The Banking on Credit Unions podcast is hosted by Attorney Jim Sorensen. This week’s special c-host is Attorney Stephen Orsillo and together, our experts at Sorenson Van Leuven Law Firm tackle some of the new laws that impact credit unions in Florida.
Attorneys Jim and Stephen discuss the recent changes to Florida Statute 701.041 that specifically address payoff letters for mortgages and real property judgment liens with a reduced timeframe of 10 days to comply with a payoff request and the requirement of providing an itemized, detailed breakdown, credit unions must be aware of these new regulations. How will these new laws impact real properties in Florida? And how should credit unions react? Listen to this week’s episode to learn more.
Other subjects we covered on the show:
- New laws in Florida that impact credit unions – Highlighting the law involving payoff letters and its changes.
- Reduction in the timeframe for providing payoff letters from 14 to 10 days.
- Requirement to provide detailed itemized payoff letters and daily per diem.
- Emphasis on the importance of staying informed about new laws and regulations.
- Encouragement for credit unions to update their procedures to comply with new laws.
- Mention of the interesting and hot-button nature of the legislative session.
- Information on how to sign up for the law firm’s mailing list and access content.
AND MORE TOPICS COVERED IN THE FULL INTERVIEW!!!
You can check out the full episode and subscribe at https://youtu.be/2pLxeYmonCM?si=Y4g4IZ8Sm7T3ACYH.
If you want to know more about the SVL Law Team, reach out at https://svllaw.com/contact-us/.
Welcome to the Banking on Credit Unions podcast, hosted by Attorney Jim Sorensen with this week’s special co-host Attorney Stephen Orsillo. In this episode, our legal experts at Sorenson Van Leuven Law Firm delve into the complex world of foreclosure.
Join the conversation as they examine the lengthy timelines endemic to Florida foreclosure proceedings, mapping out causes for delays ranging from serving heirs to title issues and bankruptcy filings. And later in the conversation, the attorneys outline proactive solutions that credit unions can employ to streamline cases, stressing the importance of due diligence in confirming proper mortgage note possession.
With decades of combined experience between Attorneys Jim and Stephen, they offer a detailed analysis on how law firms can do better to increase efficiency.
If you’re a credit union in Florida, it’s crucial to understand how these laws on foreclosures can impact your operations. Stay informed and listen to the full episode of Banking on Credit Unions and sign up for the Sorenson Van Leuven Law Firm’s mailing list to receive quarterly updates and valuable content. By staying ahead of the curve, you can effectively navigate the legal pathways impacting your credit union.
Other subjects we covered on the show:
- Deciphering Florida’s winding foreclosure landscape – Discover the minimum timeframes and major milestones you can expect when foreclosing in this complex state.
- Serving up legal lessons on proper notice – Get schooled on the special service requirements in foreclosures and how to avoid critical pitfalls.
- Tales of deception: How sneaky homeowners abuse delays – Hear outrageous firsthand accounts of the deception tactics waiting at every corner to drag out cases.
- What COVID hath wrought: A tidal wave of delays – Unpack the lasting rippling effects of pandemic-induced slowdowns still swamping the courts.
- Secrets from foreclosure masters: Pro tips for speedier cases – Tap into insider techniques the experts use to keep the legal wheels turning and prevent stagnation.
- When past-due estates inherit problems: Strategies for deceased debtors – Learn specialized approaches for foreclosing when no one pays the debts of the dead.
AND MORE TOPICS COVERED IN THE FULL INTERVIEW!!!
You can check out the full episode and subscribe at https://youtu.be/Y6Y7tNat8qc?si=x7tGU2ecSv6WlKKw.
If you want to know more about the SVL Law Team, reach out at https://svllaw.com/contact-us/.
Have you ever wondered about the legal notice requirements around repossession of vehicles? In this eye-opening episode of Banking on Credit Unions, Attorneys Jim Sorensen and Tyler Van Leuven peel back the curtain on repossession rules. Get the inside scoop on critical notice procedures and how to avoid costly legal pitfalls.
Repossessing a vehicle is complicated enough without adding lawsuits into the mix. Tune in as Attorneys Jim and Tyler demystify the repossession notice laws in Florida and Georgia. Learn exactly what notices must be given before and after repossession. They also share common mistakes to avoid and best practices for compliance. Now you can reclaim vehicles properly and steer clear of trouble.
If you lend money for vehicles, this episode is mandatory listening. Attorneys Jim and Tyler break down need-to-know repossession guidelines that keep you on the right side of the law. Gain peace of mind by understanding notice requirements. Don’t miss these pro tips for avoiding legal pitfalls!
Other subjects we covered on the show:
- Reasons when notice should be given in FL/GA before repossession, like accepting late payments or after a death.
- Details on the “no more late payments” notice and when it should be sent.
- Explanation of the notices required after repossession in FL/GA – Notice of Intent to Sell and Explanation of Deficiency.
- Importance of sending notices by certified mail with return receipt to all obligors.
- Common mistakes like improper notices or repossessing without valid default.
- Tips for best practices such as annual legal review of documents, detailed procedures, and staff training.
- Options besides repossession like suing on the note if the car isn’t worth taking.
- Guidance on out-of-state repossessions and checking local laws.
- Examples of lawsuits and damages that can happen with improper notices.
- Discussion on voluntary repossession agreements and process recommendations.
AND MORE TOPICS COVERED IN THE FULL INTERVIEW!!!
You can check out the full episode and subscribe at https://youtu.be/oOG1K8CkPxI?si=a0uQaME0RQItTpEg.
If you want to know more about the SVL Law Team, reach out at https://svllaw.com/contact-us/.
Getting judgment against a debtor is just the first step to getting paid – the real work starts afterward. In this information-packed episode of Banking on Credit Unions, hosts Jim Sorensen and Blair Boyd walk through the legal processes and remedies creditors can use to satisfy judgments.
You’ll learn the nuts and bolts of recording liens on real and personal property to secure your interests. Jim and Blair outline garnishment procedures for capturing wages and bank account funds and discuss levy options for seizing everything from real estate to livestock. With plenty of real-world examples and practice tips, they cover debtor exemptions that can limit collections and stress the importance of having an effective judgment management system.
If you lend money and struggle turning judgments into dollars, this episode is a must-listen. Tune in to pick up step-by-step strategies to make the most of your legal rights.
Other subjects we covered on the show:
- The definition of a final judgment and how long judgments last in Florida vs. Georgia.
- Recording judgments to create liens on real and personal property.
- Using post-judgment discovery to uncover debtor assets and income sources.
- When debtors can be held in contempt of court for ignoring orders.
- The process of levying personal property like cars, jewelry, and livestock.
- Homestead and other exemptions that can limit collections.
- Getting liens attached to vehicle titles to prevent sale or trade-in.
- Options for renewing and extending judgments nearing expiration.
- The importance of tracking judgments long-term and having a management system.
AND MORE TOPICS COVERED IN THE FULL INTERVIEW!!!
You can check out the full episode and subscribe at https://youtu.be/ANDS_h_HxHI?si=esFmEasOm2YiUK7V.
If you want to know more about the SVL Law Team, reach out at https://svllaw.com/contact-us/.
When a credit union member files for bankruptcy, it can present challenges for the credit union. In this episode of Banking on Credit Unions, hosts Jim Sorensen and Blair Boyd offer key insights to help credit unions successfully navigate member bankruptcies.
This week, Jim and Blair outline critical strategies credit unions need to be aware of — including avoiding violations of the automatic stay, properly managing member accounts and payments after a bankruptcy filing, and knowing when to involve legal counsel.
Tune in to this week’s episode so you too will be equipped with practical tips to navigate the complex legal landscape when members file for bankruptcy protection. Bankruptcy can be a tough time for anyone involved so it’s important that you safeguard your credit union during this challenging process.
Other subjects we covered on the show:
- What actions violate the automatic stay and how to avoid costly mistakes?
- Strategies for managing member accounts and payments after a bankruptcy filing.
- Determining when your credit union needs to involve legal counsel.
AND MORE TOPICS COVERED IN THE FULL INTERVIEW!!!
You can check out the full episode and subscribe at https://youtu.be/MJ5JoCEI8zc?si=q5EAg7SQ-IbadDqR.
If you want to know more about the SVL Law Team, reach out at https://svllaw.com/contact-us/.
