Foreclosure and Loan Workout Procedures Seminar
Guide Your Clients Through the Best Solution for Their Situation
This course is designed to provide a procedural orientation to the foreclosure process and alternatives to foreclosure. Expert faculty will identify the options available for loan defaults and guide you through their mechanics – from loan modifications to short sales and the foreclosure process itself. Along with this engaging seminar, you'll receive a reference manual filled with in-depth, detailed information on each of the options discussed, so you can dig into specific laws as you need them. Register today!
- Learn what loss mitigation solutions are available in residential situations and how to put them in place for your clients.
- Walk through the non-judicial foreclosure process and sale to avoid legal missteps when you're guiding clients through them.
- Identify the difference between a simple restructure and a troubled-debt restructure.
- Understand how to negotiate the best possible loan modification solution.
- Be prepared to handle the entire short sale process.
- The Non-Judicial Foreclosure Process
9:00 - 10:30, Karen L. Gibbon
- Foreclosure Timeline
- Overview of Chapter 61.24, RCW, the Deed of Trust Act
- 2011 Amendments, The Foreclosure Fairness Act – Changes to Pre-foreclosure Loss Mitigation Requirement
- Emphasis on Housing Counselors, the new Mediation Program, the Foreclosure Fairness Fund, Liability under the Consumer Protection Act
- Troubled Debt Restructuring (TDR) Transactions
10:45 - 12:15, Jeffrey B. Wells
- Loan Modifications
1:15 - 2:45, Ronald G. Brown
- Programs and Incentives Available
- Submitting a Loan Modification Request
- Handling Your Client's Case
- Negotiating the Best Possible Loan Modification
- Short Sale Procedures
3:00 - 4:30, Lynn H. Arends
- What is a Short Sale and When can it be Done?
- Benefits of Short Sales
- Parties Involved
- Navigating the Process
- Short Sale Request
- Short Sale Package – Review of Documents Included
- Implications of a Short Sale