December 2, 2010
Posted in: News
By: Gerson

GERSON LAW FIRM APC obtained a receiver in Palmdale, CA for a multifamily property during the last week of November.

During the last week in November 2010, GERSON LAW FIRM APC also coordinated with local counsel in Arizona obtaining orders to have receivers put in place for multifamily property in Phoenix and Tucson, and also coordinated with local counsel in Nevada to have a receiver put in place on a multifamily property in Las Vegas. GERSON LAW FIRM APC is also working with local counsel on pending receivership matters in Oregon, Texas, Atlanta and Florida.

“GERSON LAW FIRM APC has maintained a national practice on loan originations for almost 15 years,” said Gordon L. Gerson, managing principal of the six lawyer law firm. “In this economic cycle, we have continued to represent clients who have trust and confidence in us to manage their receivership litigation and foreclosures not only in California, but also in other states, by coordinating with local counsel.”

Gerson also maintains that GERSON LAW FIRM APC is unique among law firms in that perhaps no other law firm of its size in the country has a nationwide practice primarily focused on the needs of financial institutions. GERSON LAW FIRM APC financial institutions practice exceeds that of most national and regional law firms offices located on the west coast.

Unique to this economic cycle is the extent to which GERSON LAW FIRM APC clients are seeking to have their receivers sell mortgaged properties as opposed to attempting to sell at foreclosure sales or as REO post foreclosure. Among reasons, (i) it is faster and more efficient with respect to problem asset disposition, (ii) avoids lenders being in the chain of title and concomitant problems arising, and (iii) avoids the need for lenders to operate the property post foreclosure if there are no buyers at foreclosure sale.