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Land Use Attorneys
and Business Law Experts

Partners to Religious Organizations, Property Owners and Businesses

Banking

Michigan Court of Appeals Affirms Assigned First Mortgage Priority Over Condo Liens

  • November 14, 2012
  • by Zana Tomich

A recent decision by the Michigan Court of Appeals provided some relief to the financial services industry by holding that a first mortgage of record has priority over a later recorded lien to secure unpaid condominium dues, even though the mortgage was assigned after the […]

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Changes to Power of Attorney Act Require Acknowledgement

  • September 19, 2012
  • by Zana Tomich

Recent changes to Michigan’s Power of Attorney laws, require a Durable Power of Attorney drafted after October 1, 2012, to have the designated attorney or agent to execute an acknowledgment of legal responsibilities before exercising authority under each individual durable power of attorney. The statute […]

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Level One Bank is to acquire Oxford Bank

  • September 17, 2012
  • by Daniel P. Dalton

Congratulations to our client, Level One Bank for its acquistion of Oxford Bank. As reported in Crain's Detroit Business: Farmington Hills-based Level One Bancorp Inc. announced Thursday afternoon that it has entered into an agreement to buy the stock of Oxford Bank Corp. (OTCBB: OXBC), […]

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Plaintiff Lacks Standing to Challenge Foreclosure Proceedings after Redemption Period Expired

  • August 22, 2012
  • by Zana Tomich

The Michigan Court of Appeals recently affirmed a decision by the Oakland County Circuit Court that a Plaintiff who defaulted on her mortgage, did not have standing to challenge the foreclosure proceedings after the redemption period expired. The Plaintiff in Sagmani v. Lending Associates LLC, […]

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Before Foreclosing, Financial Institutions Must Ensure Interest is Properly Recorded

  • June 19, 2012
  • by Admin

A recent decision from the Michigan Court of Appeals makes one thing clear for all financial institutions initiating foreclosure proceedings: Make sure you follow the rules and have the necessary documentation before you start a foreclosure proceeding. In Everbank v. Hikmat Zeer, the Court of […]

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Level One Bank honored among Michigan 50 Companies to Watch

  • May 9, 2012
  • by Zana Tomich

Congratulations to client, Level One Bank, on being named one of the “Michigan 50 Companies to Watch”. The “Michigan 50 Companies to Watch” list is comprised of second-stage companies – those exhibiting exceptional entrepreneurial leadership and creative innovation while employing 6 to 99 full-time equivalent […]

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Michigan Court of Appeals: Filing Suit Does Not Toll Right of Redemption Period

  • May 2, 2012
  • by Admin

The Michigan Court of Appeals has held that, after foreclosure proceedings and a sheriff’s sale, filing suit against a mortgage company does not serve to toll the six-month statutory right of redemption period. The Court of Appeals announced today its unpublished decision in Nadia Awad […]

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Fewer Bank Failures in 2012

  • April 18, 2012
  • by Zana Tomich

American Banker recently reported that the pace of bank failures will slow considerably this year as the industry continues to recover from the real estate bust, according to the acting head of the Federal Deposit Insurance Corp. According to the article, sixteen banks have collapsed […]

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When the loan officer calls the Church on a loan in default: Foreclosures and options for Churches

  • March 19, 2012
  • by Daniel P. Dalton

The Wall Street Journal recently sounded the alarm of the rise in foreclosures of religious entity’s buildings it a story captioned “Church Foreclosures seen as the ‘Next Wave’ in Crisis.” Additional press reports and financial reports of lending institutions affirm that church foreclosure is rising. […]

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Officials Sign $25 Billion Foreclosure Deal

  • February 14, 2012
  • by Admin

On February 9, President Obama announced a $25 billion foreclosure settlement agreement between the federal government, 49 state attorneys general (all states but Oklahoma participated), and five of the country’s biggest mortgage lenders: Ally Bank (formerly GMAC), Bank of America, Citicorp, JPMorgan Chase and Wells […]

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The attorneys of Dalton & Tomich, PLC have the experience and the knowledge to work with you to develop a legal solution that helps accomplish your goals. Our collaborative approach has helped leaders like you grow businesses and banks, develop and expand churches, and build nonprofit organizations nationwide.