Learn Best Practices to Handle Foreclosures Confidently
If owning a home is the American dream, then losing it through foreclosure is the American nightmare. Learn how to make the foreclosure process as smooth as possible for your clients by taking a walk through the legal procedures. At this workshop, you'll gain hands-on experience of the entire real property foreclosure process with step-by-step example documentation. Don't miss this opportunity to build your skills. Register today!
- Avoid legal missteps during the foreclosure process by staying up to date on foreclosure and bankruptcy legislation and case law.
- Discover effective strategies to avoid lengthy foreclosure action and let your clients get on with their lives as soon as possible.
- Gain insight on the foreclosure sale's legally-required notices, tax issues, deficiency bids and distribution of proceeds.
- Learn best practices for handling foreclosure complications.
- Stay up to date on the latest IRS rules regarding tax treatment of foreclosed properties and available reliefs.
- Find out what red flags to watch for during the foreclosure process and how to successfully "head them off at the pass."
- Study the alternatives to foreclosure in-depth, so you can advise your clients on their loan default options.
- UPDATE: CASE LAW AND RECENT DEVELOPMENTS
9:00 - 9:45, Lois M. Vitti
- FORECLOSURE: AN IN-DEPTH WALK-THROUGH WITH LEGAL CONSIDERATIONS
9:45 - 11:00, Lois M. Vitti
- PHFA, Act 6, Act 91
- Pre-Foreclosure Process and Documents
- The Foreclosure Sale: Notices, Procedure and Documents
- Description of Property in Foreclosure Sale Advertising
- Keys to Spotting and Handling Issues That Typically Arise
- Insider Tips for a Smooth Foreclosure
- ALTERNATIVES TO FORECLOSURE
11:15 - 12:30, Linda A. Michler
- Reinstatement, Forbearance and Repayment Plans
- Mortgage Modification
- Partial Claim
- Sale, Pre-Foreclosure Sale or Short Sale
- Assumption by Qualified Buyer
- Deed-in-Lieu of Foreclosure
- Bankruptcy Loss Mitigation Program
- Other Statewide Mortgage Foreclosure Diversion Programs
- ADR and Mediation Programs
- Rule 233.1 and Recent Cases
- Defenses Including Predatory Lending
- TAX CONSEQUENCES OF FORECLOSURE
1:30 - 2:15, Linda A. Michler, Lois M. Vitti and Robert G. Xides Jr.
- IRS Reporting Requirements for Lender Losses
- Treatment of Debt, Form 1099 Filing
- The Mortgage Forgiveness Debt Relief Act
- Relief for Investor Owners of Residential and Commercial Property
- HOW BANKRUPTCY AND EJECTMENT CHANGES THE LANDSCAPE
2:15 - 3:15, Robert G. Xides Jr.
- The Automatic Stay
- Chapter 7 and 13 Basics
- Post-Foreclosure Sale
- Bankruptcy Filings
- Protecting the Creditor's Position
- Noteworthy Foreclosure Litigation
- Repetitive and Abusive Filings - Cases and Practice
- ETHICS IN FORECLOSURE
3:30 - 4:30, Linda A. Michler, Lois M. Vitti and Robert G. Xides Jr.
- Attorney's Affirmative Duties in Foreclosure
- Conflicts of Interest
- Wrongful Foreclosure, Abuse of Process and Frivolous Litigation
- Attorneys' Obligation to Monitor/Regulate Law Firm Practices and Clients' In-House Practices
- Issues Arising When an Estate is Involved
- One Spouse's Filing for Bankruptcy and Its Impact on Foreclosure
This basic-to-intermediate level program provides a hands-on walk through the foreclosure process for:
- In-House Counsel
- Mortgage Brokers
- Loan Officers