The recent Supreme Court decision on “home equity theft” continues to raise questions and place the spotlight on local tax foreclosure laws. The ruling addressed a Minnesota case where a county seized Geraldine Tyler’s condo over $15,000 in unpaid property taxes and retained the excess proceeds from the property’s sale, totaling $40,000. While the Court…
The U.S. Supreme Court has dismissed a constitutional challenge to the established practice of tax foreclosure sales in Pung v. Isabella County. The case scrutinized whether the Fifth Amendment’s takings clause and the Eighth Amendment’s excessive fines clause were violated when homes are sold in tax foreclosure sales at prices lower than their assessed fair…
In a noteworthy development, a Texas judge’s ongoing legal battle over a foreclosure ruling has resulted in a partial reversal, marking a significant turn in the case. The court’s latest decision offers a nuanced resolution to the contentious dispute that has captured the attention of the legal community. The original case involved the judge’s attempt…
The United States Court of Appeals for the Eighth Circuit has reinstated a lawsuit against Taft Stettinius & Hollister LLP, a prominent law firm, in a case concerning alleged violations of foreclosure procedures. The appellate court’s decision centers on whether an alleged breach of the reinstatement statute also constitutes a violation of section 1692f(6)(A) of…
Last week, the U.S. Supreme Court heard oral arguments in Michael Pung, Personal Representative of the Estate of Timothy Scott Pung v. Isabella County, Michigan, a property rights case focused on the Fifth Amendment’s Takings Clause and the Eighth Amendment’s Excessive Fines Clause. The case stems from a tax foreclosure dispute, where Isabella County retained…
The recent oral arguments in Pung v. Isabella County have sparked significant discussion among the justices of the U.S. Supreme Court, focusing on the constitutionality of foreclosure sales under the Fifth Amendment’s takings clause. The case arose after Michael Pung contested that his property, sold at a foreclosure auction due to unpaid taxes, fetched less…
In an upcoming case before the U.S. Supreme Court, Pung v. Isabella County, justices will evaluate the constitutionality of the established practice of tax foreclosure sales. The case involves Michael Pung, acting as the executor of his nephew Timothy’s estate, who disputed real estate taxes imposed by Isabella County, Michigan. After a state court judgment…
The New York City Bar Association has recently urged New York Governor Kathy Hochul to revise the 2027 executive budget in a way that allows the New York State Interest on Lawyer Account (IOLA) Fund access to its full revenue. This fund plays a critical role in supporting low-income residents by providing civil legal services…
The U.S. Supreme Court has been presented with another opportunity to address contentious practices involving government seizures of homes. This issue, often referred to as “home theft” by critics, arises when local governments seize properties over unpaid taxes and retain the entire value of the home, not just the taxes owed. This practice has sparked…
In today’s climate of rising interest rates and stretched borrower balance sheets, savvy real-estate investors are capturing unique opportunities within distressed markets. The uneven recovery across asset classes has made defaulted loans particularly appealing for those with legal expertise. A strategic approach is essential, as a blunt foreclosure “hammer” is no longer sufficient. Instead, a…
The United States Supreme Court is poised to address a critical issue that has long been a point of contention in property law: what constitutes “just” compensation in the context of tax foreclosures. This decision could have significant implications for property owners and state governments alike, as the Court seeks to clarify the parameters of…
Phelps has announced the addition of John Rouse as a partner in their Jackson, Mississippi office, with an emphasis on products liability, financial services, and corrections health-care practices. This strategic recruitment, revealed Tuesday, underscores the firm’s commitment to bolstering its litigation capabilities in the region. Rouse brings a wealth of experience to his new role,…
An attorney representing a foreclosed Beverly Hills mansion has initiated steps to withdraw from the bankruptcy case involving the opulent property. The legal counsel, Michael Jay Berger, has cited an “irreparably broken” relationship with the mansion’s owner as the primary reason for his decision to exit the case. The contentious situation emerges amidst allegations of…
“`html Buchalter has expanded its construction and litigation practice by appointing Steven Mroczkowski as a shareholder in their Chicago office. This strategic addition, announced on Tuesday, is poised to enhance the firm’s capabilities in handling complex construction-related legal matters across the United States. Steven Mroczkowski comes with extensive experience in representing a diverse array of…
Duane Morris LLP has announced the addition of Daniel Milian to its Miami office as a partner in the trial practice group, effective this week. Milian, who specializes in commercial civil litigation, joins from Fowler White Burnett, bringing a wealth of expertise in handling complex legal matters. His practice primarily focuses on general commercial litigation,…
Ellen Wheeler has joined Proskauer Rose LLP as a partner in their mergers and acquisitions (M&A) practice. Based in New York, Wheeler brings her extensive expertise to the firm, ready to advise on a range of complex financial transactions. Her addition to Proskauer Rose was announced on Monday. Wheeler’s practice focuses on working with public…
In a strategic move to strengthen its global litigation capabilities, Squire Patton Boggs has appointed Dorian Daggs as a partner within its Miami office. This appointment underscores the firm’s commitment to expanding its influence in key litigation sectors. According to an announcement by the firm, Daggs brings to the table a robust portfolio of experience,…
In a recent development within the legal sector, Troutman Pepper Locke has expanded its team by appointing Christopher Fernandez as a partner. Fernandez will play a key role in the firm’s bankruptcy and restructuring practice group, operating from their Charlotte, N.C. office. With a robust background in advising and representing commercial mortgage-backed securities (CMBS) special…
In a significant decision, the Florida Supreme Court has permanently disbarred Bruce Jacobs, a Miami-based foreclosure defense attorney. The Court escalated the disciplinary action beyond the recommendation of Miami-Dade Circuit Judge Betsy Alvarez-Zane, who outlined instances of severe professional misconduct in her report. These included filing frivolous pleadings, lacking candor, and impugning judicial integrity without…
In a strategic move to bolster its litigation capabilities, law firm Thompson Coburn has announced the addition of Adam Toosley and Laura Ellis Kugler as partners in its litigation practice. The firm revealed the appointments this Monday, signifying its commitment to enhancing its expertise in key litigation areas. Adam Toosley joins the business litigation practice…
In recent litigation developments, several emerging trends are gaining attention, including lawsuits concerning “AI washing,” disputes over surplus foreclosure funds, and a significant data breach at NYU. The notion of “AI washing” is at the forefront of legal discussions, particularly as Apple faces allegations of misrepresenting the capabilities of the latest iPhone’s AI features. This…
Fannie Mae, BNY Accused of Inflating Rates on Loan Foreclosures Fannie Mae along with units of the Bank of New York Mellon Corporation (BNY) are facing allegations that they have engaged in systematic cheating of homeowners through rate inflation on foreclosed home equity loans. According to recent lawsuits filed in federal court in Brooklyn, New…
The transition towards renewable energy is being bolstered by tax credits designed to spur investment and development. However, the financial world is facing new uncertainties due to the ability to transfer these renewable energy tax credits, a change instigated by the Inflation Reduction Act of 2022. This ability to transfer credits has introduced a novel…
Baker Donelson has announced the recruitment of James Roberts as a shareholder in its corporate restructuring and bankruptcy group located in Birmingham, Alabama. This addition underscores the firm’s commitment to expanding its expertise in financial services-specific legal issues, particularly in areas of commercial loan restructurings and bankruptcies. Read more from Bloomberg Law. Roberts brings a…
In a recent strategic move, Cozen O’Connor has brought on board a father-daughter legal team to its international real estate group, further strengthening its practice capabilities in Philadelphia. The law firm confirmed the recruitment of David Ebby as a shareholder, an addition that promises to enhance the firm’s expansive practice in real estate law. Meanwhile,…