Equitable subrogation is not limited to refinancings and can apply in the context of purchase transactions, a divided panel of the North Carolina Court of Appeals has ruled. In April 2005, John Wood agreed to purchase real property in ...

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  Overruling 22 years of precedent, the en banc 4th U.S. Court of Appeals has ruled that Chapter 13 debtors may divide some undersecured home mortgage loans into secured and unsecured claims and “cram down” the unsecured portion of such loans. The ...

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Bank of America, N.A. v. Rivera (Lawyers Weekly No. 012-104-17, 9 pp.) (Lucy Inman, J.) Appealed from Mecklenburg County Superior Court (Gregory Hayes, J.) N.C. App. Unpub. Holding: Even though the plaintiff-bank sold defendants’ promissory note to Fannie Mae, since ...

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Henderson v. Henderson (Lawyers Weekly No. 012-004-17, 8 pp.) (Ann Marie Calabria, J.) Appealed from Mecklenburg County District Court (Jena Culler, J.) N.C. App. Unpub. Holding: Where plaintiff used his separate funds to make post-separation interest payments on the mortgage ...

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In re Foreclosure of Beasley (Lawyers Weekly No. 010-010-17, 1 p.) (Per Curiam) Appealed from Carteret County Superior Court (Phyllis Gorham, J.) On discretionary review from the Court of Appeals. N.C. S. Ct. Holding: Because the trustee effectively withdrew its ...

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For would-be homeowners struggling to secure a loan, seller financing can be an alternate route into a new house. Like a rent-to-own contract (and controversial precisely for that reason), the buyer gets the keys in exchange for a monthly mortgage ...

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SED Holding, LLC v. 3 Star Properties, LLC (Lawyers Weekly No. 011-116-16, 13 pp.) (Robert Hunter Jr., J.) Appealed from Durham County Superior Court (Paul Ridgeway, J.) N.C. App. Holding: Plaintiff, a North Carolina company, made a deal in North ...

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In re Herndon (Lawyers Weekly No. 011-032-16, 16 pp.) (Linda Stephens, J.) Appealed from Sampson County Superior Court (Gale Adams, J.) N.C. App. Holding: Where respondent continued to default on his mortgage after the substitute trustee brought and voluntarily dismissed ...

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NEW YORK (AP) — Goldman Sachs said Thursday it will pay roughly $5 billion to settle federal and state probes of its role in the sale of shoddy mortgages in the years leading to the housing bubble and subsequent financial ...

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An appellate decision against a community bank nestled in the foothills of North Carolina is going to have a ripple effect on banks and borrowers of all types throughout the state. “This affects virtually every citizen and lending institution in ...

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