This seminar is designed for attorneys, presidents and vice presidents, loan officers, credit and collection managers.
The foreclosure process is one which is fraught with peril for the unwary yet it offers rewards for attorneys, investors and potential purchasers alike provided they have a sound knowledge base and understand how to protect themselves. This seminar is intended to educate counsel, lenders, staff, buyers and other interested individuals on the finer points, pitfalls, and procedures of foreclosure, from the underlying documents and theory through the details of advertisement, sale, and transfer. Attorneys will also benefit from a discussion of defenses against foreclosures and the ethical concerns inherent in the fiduciary relationship of a trustee or substitute trustee.
9:00 a.m. - 9:05 a.m.
9:05 a.m. - 9:15 a.m.
II. Source Of Foreclosure Rights
A. Genesis Of Rights: Code,
Contract And Cases
B. Sidebar Foreclosure Theory
9:15 a.m. - 9:45 a.m.
III. Basic Terminology, Parties,
Rights And Responsibilities
A. Trustee And Substitute Trustee
B. Secured Parties
C. Borrower/Property Owner
D. Junior Lienholders And Judgment Holders
9:45 a.m. - 10:30 a.m.
IV. Initiating The Foreclosure
A. Loan Defaults And Causes For Foreclosure
B. Property Subject To Foreclosure
C. Calling A Sale Subject To Prior Liens Or A Sale Free And Clear
10:30 a.m. - 10:45 a.m.
10:45 a.m. - 12:15 p.m.
V. Pre-Sale Process And Pitfalls
A. Substitution Of Trustee
B. The Federal Fair Debt Collection Practices Act
C. Acceleration Notices
D. Who Must Receive Notice Of The Sale
E. Tax Liens And Other Impediments
F. Advertisement Of Sale
G. Setting The Sale Date, Place And Time
H. When Must A Trustee Seek Aid And Direction Of The Court
I. Dealing With Investors
J. Dealing With Borrowers
K. Requests For Pre-Foreclosure Seizure
12:15 p.m. - 1:15 p.m.
Lunch (On Your Own)
1:15 p.m. - 1:45 p.m.
VI. Technical Details Of A Sale
A. Who Can Call A Sale
B. Who Can Bid At Sale
C. Process Of A Sale
D. Discretionary Postponement Of Sale Code
E. What Can Halt A Sale
1:45 p.m. - 2:00 p.m.
VII. Bankruptcy Filings
A. Impact Upon Foreclosure,
B. Remedies Relief From Stay
C. Notes Re: Bankruptcy Reform Act
2:00 p.m. - 2:20 p.m.
VIII. Post-Sale Lender Issues
A. Note Deficiencies
B. Damage To Premises, Securing Premises And Insurance
2:20 p.m. - 2:35 p.m.
2:35 p.m. - 2:50 p.m.
IX. Defenses To Foreclosure And
Statutory Protection For
A. Grossly Inadequate Consideration, Indicia Of Fraud Or Clouds On Title
B. Gross Failure To Follow Statute
C. Self-Dealing Or Conflict Of Interest
D. Loan Status Dispute/Failure To Provide Accounting
E. Defective Advertisement
F. Statutory Protection For Trustees
2:50 p.m. - 3:00 p.m.
X. Alternatives To Foreclosure
B. Deed In Lieu Of Foreclosure
3:00 p.m. - 4:00 p.m.
XI. Trustee Duties And
A. General Duty Of Impartiality And Neutrality
B. Post-Sale Duties
C. Post-Sale Litigation, Continuing Representation And Conflicts Of Interest
4:00 p.m. - 4:30 p.m.
XII. Conclusion And Questions