A recent case illustrates how far lenders will go in trying to nail borrowers when lenders come up short in a foreclosure sale. The tactic did not succeed in Boucher Investments LP v. Annapolis-West LP, 2001 Md. App. (Oct. 31, 2001), but the case serves as a lesson for both lenders and borrowers.
Boucher Investments held a second deed of trust (“mortgage”) encumbrancing a small office building that depended on an adjacent shopping center for parking. When the first mortgage lender foreclosed, the proceeds of the sale were insufficient to pay Boucher under its second mortgage.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
