The Mortgage Foreclosure Process:
What the Real Estate Professional Should Know
While you may have tried to avoid them, foreclosures keeping coming with
no end in sight. As a real estate professional you are greatly impacted by the foreclosure wave whether you are dealing
with a seller who is trying to sell to avoid foreclosure, selling during a foreclosure or the lender who now owns the property
and is selling it. To properly represent buyers or sellers in this market, you must have a basic understanding of the
foreclosure process to help spot and/or to avoid issues and to help find solutions.
Many real estate professionals have a basic understanding of the foreclosure process
but do not realize that there are different types of foreclosures that are available to lenders and each raise different issues
to sellers and buyers. A mistake as to how long the redemption period runs can result in disaster if your marketing
plan was based on a 6 month period of redemption but, in fact, it was only five weeks.
Another potential problem is that many commonly held
"facts' about foreclosures are incorrect. They may be based on the laws of a different state, they may come from
an internet source that was wrong or it may have come from someone who thinks they understand the process but really don't.
The speakers at this seminar are real estate attorneys from Nash & Lodge who have a minimum of 20 years of real
estate legal experience and knowledge. While knowledge of the law is important, the ability to explain the law in a
way that is easy to understand is even more important. Our speakers are able to do that by using every day examples
and by allowing the seminar attendees to ask questions during the seminar. While we have an agenda, we want to make
sure that we cover in more detail the information that is most important to you.
The seminar will first go through the basics of a foreclosure
by advertisement. We will then discuss the basics of the other types of foreclosures and foreclosure options. Next,
we will discuss the issues that can arise, discuss how those issues can affect you or your client and possible solutions.
While the basics of foreclosures
have not changed a great deal over the years, the real estate and banking environment has undergone tremendous changes of
the the last three years and as a result, new issues are continually rearing up and how lenders act in a the foreclosure process
continually change as their troubles mount or subside. As a result, to understand foreclosures you must constantly re-educate
yourself on the new issues that are springing up in the marketplace. Knowing the basics of a foreclosure in 2006 will
not provide the answers you need in dealing with foreclosures in 2010.
Steve Nash and Bill Keyes are both experienced real estate attorneys with a great deal
of short sale and speaking experience. The seminar will contain practical, up-to-date information and will be presented
in an informal setting to allow you to ask the questions that you need answered.
3 Real Estate Continuing Education Credits Approved
