This comprehensive procedural orientation to the foreclosure process and alternatives to foreclosure is a new practitioner's dream come true. Expert faculty identify all of the options available for loan defaults and guide you through their mechanics – from forbearance agreements and loan modifications to short sales and the foreclosure process itself. Get the most bang for your buck - order today!

1. The Foreclosure Process
2. Loan Modifications
3. Short Sale Procedures
4. Deeds-in-Lieu of Foreclosure
5. Forbearance Agreements – Structure and Important Provisions
6. Troubled Debt Restructuring (TDR) Transactions
7. Rent Attachment – Cash Management Agreements
8. Receivership
9. Lender Liability Issues
10. Ethical Considerations When Dealing With Distressed Property

1. The Foreclosure Process
   9:00 - 9:40, Michael I. Rich
   1. Curing Title Problems Prior to Commencing the Action
   2. Foreclosure Timeline
   3. Demand Letter
   4. The Foreclosure Action – Lis Pendens, Parties Named, Summons, Complaint
   5. Foreclosure/Sheriff's Sale – Notice Requirements, Bidding Process, Closing, Etc.
   6. Pursuit of Guarantors
      1. Before Foreclosure Sale?
      2. Checking Percentage Guarantees
   7. Deficiency Judgment Issues
2. Loan Modifications
   9:40 - 10:10, Michael I. Rich
   1. Programs and Incentives Available
   2. Submitting a Loan Modification Request
   3. Handling Your Client's Case
   4. Negotiating the Best Possible Loan Modification
3. Short Sale Procedures
   10:25 - 11:10, Michael I. Rich
   1. What is a Short Sale and When can it be Done?
   2. Benefits of Short Sales
   3. Parties Involved
   4. Navigating the Process
   5. Short Sale Request
   6. Short Sale Package – Review of Documents Included
   7. Implications of a Short Sale
4. Deeds-in-Lieu of Foreclosure
   11:10 - 11:40, Michael I. Rich
   1. What is a Deed-in-Lieu and When Should You use It?
   2. Liabilities Associated With Deeds-in-Lieu
   3. Junior Liens and Non-Merger Provisions
5. Forbearance Agreements – Structure and Important Provisions
   11:40 - 12:15, Stuart A. Best
   1. Forbearance Agreement Overview and Variations
   2. Review of Existing Loan Documentation
   3. Debtor Provisions – What the Debtor Wants to Avoid
   4. Creditor Provisions – What the Creditor Wants to Include
6. Troubled Debt Restructuring (TDR) Transactions
   1:15 - 1:45, Stuart A. Best
7. Rent Attachment – Cash Management Agreements
   1:45 - 2:15, Stuart A. Best
   1. Advantages and Disadvantages
   2. Interference of a Contract
   3. Collection
8. Receivership
   2:15 - 2:45, Stuart A. Best
   1. Types of Receivers (and Reasons to Appoint Them)
   2. Rights Involved in Appointing a Receiver
   3. Procedures for Appointing a Receiver
   4. Interplay of Bankruptcy
   5. Title Insurance Considerations
   6. Receiver Sale – What You Need to Know
9. Lender Liability Issues
   3:00 - 3:30, Stuart A. Best
   1. Circumstances With the Most Risk of Lender Liability
   2. Breach of Oral Agreement
   3. Breach of Contract
   4. Breach of Obligation of Good Faith and Fair Dealing
   5. Fraud
   6. Negligent Misrepresentation
   7. Best Practices for Avoiding Lender Liability
10. Ethical Considerations When Dealing With Distressed Property
    3:30 - 4:30, Stuart A. Best
    1. Client-Lawyer Relationship – Scope of Representation
    2. Conflicts of Interest
    3. Lender Liability Issues
    4. Mortgage Foreclosure Defense
    5. Attorneys' Fees and Expenses

STUART A. BEST is a shareholder at the law firm of Weltman, Weinberg & Reis Co., L.P.A., where his practice areas include creditors' rights, collections, real estate, corporate, litigation, probate and real estate foreclosure. Weltman, Weinberg & Reis Co., L.P.A., is a plaintiff firm but Mr. Best's department is focused on defense. He has lectured on his areas of practice to various professional groups and organizations. Mr. Best earned his B.A. degree from the University of Michigan and his J.D. degree from Detroit College of Law. He is a member of the Oakland Bar Association, Greater Detroit Bar Association and the State Bar of Michigan (member, Real Estate Section).

MICHAEL I. RICH is an attorney for Weltman, Weinberg & Reis Co., L.P.A., where he practices in the areas of foreclosure and evictions. He earned his B.S. and M.B.A. degrees from Wayne State University and his J.D. degree from Wayne State University School of Law. Mr. Rich is a member of the State Bar of Michigan.

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