Receiverships Obtained for Credit Unions

April 18, 2009
Posted in: News
By: Gerson

GERSON LAW FIRM APC successfully assisted two credit unions in obtaining receiverships in California’s central valley where the residential foreclosures have been of tidal wave proportions, and at one of San Francisco’s most prestige addresses on Nob Hill

The receivership obtained in California’s central valley was for a vacant convenience store/gas station location in Selma California, where a borrower default and hazardous materials were among the lender’s concerns pending foreclosure. The receivership in one of San Francisco’s best neighborhoods was for a residential/commercial mixed use property, where mismanagement was among issues pending foreclosure.

Earlier in April 2009, GLF working together with co-counsel in the Pacific Northwest, on behalf of a major west coast credit union, successfully obtained a receivership for a Holiday Inn in Vancouver, WA.

GLF’s national receivership practice is part of its on going commitment in assisting financial institutions throughout the United States in all aspects of loan recovery, including forbearance agreements, loan modifications, judicial and non judicial foreclosure, and deeds in lieu of foreclosure.