Foreclosure

Va. Holds Trustee’s Fiduciary Duty May Be Breached Where Foreclosure Sale Price Grossly Inadequate

Va. Holds Trustee’s Fiduciary Duty May Be Breached Where Foreclosure Sale Price Grossly Inadequate

Supreme Court of Virginia holds that Borrower stated a claim against foreclosure trustee for breach of duty of impartiality , where property was sold at a grossly inadequate price, at a disproportionate expense to the Borrower, given that the lender’s loan was paid in full. 

D.C. holds Foreclosure of Super-Priority Condo Lien Extinguishes First Mortgage

D.C. holds Foreclosure of Super-Priority Condo Lien Extinguishes First Mortgage

D.C. Court of Appeals holds that under pre-2017 law, a condominium association could not foreclose its lien subject to a first-position deed of trust, where part of the lien enjoyed super-priority, and the remainder being inferior to the deed of trust. 

Md. Holds Collection Agency License Not Required for Foreclosing Creditor

Md. Holds  Collection Agency License Not Required for Foreclosing Creditor

The Court of Appeals of Maryland held that a foreign statutory trust, which merely served as a special purpose vehicle to own a mortgage loan, was not required to obtain a collection agency license prior to pursing foreclosure through its substitute trustees.