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Banking

Will Upcoming Changes from Credit Reporting Agencies on Medical Debt Actually Make Things Worse?

  • March 29, 2022
  • by John Stoddard

Equifax, Experian, and TransUnion, the three major consumer credit reporting agencies, recently announced that as of July 1, 2022, they will make changes to the way medical collection debt is reported. These changes may provide some initial benefits to consumers. But it’s unclear whether they […]

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A Surge of Collections and Bankruptcies in 2022?

  • January 17, 2022
  • by John Stoddard

Many of us who monitor the economy for signs of repayment distress were certain in early 2020 that the pandemic would result in a dramatic increase in consumer and commercial collections and bankruptcy filings.  Some bankruptcy firms even hired additional lawyers in anticipation of the […]

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Homeowners’ attempt to declare foreclosure proceeding untimely fails

  • November 27, 2020
  • by Admin

  Most if not all mortgage agreements contain a debt acceleration clause. That clause allows the bank to declare the entire balance due upon the occurrence of an event—like the failure to make a payment. In Akouri v. Comerica Bank, one of the questions addressed […]

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Business Owners Get More Flexibility with PPP Loan Forgiveness

  • June 8, 2020
  • by Zana Tomich

PPP loan recipients got some welcome relief on Friday when the Paycheck Protection Program Flexibility Act of 2020 was signed into law, extending the amount of time to use the loan and making it easier to be eligible for loan forgiveness.  Originally, in order to […]

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Developers Sigh Relief as NonRecourse Mortgage Loan Act found Constitutional

  • April 29, 2013
  • by Zana Tomich

A recent Michigan Court of Appeals opinion has caught the attention of lenders and developers alike. In Wells Fargo Bank NA v. Cherryland Mall Limited, ___ Mich App___ Case No. 304682 (April 9, 2013), the Court on remand from the Michigan Supreme Court, rejected the […]

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Bank Not Liable for Altered Appraisal

  • March 6, 2013
  • by Zana Tomich

A recent Michigan Court of the Appeals case, Xpress Apraisal Group, Inc v. Flagstar Bank, (unpublished February 14, 2013), found a Bank was not liable for an altered real estate appraisal, which resulted in a third party’s refusal to continue doing business with Plaintiffs. 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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The business and employment attorneys of Dalton & Tomich take your business just as seriously as you do. Attorneys Zana Tomich and Noel Sterett are trusted by closely held family businesses and others across Michigan and Northern Illinois as invaluable partners and counselors. We guarantee all your calls and emails will be returned within one business day so you can focus on what you do best: running your business.