Real Estate Law

Recent Posts

The Sixth Circuit, Relying upon Michigan’s Nonrecourse Mortgage Loan Act, Rejects the Enforceability of an Insolvency Covenant
Posted on 2 Apr 2015 by Ballard Spahr LLP

Notwithstanding Michigan’s 2012 Nonrecourse Mortgage Loan Act (NMLA), which provides that solvency covenants in nonrecourse loans unenforceable, in Borman, LLC v. 18718 Borman, LLC , a third-party purchaser of a foreclosed property sought a deficiency... Read More