Insights

Trends in Student Loan Dischargeability

June 6, 2018 | Monette W. Cope, Esq.

Has anyone not heard about the so-called "student loan crisis?" Americans owe more than $1.48 trillion in student loan debt. That's $620 billion more than the national credit card debt. Those with student loans carry an average debt of $37,172.1 Students, parents and politicians are clamoring for relief. But has anything changed?...

Ohio Bankruptcy Court Strikes Down Mortgage, Imposes Six-Year Statute of Limitations

May 21, 2018 | Benjamin N. Hoen, Esq.

Much has been said recently in Ohio law concerning the enforcement of notes and foreclosures on mortgages. In summary, the plaintiff must be the holder of the note and mortgage with the right of enforcement of both instruments in order to bring a meritorious foreclosure action in Ohio....

The Effect of Attorney's Fee Entitlement Language in an Agreement and Florida's Reciprocal Fee Statute 57.105(7)

May 17, 2018

Creditors beware! Don't get stuck paying the debtor's fees. Creditors need to know that in instances when a voluntary dismissal is filed or the court enters an involuntary dismissal, creditors face a risk of having to pay the debtor's attorney's fees....

Negotiable Instruments in Kentucky: When the UCC Complicates the Statute of Limitations for Written Contracts

April 24, 2018 | James T. Hart, Esq.

Statutes of limitation control the time in which a person or entity may bring certain causes of action against another. Kentucky law proscribes that an action on a written obligation entered into before July 1, 2014 must be brought within 15 years, and any obligation entered into after July 1, 2014, must be brought within 10 years. While this seems pretty straightforward, UCC Article 3 offers a wrinkle when it comes to "negotiable instruments."...

Is Regulatory Relief on the Way for Community Banks?

February 8, 2018 | Andrew C. Voorhees, Esq.

On January 18, 2018, the House Financial Services Committee approved some bills that, if passed by the House and Senate, will roll back some of Dodd-Frank's provisions. One of those proposed bills is the Community Financial Institution Exemption Act, H.R. 1264, which was originally introduced by Representative Roger Williams (R-TX) on February 28, 2017. The Community Financial Institution Exemption Act, which was passed by the committee in a 30 to 25 vote, has support from the Credit Union National Association (CUNA) and the Independent Community Bankers of America (ICBA), among others. This bill, if approved by the House and Senate, could provide considerable relief to community banks from the crushing rules and regulations of the Consumer Financial Protection Bureau (CFPB)....

Mortgage Loan Modifications – What is the Risk of Loss of Lien Priority?

February 7, 2018 | Larry R. Rothenberg, Esq.

Lenders and borrowers often enter into loan modification agreements to change the terms of a mortgage loan. Perhaps the most common modification arises when the borrower is experiencing difficulty repaying the loan according to its original terms, and the lender, seeking to preserve the loan as a performing loan, agrees to reduce the monthly payments and extend the repayment period....

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