Wilson v. Suntrust Bank Even though plaintiff’s Fair Debt Collection Practices Act (FDCPA) claim may arise out of the same events that were the subject of a foreclosure action in state court, a similar action in state court does not deprive this court of jurisdiction.

Tagged with: Civil Practice Fair Debt Collection Practices Act Federal Jurisdiction mortgages

Synovus Bank v. Karp In their counterclaims, the defendant-borrowers contend that the plaintiff-bank lent money to unqualified individuals to buy property, knowing the property was overvalued and, in some cases, knowing that the individuals would not be able to make payments on these loans once their interest-only periods ended, in order to stimulate short-term revenue. While the bank’s alleged conduct may not appear to have been the most prudent course of action in terms of the bank’s long-term business interests, this does not mean that such conduct is not plausible as a matter of law.

Tagged with: Banks & Banking mortgages Real Property Tort/Negligence

RL Regi North Carolina, LLC v. Estate of Moser Although the decedent’s will granted its co-executors broad powers, the will’s co-executors lacked the authority to have the estate guarantee a loan that was borrowed for the purpose of developing raw land owned by the decedent’s company.

Tagged with: mortgages Real Property trusts & estates Wills

In re Foreclosure of the Deed of Trust of Johnson In this foreclosure action, respondent had seven weeks after he filed a pro se appeal, and five weeks after he received notice of the hearing of his appeal, to hire a lawyer. At the hearing, respondent claimed to have hired an attorney who was prevented from appearing by a death in the family, but respondent admitted that he had not paid the attorney to represent him. The trial court did not abuse its discretion when it denied respondent’s motion to continue.

Tagged with: Civil Practice foreclosure mortgages Real Property

Colony Insurance Co. v. Peterson A separate agreement existed between the plaintiff-insurer and the defendant-bank as a mortgagee. Accordingly, even if the insurer may rescind its policy with the property owner (and thus the bank as a loss payee) pursuant to G.S. § 58-3-10 due to material misrepresentations in the insurance application, the bank’s rights as a mortgagee would survive.

Tagged with: Fire first impression Insurance mortgages Real Property

Countrywide Home Loans, Inc. v. Reed Judy Reed, her husband, and her mother bought property as joint tenants with right of survivorship; however, when the mother took out a mortgage on the property, the joint tenancy was severed, and a tenancy in common was created, without the right of survivorship.

Tagged with: first impression mortgages Real Property Severance

In re Foreclosure of Deed of Trust by Wilson The mortgaged property was sold to Fannie Mae subsequent to an order permitting foreclosure, and the trustee’s deed was recorded. There is no indication that the respondent-mortgagor paid a bond to stay the foreclosure sale, nor was there an upset bid during the 10-day period or any indication in the record that respondent obtained a temporary restraining order or preliminary injunction prior to the end of the 10-day upset bid period.

Tagged with: appeals Civil Practice foreclosure mootness mortgages Real Property

RBC Bank (USA) v. Chowdhury Even though defendant agreed not to contest jurisdiction in this action, the statute of limitations is not a jurisdictional issue. Where plaintiff waited more than one year to file this deficiency action, it is time-barred.

Tagged with: Civil Practice foreclosure mortgages Real Property Statute of Limitations

In re Foreclosure of Cornblum In a power of sale proceeding initiated under G.S. § 45-21.16, the clerk of court, and the superior court on appeal from the clerk’s decision, lack subject matter jurisdiction to consider and rule on a party’s motion to compel arbitration. In re Foreclosure of Pugh (March 6, 2012; Lawyers Weekly No. 12-07-0257)

Tagged with: Arbitration Civil Practice foreclosure mootness mortgages Real Property subject-matter jurisdiction

In re Foreclosure by Carter Even though the parties’ note and deed of trust included arbitration provisions, when the substitute trustee commenced foreclosure proceedings under the deed of trust’s power of sale, both the clerk of court’s and the superior court’s scope of review was limited to issues related to the six findings required by G.S. § 45-21.16. Respondents’ argument concerning their right to arbitration was not pertinent to the six required findings; consequently, the superior court properly refused to rule on respondents’ motion to stay the foreclosure proceedings and compel arbitration.

Tagged with: Arbitration foreclosure mortgages power of sale Real Property