When a Driver’s License Is More Than a Bad Picture: Is Your UCC Financing Statement Still Effective?

​​UCC Financing Statements Must Contain the Debtor’s Correct Name “[A] financing statement is sufficient only if it [among other things] . . . provides the name of the debtor. “ N.C. Gen. Stat. § 25-9-502(a)(1) (emphasis added). Prior to July 1, 20 ...[Read more]

Published: 8/12/2015 | 0  Comments | 0  Links to this post

Short-Pay Statements Under North Carolina Law

Short-Pay Statements Under North Carolina Law North Carolina General Statute Sec. 45-36.7 outlines the steps necessary for a borrower to request a short-pay statement when all or a portion of the collateral is to be released without paying the full ...[Read more]

Published: 7/30/2015 | 0  Comments | 0  Links to this post

Primer: Student Loan Types and Payment Options

​If you have an interest in student loans (as most of us do as parents or after law school), then you may want to check out the website of the United States Bankruptcy Court for the District of South Carolina.  Partner Lisa Sumner, who formerly pr ...[Read more]

Published: 6/22/2015 | 0  Comments | 0  Links to this post

COA Concludes Successive Defaults are Distinct for Purposes of Two Dismissal Rule in Foreclosures

In an opinion filed on June 2, 2015, the Court of Appeals considered application of the so-called “two dismissal rule” under Rule 41(a) of the Rules of Civil Procedure to power of sale foreclosure proceedings.  Specifically, the Court considered whe ...[Read more]

Published: 6/15/2015 | 0  Comments | 0  Links to this post

Show Me The Money! Post-Judgment Collections in North Carolina

​Executing on civil judgments in North Carolina became more difficult a few years ago when the Administrative Office of the Courts advised all district and superior court judges, as well as all clerks of court, that ex parte orders in aid of executi ...[Read more]

Published: 4/29/2015 | 0  Comments | 0  Links to this post

Waiver of Defenses: Protecting Lenders from ECOA Claims

After the real estate market crash, creative plaintiff’s attorneys in eastern North Carolina were quick to turn to the Equal Credit Opportunity Act (ECOA),  15 U.S.C. § 1691 et seq., and its implementing regulations, 12 C.F.R. §202.1 et seq. (common ...[Read more]

Published: 3/23/2015 | 0  Comments | 0  Links to this post

Court of Appeals Confirms Lack of Jurisdiction to Grant Injunctive Relief in Foreclosure

​The Court of Appeals has issued another opinion in the long line of borrower foreclosure appeals defeated by subject matter jurisdiction.  In In re Foster (No. COA14-108) issued on February 17, the Court affirmed the trial court’s ruling that a bor ...[Read more]

Published: 2/27/2015 | 0  Comments | 0  Links to this post

Court of Appeals Changes Course on Fair Market Value Defense in Deficiency Actions

​In BB&T v. Smith et al. (COA14-554) issued on February 17, the Court of Appeals held that the so-called “fair market value defense” in lender deficiency actions applies not only to owner-obligors, but also to guarantors.  This opinion represent ...[Read more]

Published: 2/18/2015 | 0  Comments | 0  Links to this post

Read The Fine Print

​Read The Fine Print The wife executed a durable Power of Attorney appointing her husband as attorney in fact.  The Power of Attorney contained a restriction which stated that the powers “shall not be exercised until a physician has certified that ...[Read more]

Published: 2/11/2015 | 0  Comments | 0  Links to this post

Lessons from Recent NC Court of Appeals Opinions

​The release of opinions by the NC Court of Appeals on February 3 included several cases involving lender foreclosure or collection efforts.   The holdings are not monumental, but there is a common thread of useful illustrations of relevant rules or ...[Read more]

Published: 2/11/2015 | 0  Comments | 0  Links to this post
<< Previous    Next >>