule established in In re McKinney, Judge Oldshue ruled that the debtor’s right to cure and maintain no longer exists after the foreclosure sale.The opinion goes further than merely upholding the “gavel rule,” however. Judge Oldshue continued his analysis by resolving a question that has created significant confusion within the Alabama default servicing industry in recent years: in the context of a bankruptcy filing, when does the foreclosure “gavel” truly fall? In 2013, the Supreme Court of Alabama held that the validity of a foreclosure sale turns on whether the foreclosing party holds the mortgage and the power of sale at the time that the foreclosure deed is executed: “ … it is the act of executing and delivering the deed that completes the foreclosure.” Ex Parte GMAC at 850. After that ruling, any bankruptcy case filed between a foreclosure sale and the execution of the foreclosure deed created a question as to the validity of the sale.It is far from unusual for a Chapter 13 debtor to his file bankruptcy petition after his property has been sold on the courthouse steps but before the foreclosure deed has been executed and delivered. Due to the surprising number of cases in which this occurs, requiring a foreclosure deed to be “executed and delivered” before the sale is considered complete had begun to wreak havoc on Alabama bankruptcy courts.In Russell, Judge Oldshue clarified that the GMAC decision had no effect on the “gavel rule,” going as far as pointing out that the GMAC court even cited In re McKinney without making any mention of challenging its “gavel rule” holding. In re Russell at 11. Thus, Judge Oldshue reasoned, the GMAC holding should be strictly limited to its core issue—standing regarding foreclosures—and should not be construed as an attack on the gavel rule. Id. at 12. Additionally, Judge Oldshue noted, the “gavel rule” is preferable as a matter of public policy: “[R]eliance on the fall of the gavel as the bright line cutoff for determining a debtor’s ability to include property in a subsequently filed bankruptcy estate fosters predictability and uniformity and accordingly is the logical choice.” Id. at 13.The Russell opinion not only confirmed for the Eleventh Circuit that the gavel rule is still alive and well; it also put to rest any unease regarding the foreclosure timeline mentioned in GMAC. Further, the opinion provided useful guidance in an area of law that has historically lacked a meaningful consensus. Most bankruptcy courts, when interpreting subsection 1322(c)(1), look to state law as the starting point to determine when a debtor’s right to cure expires. Of course, foreclosure laws vary from state to state, and as such, they will inevitably produce varying results. However, Russell now joins a small body of case law that has interpreted the addition of subsection (c)(1) to establish a uniform time—the moment of sale—for the expiration of a debtor’s right to cure his mortgage arrears through a Chapter 13 plan. Data Provider Black Knight to Acquire Top of Mind 2 days ago January 14, 2020 1,783 Views Related Articles About Author: Brooke Sanchez Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Wells Fargo, JPMorgan Announce Q4 Results Next: Streamlining the Uniform Mortgage-Backed Security The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / When the Gavel Falls After Foreclosure Sales in Daily Dose, Featured, Foreclosure, Loss Mitigation, News Sign up for DS News Daily The Managing Bankruptcy Attorney for Kent McPhail and Associates, Brook Sanchez joined the firm in 2008 and shifted her focus entirely to limit her representation to creditors. Her practice primarily focuses on serving creditors in all aspects of bankruptcy law, as well as collections and defending creditors in claims under the FDCPA, FCRA, TILA, and RESPA. Subscribelast_img read more

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Business Development Manager to be appointed in Convoy under new scheme

first_img NPHET ‘positive’ on easing restrictions – Donnelly Google+ By News Highland – June 14, 2012 Google+ WhatsApp Help sought in search for missing 27 year old in Letterkenny Pinterest Business Development Manager to be appointed in Convoy under new scheme Guidelines for reopening of hospitality sector published Facebook The government has appointed Business Development Managers to 37 Community Enterprise Centres, as part of a 2-million euro programme to promote entrepreneurship.One full time post has been approved in Donegal, based at Convoy Enterprise Centre.Jobs Minister Richard Bruton made the announcement, as part of the Action Plan for Jobs 2012.It’s hoped the move will create 850 community-based jobs.Enterprise Ireland is to make a second call for proposals for a further 400-thousand euro in 2013. Newsx Advertscenter_img Three factors driving Donegal housing market – Robinson Twitter WhatsApp Facebook Pinterest Twitter Previous articleTeenage hero to be honoured in BuncranaNext articleNI Equality Commission reports rise in prejudice News Highland Calls for maternity restrictions to be lifted at LUH RELATED ARTICLESMORE FROM AUTHOR LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamiltonlast_img read more

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Sinn Fein’s Padraig MacLochlainn says Fianna Fail ‘rhetoric’ is insulting to people

first_imgNews Sinn Fein’s Padraig MacLochlainn says Fianna Fail ‘rhetoric’ is insulting to people By News Highland – August 13, 2013 Google+ Twitter NPHET ‘positive’ on easing restrictions – Donnelly Twitter Facebook Pinterest Facebook Three factors driving Donegal housing market – Robinson Google+center_img Pinterest WhatsApp RELATED ARTICLESMORE FROM AUTHOR WhatsApp Padraig MacLochlainn TDA Donegal Sinn Fein TD has accused Fianna Fáil’s Michael McGrath of insulting the intelligence of the Irish people.Padraig MacLochlainn was responding to an opinion piece from Mr McGrath in the Irish times today in which he called on the government to ease up on austerity.Deputy MacLochlainn says Deputy McGrath’s calls the government’s inaction ‘a disgrace’ but offers no specific alternative.The Donegal representative says Deputy McGrath is insulting the Irish people’s intelligence:[podcast]http://www.highlandradio.com/wp-content/uploads/2013/08/podr1pmINTELL.mp3[/podcast] Previous articleFull list of results from the Centenary Lady Captain’s Prize at Letterkenny GCNext articleHussey anger as Michael Darcy wreath is removed from Castlederg cenotaph News Highland Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector published LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Almost 10,000 appointments cancelled in Saolta Hospital Group this weeklast_img read more

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Thunder warning issued for Donegal until 11pm tonight

first_imgMet Éireann has issued a Status Orange thunder warning in 15 counties mostly in the west and Midlands.The warning is in place from noon until 11pm today in the following counties:Thunder warning for Connacht, Laois, Longford, Offaly, Westmeath, Meath, Cavan, Monaghan, Clare, Limerick and Tipperary.Met Éireann has also issued a Status Yellow Thunder warning for most other counties: Carlow, Kildare, Kilkenny, Louth, Wicklow, Donegal, Cork and Kerry, which is also in place until 11pm today.It forecast widespread thunderstorms with frequent lightning this afternoon and evening, with potentially large amounts of rainfall in a short period of time with spot flooding. Thunder warning issued for Donegal until 11pm tonight Facebook Pinterest Twitter Arranmore progress and potential flagged as population grows WhatsApp News, Sport and Obituaries on Monday May 24th Google+ RELATED ARTICLESMORE FROM AUTHOR Twitter Google+center_img Pinterest Previous articleDisqualified tractor driver faces court after being caught by GardaiNext articleBreaking: Crash between bus & car on Letterkenny-Derry Road News Highland Loganair’s new Derry – Liverpool air service takes off from CODA Nine til Noon Show – Listen back to Monday’s Programme By News Highland – June 8, 2018 Facebook Important message for people attending LUH’s INR clinic DL Debate – 24/05/21 Homepage BannerNews WhatsApplast_img read more

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Luck Reunion Announces 2019 Lineup: Willie Nelson & Family, Mavis Staples, Steve Earle, More

first_imgLuck Reunion 2019 Lineup:World Headquarters StageWillie Nelson & FamilySteve Earle & The DukesShakey GravesLukas Nelson & Promise Of The RealThe Marcus King BandMatthew Logan VasquezIlluminati HottiesParticle KidPaula Nelson & Jesse DaytonSources StageMavis StaplesMountain ManCourtney Marie AndrewsHaley HeynderickxAngie McMahonYolaSunny WarBrandy ZdanRevival TentHayes CarllStrand Of OaksLanghorne Slim & The LawLow Cut ConnieThe Nude PartyQuaker City NighthawksThomas CsorbaE.B. The YoungerLogan LedgerChapel StageNathaniel RateliffCedric BurnsideNicole Atkins & Jim SclavunosThe Cactus BlossomsDylan LeBlancJ.S. OndraBilly StringsLola KirkeWaylon PayneView Full Festival Lineup Luck Reunion has announced its 2019 lineup for when the annual event returns to take place on Thursday, March 14th at Willie Nelson’s Luck, TX compound outside of Austin. The all-star lineup for the one-day event is headed by Mavis Staples, Steve Earle & The Dukes, Lukas Nelson & Promise of the Real, The Marcus King Band, Shakey Graves, as well as Willie Nelson & Family.Taking place across four stages, Luck Reunion will also see performances from Billy Strings, Nathaniel Rateliff, Mountain Man, Courtney Marie Andrews, Haley Heynderickx, Angie McMahon, Yola, Matthew Logan Vasquez, Illuminati Hotties, Particle Kid and many more.Related: Willie Nelson Performs With His Sons & Dave Matthews During Grammy Week Celebration See the full Luck Reunion 2019 lineup on each stage below. For more information, including the event’s unique ticketing process, head to the festival’s website.last_img read more

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Tickets Now Available for The Love Note Off-Broadway

first_img The cast of The Love Note will include Blair Heather Anderson, Nick Anastasia, James Michael Avance, Megan Beard, Mark Blowers, Kathleen Cameron, Adam Cavalieri, Grace Olson-Davidson, Jeff Deglow, Lauren DeFilippo, Jessie Fallow, Kelsey Flynn, Rosanne Gully, Sam Harvey, Katie Rose Ialacci, Kevin Ray Johnson, Bethany McCall, Katie Mebane, Jenna Perez, Justin Selig and Ariella Serur. Show Closed This production ended its run on Dec. 21, 2014 View Comments Tickets are now on sale for Gail Phaneuf’s tuner for tweens, The Love Note. The production will run off-Broadway for a limited engagement September 10 through December 21. Russell Garrett will direct and choreograph the musical, which will officially open on September 14 at the Actors Temple Theatre. The production will play on Wednesdays and Sundays. The Love Note explores the trials of being “the new kid,” learning the ropes of self-reliance and survival techniques that carry into adulthood. Jessie finds herself on a spirited journey at a new school as she attempts to navigate the lunchroom bullies, a new crush and learning how to stand up for herself. With the help of a magical friend, she learns to stand up amongst the school bully, wacky bookworms and tween fashionistas. The Love Note Related Showslast_img read more

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Bar board endorses biennial rules amendments

first_img January 1, 2002 Regular News Bar board endorses biennial rules amendments Bar board endorses biennial rules amendmentscenter_img A substantive change to Florida’s evidence codes allowing admission of prior convictions in only one category of cases should not be included in procedural rules, a rules committee has recommended.The Code and Rules of Evidence Committee, along with the Workers’ Compensation Rules Committee and the Criminal Procedure Rules Committee, presented their biennial changes to the Bar Board of Governors November 30. The Probate Rules Committee also presented emergency rules.All were unanimously endorsed by the board, and now go to the Supreme Court.The Code and Rules of Evidence Committee is unlike other rules committees because the law of evidence is enacted by the legislature in F.S. Ch. 90, and the committee’s review of those laws is usually technical to ensure that the Supreme Court’s procedural rules do not conflict with Chapter 90.But committee Chair Vince Howard said the committee had a problem with a law that mandated trial judges in child molestation cases to admit evidence of the defendant’s prior child molestation convictions.In the committee’s view, the law “creates an inherent conflict with another section [of Ch. 90] that says a judge must not allow inadmissible evidence to be presented to the jury and another section that says it can be admitted but only in certain circumstances,” Howard said. “Because of the way it’s drafted, it says the evidence is admissible and then it says the judge is supposed to give a [jury] instruction to limit the evidence to issues where it is relevant. Jury instructions are about as useless as you can get.”Howard said this was the only area in the criminal evidence code where such an exception would be made and the committee thought it best not to incorporate that change in the Supreme Court’s Rules of Evidence.The committee did support a legislative change expanding the attorney-client privilege to certain governmental activities, clarifying that just because a conversation between a government lawyer and official does not take place in a meeting that the privilege is not waived.The committee also backed a change supporting a law that says judges should take special care to protect witnesses under the age of 14 from repetitive questions or questions they don’t understand. Howard said the committee had felt the legislation duplicated protections already in the law but saw no harm in including it in the procedural rules. Workers’ Compensation Workers’ Compensation Rules Committee Chair Bob Swain said many of the biennial changes were technical to adjust to judges of compensation claims now residing in the Division of Administrative Hearings instead of the former Department of Labor. He said more changes may also be needed to facilitate that switch.Other changes include only requiring judicial review of settlements where one party is not represented by counsel, allowing in Rules 4.055(d)(3) and 4.075(f) the parties to waive the physical presence of a notary or officer, removing in Rule 4.075(f) “payment of compensation” and “provision of medical care” from the actions that can be taken to avoid dismissal for lack of prosecution, and providing that the filing of a petition for benefits automatically acts as a motion for trial. Criminal Procedure Raymond Rafool, chair of the Criminal Procedure Rules Committee, said the committee recommended a change to the committee note to Rule 3.190(h)(4). That change clarifies if a judge considers a motion to suppress evidence during trial and a related motion for acquittal, the ruling may be withheld until after the case is submitted to the jury. If the jury acquits, then no further action is needed, but if the jury convicts, the motion can be considered along with a motion for acquittal or a motion for a new trial.Rafool told the board the change avoids double jeopardy complications that arise when the suppression and dismissal motions are granted during the trial.Other changes include clarifying that in Rule 3.361 the attendance requirement for subpoenas is applicable to the production of evidence as well as testimony, and for testimony at pre-trial and post-trial as well as trial proceedings. The changes also streamline the contempt provision for violating the rule.A change to Rule 3.111(b)(1) holds that counsel does not have to be provided to indigents when they are charged with misdemeanors or violations of municipal ordinances if prosecutors specify that no jail time will be sought. The judge can still retain the public defender if he or she determines that defendant will be substantially disadvantaged by that action. The rule also provides that the defendant have adequate time to locate alternative counsel.The only other change, Rafool said, was an editorial one to Rule 3.170 to make it conform to sections of Florida Rule of Appellate Procedure 9.140(b)(2). Probate Rules David Carlisle, chair of the Florida Probate Rules Committee, said the emergency changes were necessary to accommodate a major rewrite of the probate code passed by the legislature in 2001. Those changes became effective January 1, 2002.The amendments include:• Separating the notice to creditors from the notice of administration provided to beneficiaries.• Clarifying the grounds for removal of a personal representative and providing specific procedures for replacing the personal representative or estate fiduciary because of death, resignation, or removal.• Simplifying the process for opening a safe deposit box.• Eliminating family administration and increasing the jurisdictional amount for summary administration from $25,000 to $75,000.• Adding various definitions, including for “protected homestead.”last_img read more

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Uniondale Armed Home Invasion Suspects Nabbed

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Three Brooklyn men were arrested for allegedly committing an armed home invasion in Uniondale early Wednesday morning, Nassau County police said.Reese Wooten and Jerome Dews, both 19, and 21-year-old Devin Mayo were each charged with robbery and burglary.Police said the 19-year-old victim answered the door at his Lenox Avenue home when the Wooten and Dews pointed a pistol at him, ransacked his room and stole a MacBook and Xbox 360 console at 1:18 a.m.The suspects fled scene in a Chrysler PT Cruiser allegedly driven by Mayo, but officers apprehended the trio on Hempstead Turnpike.They will be arraigned Thursday at First District Court in Hempstead.last_img

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Train likely belonging to North Korea’s Kim seen at resort town: US monitor

first_imgCiting an unidentified source inside the country, it said Kim, who is in his mid-30s, had needed urgent treatment due to heavy smoking, obesity and fatigue.South Korea, which is still technically at war with the North, has played down the report.CNN, quoting what it said was an anonymous US official, reported that Washington was “monitoring intelligence” that Kim was in “grave danger” after undergoing surgery.But on Thursday, US President Donald Trump rejected reports that Kim was ailing.”I think the report was incorrect,” Trump told reporters, but declined to state when he was last in touch with him.”We have a good relationship with North Korea, as good as you can have,” he said.Trump has met Kim three times in historic summitry and has voiced admiration for him, although hopes have dimmed for reaching a comprehensive agreement.Reporting from inside the isolated North is notoriously difficult, especially on anything to do with its leadership, which is among its most closely guarded secrets.On Thursday, citing an unidentified government official, South Korean broadcaster SBS reported that Kim appeared to have been in Wonsan for at least the past four days and would soon return to the public eye.The report added that the military was monitoring Kim’s train, which had been seen in Wonsan, while his personal jet — frequently used by Kim on his trips to Wonsan — remained in Pyongyang.Previous absences from the public eye on Kim’s part have prompted speculation about his health.In 2014 he dropped out of sight for nearly six weeks before reappearing with a cane. Days later, the South’s spy agency said he had undergone surgery to remove a cyst from his ankle.Topics : “But it does lend weight to reports that Kim is staying at an elite area on the country’s eastern coast,” it said.There has been growing conjecture about Kim’s health since his conspicuous absence from the April 15 celebrations for the birthday of his grandfather Kim Il Sung, the regime’s founder — the most important day on the North Korean political calendar.Kim has not made a public appearance since presiding over a meeting of the Workers’ Party politburo on April 11 and inspecting drills by fighter jets at an air defence unit, which was reported by state media on April 12.Daily NK, an online media outlet run mostly by North Korean defectors, has reported Kim underwent a cardiovascular procedure earlier this month and was recovering at a villa in North Pyongan province. A train likely belonging to North Korean leader Kim Jong Un has been spotted at a resort town in the country’s east, satellite photos reviewed by a US-based think tank showed, as speculation persists over his health.The train was parked at a station reserved for the Kim family in Wonsan on April 21 and April 23, the respected 38North website said in a report published Saturday.38North cautioned that the train’s presence “does not prove the whereabouts of the North Korean leader or indicate anything about his health”.last_img read more

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Governor Wolf Statement on Reduction of Management Fees by SERS, PSERS

first_img Government That Works,  Statement Harrisburg, PA – After calling for a reduction in Wall Street management fees more than a year ago, Governor Wolf released the following statement regarding progress made by SERS and PSERS to achieve this goal:“I have been pushing for more than a year to significantly reduce the excessive Wall Street management fees paid by SERS and PSERS as part of pension reform. This important step saves money for Pennsylvania’s hardworking taxpayers. I am pleased that PSERS has reduced management fees by $103 million and SERS has reduced the fees it pays by $16 million, and I applaud both systems for their work in this area.“In addition to reducing Wall Street management fees, my administration is working hard to reduce redundancies, and find efficiencies and cost-savings for Pennsylvania’s hardworking taxpayers, including my GO TIME initiative, a proposal to merge the Department of Corrections and the Board of Probation and Parole, and moving the CHIP program from the Department of Insurance to the Department of Human Services.“I will continue to work with both pension systems to reduce fees even more and I urge the legislature to pass legislation to permanently reduce these excessive Wall Street fees.”Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf SHARE Email Facebook Twitter March 07, 2016center_img Governor Wolf Statement on Reduction of Management Fees by SERS, PSERSlast_img read more

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