Getting a Deficiency Judgment After a Commercial Foreclosure

If you are a Real Estate Asset Manager or Loan Portfolio Manager, you know how complicated it can be to get your non-performing properties through the foreclosure process and to an auction. Sometimes, however, the auction sale does not produce enough funds to pay your debt on the property. If the property is located in Florida, you then have the right to obtain a Deficiency Judgment or have one issued by the Court. A Read More

How Far Should a Lawyer Push an Issue?

Last month, we wrote about the connection between a good attorney and a Judge. In the article, we explained how effective lawyers learn how specific Judges prefer to run their courtrooms after appearing before them enough times. Here’s a particularly relevant selection about the topic: “A lawyer’s experience before a specific Judge is invaluable to a client in getting a positive resolution. Some Judges are quick to Read More

A Good Lawyer Knows the Law, A Great Lawyer Knows the Judge

Every month at the Reyes Law Group, we seek to provide information that is valuable and helpful to our clients. This month, we are looking at the public perception of how lawyers operate. We are shedding some light on a seemingly small fact that helps separate a good lawyer from a great, successful lawyer - the kind of lawyer you should work with. Clients are aware that lawyers interact with each other during the Read More

Motions for Summary Judgment: How Florida’s Big New Change Affects You

On May 1st, 2021, Florida signed into law some major changes regarding their approach to Motions for Summary Judgment. These changes mean Florida now follows the standard used in federal practice (again, previously not the case for Florida). These changes are significant, and signal good news for Asset Managers, Loan Portfolio Managers, Private Lenders and Investors with Florida properties in their portfolios. The Read More

More on the Guarantor! Hedging the Risk: The Guarantor – Only If Handled Correctly!

The pandemic create many winners and losers, which means, millions of credit facilities, debtors, and borrowers remain on the brink. Scratch the surface, and you realize that forbearances have delayed what appears to be inevitable.  Despite the trillions in government help, the fundamentals don’t change.  Lenders have for eons collateralized loans with tangible, value-sustaining real estate as a way of hedging their Read More

The Importance of the Guarantor to Asset Managers and Loan Portfolio Managers

It is typical today that a borrower may need a guarantor in order to get approved for a real estate loan or purchase. The role of the guarantor is to ensure the borrower will be able to pay for the real estate by putting their own credit on the line. If a borrower’s income or credit score is too low to be approved for a real estate loan, they can try to secure a guarantor with stronger credit than them. This applies Read More

Motion to Sequester Rents: A Great Early Legal Maneuver

If you are an Asset Manager, Loan Portfolio Manager, Private Lender, or Investor with a non-performing property, this is how the story normally goes. You endure months of requests, conversations, strained negotiations, and forbearances. When you find yourself pleading or insisting with your borrower in order to see any sort of return on your investment, you realize that this tactic of financial loss is not an Read More

Florida’s Statutory Rate on Final Judgments and Their Impact on ROI for Asset and Loan Portfolio Managers

When a Final Judgment is entered, it typically reflects a financial equation consisting of the principal, delinquent interest, late charges, legal fees, court costs, and…the additional interest due a lender to get them up to the default rate they are entitled to. In Florida, on most commercial loans, that default rate is 18%. However, when a Final Judgment is entered in Florida, lenders are only entitled to collect Read More

What Asset Managers Should be Doing During the Eviction Moratorium

Hours after his inauguration, President Biden issued an executive order extending the eviction moratorium until March 31. The current moratorium had been put into effect by the Center for Disease Control and Prevention in September 2020 to prevent the further spread of COVID-19.  The last day the moratorium, designed to stop renters from being evicted for non-payment of rent, was set to end December 31st, 2020.  It Read More

What Asset Managers Nationwide (with Florida Commercial Real Estate in their Portfolios) Will Need to Confront in 2021 – Filing Foreclosures

As a commercial asset or loan portfolio manager, private lender, or loan investor with oversight over Florida commercial real estate, one of the last things you want to see, hear, or watch happen is  2020 bleed into 2021 and, with it, the continuing non-performance of your Florida commercial real estate assets.  The 2020 forbearances were a gesture designed to deal with the economic reality of the pandemic and seek a Read More