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GERSON LAW FIRM APC has successfully moved close to completion or concluded several receivership actions on behalf of lenders and special loan servicers in the last sixty days.
“During August alone, our lender clients saw receivers we put in place for them, open or close 10 escrows for sale of mortgaged properties,” said Gordon L. Gerson. “There were no dog days of August on our receivership cases,” added Gerson.
Lenders are continuing to see the advantage of having receivers appointed on defaulted loans, and having the receivers sell the property during the pendency of the receivership case as opposed to ultimately foreclosing on the mortgaged property. Among benefits, lenders are avoiding having mortgaged property inventoried as REO on their books or incurring unknown liability should they go forward with foreclosure sales.
GERSON LAW FIRM APC has distinguished itself in receivership litigation by the volume of cases it handles, the quick turn around it provides its clients, and its legal fees. GERSON LAW FIRM APC also teams with experienced local counsel in some cases, to reduce travel associated costs of litigation, and to also avoid being “home-towned” by courts in small town jurisdictions.