DC Metropolitan Business Law Alert

DC Metropolitan Business Law Alert

Category Archives: Loan Enforcement

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Maryland Lawmakers (Partially) Resurrect the IDOT.

Posted in Finance, Lending Law, Limited Liability Companies, Loan Enforcement, Local News, Maryland Law, Property, Real Estate, Tax
A year has passed since the Maryland legislature enacted a law that eliminated the recordation tax advantage gained by using an indemnity deed of trust (“IDOT”) in most Maryland counties (see our post from May 16, 2012, “Maryland Legislature Effectively Kills the IDOT”). Now just as zombies have overtaken vampires in popular culture, the Maryland… Continue Reading

Maryland Court Holds that Interest may be Abated in Foreclosure Sales Only When Closing Delays are Caused by Third Parties

Posted in Business Litigation, Distressed Debt, Foreclosure, Lending Law, Loan Enforcement, Maryland Law, Property, Real Estate
Under the foreclosure rules in Maryland, interest may accrue on the unpaid balance of the foreclosure purchase price from the date of the foreclosure sale until final settlement.  The Court of Special Appeals of Maryland recently held in Zorzit v 915 W. 36th Street, LLC that a court may abate the accrued foreclosure sale interest only… Continue Reading

Maryland Confessed Judgment Clause May Not Protect

Posted in Finance, Lending Law, Loan Enforcement, Maryland Law, Real Estate
Lender liability law, which gained prominence during the savings and loan crisis of the 1980s, has again become an active area of litigation in recent years. Lenders in Maryland traditionally have had at least two ways to protect against plaintiffs seeking to challenge the enforceability of a commercial loan. First, lenders often include a confession… Continue Reading