The Foreclosure Maze: What’s Your Strategy?
Foreclosures are an unpleasant aspect of lending. Given the increased number of foreclosures in a slow economic recovery, along with government scrutiny and media attention given to the subject, some common-sense (and legal) strategies may be needed to prevent more headaches for bank executives holding bad inventory.
Dinsmore attorney Toby Schisler presented a practical look at the foreclosure maze and what lenders can do to reduce liability as well as maintain a positive reputation with customers.
In this complimentary, 60-minute webinar, Toby discussed:
- Title issues
- Appointing receivers
- Sheriff vs. Receiver sales
- How lenders can avoid being seen as a “mortgagee in possession”
- Best practices to help lenders avoid the landmines (that can trigger a potential lawsuit) during a foreclosure proceeding
- Effective use of mediation and other devices to quickly and efficiently resolve foreclosure proceedings
- Pursuing guaranty liability, including carve-out guarantors
- How to handle the situation of a single loan secured by real estate located in multiple jurisdictions