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The Washington Deed of Trust Act was amended in both 2009 and then again in 2011. These amendments created new definitions and procedures, not only for lawyers and trustees, but also for lenders. New rules were defined for tenant notices and evictions and a mediation procedure implemented for foreclosures of owner occupied residential property. Time periods for post-foreclosure evictions have changed for tenant occupied residential property. The changes are varied and must be acknowledged in current foreclosure actions.
In addition, the challenging economic market has varied lender strategies for realization of real property and recovery of debt following foreclosure. Actions against guarantors for a deficiency in the commercial context were rare previously. The reduction in property values has caused guarantor deficiency actions to increase and has brought additional scrutiny to the factual issues of fair value recovery standards under the statute.
Bankruptcy filings have increased as economic times have worsened, leading to more filings by borrowers during the foreclosure process, and guarantors after the foreclosure has been completed. Distressed property conditions have also led to utilization of receivership remedies as an alternative to property management and sale.
These developments and related issues will be discussed by an experienced panel of foreclosure specialists. At the conclusion of the presentation, the panel will discuss ethical issues and answer questions about these new and interesting issues.
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On Demand
This seminar is available via On Demand,
which will allow you to view the recording from computer.
Please read the System Requirements for the On Demand prior to ordering.
This Program will NOT currently work on a MAC.
There was a recent update to the media player and it is not compatible to the MAC.
Microsoft is working to fix this problem.
This seminar must be downloaded and viewed before it expires on May 11, 2013
If you have questions call 800-574-4852 or send an email to info@theseminargroup.net
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Credits: See the credit section for full information
WA MCLE - 6.0 Hours of Self-Study Credit, including 1.0 Hours of Ethics Credit
OR CLE - 5.75 General & 1.0 Ethics CLE Credits
Paralegal - 6.25 Hours of CLE Credits
Contractors and Engineers – May Qualify
Who Should Attend:
Attorneys
Real Estate Professionals
Bankers
Lenders
Developers
Contractors and Subcontractors
Engineers
Anyone with a Stake in Today’s Foreclosure Market
Thursday, Apr. 26, 2012
| 9:00 | Introduction and Overview |
Overview of the State of Foreclosures; Bankruptcy
and Foreclosure; Changes in the Way Creditors
View Foreclosure; Changes in the Way
Foreclosures are Processed
Law Offices of Karen L. Gibbon PS
Schweet Rieke & Linde PLLC
| 9:10 | Foreclosure Fairness Act |
Legislative Changes and Possible Amendments;
Department of Commerce Changes; New
Procedures and Mediation Requirements; View of
the Debtor, the Creditor, and the Mediator
Law Offices of Karen L. Gibbon PS
Leen & O’Sullivan PLLC
Foreclosure Prevention Unit
Northwest Justice Project
Managing Director, Public Safety
Washington State Department of Commerce
| 11:15 | Standing – Who Holds the Note? |
Loan Drafting Implications – State Law
Component; Bankruptcy Component; Motions and
Claims for Disallowal; Rights and Requirements
of Note Holders; Transfer of Liability; Transfer of
Permits
Managing Director and Co-Fo
Aebig & Johnson Business Resolutions LLC
Williams Kastner PLLC
| 1:15 | Commercial Foreclosure |
Guarantor Deficiency Liability; Fair Value Tests;
Use of Receivers; Sale of Property in Receivership
Lasher Holzapfel Sperry & Ebberson PLLC
Schweet Rieke & Linde PLLC
Borrower vs. Lender and Trustees; Servicers vs.
Lender and Trustees; Case Law Update – Murth
Case
Consumer Protection Division
Office of the Attorney General, State of Washington
| 3:45 | Ethics Considerations of Attorneys Serving
as Trustees |
The Trustee’s Duties: Are the Duties of a Lawyer
Trustee Different from a Non-Lawyer Trustee?
Common Practical Scenarios
Schweet Rieke & Linde PLLC
Karen L. Gibbon, Program Co-Chair, is founder of the Law Offices of Karen L. Gibbon PS. She has 25 years of experience in real estate law including closings, drafting and review of agreements relating to real estate, judicial and non-judicial real property foreclosures of conventional, VA and FHA insured loans, real estate contract forfeiture actions, and evictions.
Thomas S. Linde, Program Co-Chair, a partner with Schweet Rieke & Linde PLLC, has become one of the leading experts in the areas of real estate, and creditor’s rights and remedies law. He has 25 years of specialized practice in the areas of real estate transactions and financing, judicial and non-judicial real property foreclosures, real estate contract forfeitures, evictions, and the representation of creditors in bankruptcy court proceedings.
Sheena R. Aebig is Managing Director and Co-Founder of Aebig & Johnson Business Resolutions LLC. She brings over 35 years of experience practicing law, a career that focused on insolvency-related matters and troubled business resolutions.
Marshal L. Ferguson is an attorney with Williams Kastner PLLC.
Kevin P. Hanchett is Of Counsel with the Seattle law firm of Lasher Holzapfel Sperry & Ebberson PLLC. He started with the firm in 1988, focusing his legal practice in the area of debtor-creditor, commercial litigation and corporate financial matters.
Sheila M. O’Sullivan is partner with Leen & O’Sullivan PLLC. Her practice emphasizes bankruptcy, foreclosure-related issues and consumer law. She is a certified mediator under the Foreclosure Fairness Act and a member of the WSBA Creditor-Debtor Section Executive Committee.
Eulalia “Lili” Sotelo has practiced consumer and housing law for 16 years and has been a legal services attorney for the last ten. As the Senior Attorney of the Northwest Justice Project’s Foreclosure Prevention Unit, she oversees a statewide pro bono program and represents homeowners facing foreclosure.
James T. Sugarman is an Assistant Attorney General, Consumer Protection Division, with the Office of the Attorney General, State of Washington. He specializes in the protection of vulnerable consumer groups such as the elderly, disabled and recent immigrants. He previously served as Director of the Financial Abuse Unit of AARP - Legal Counsel for the Elderly, as an attorney with Mountain State Justice in West Virginia, and as an attorney with DNA – People’s Legal Services on the Navajo Nation.
Richard Torrance is the Managing Director for the Public Safety Unit at the Washington State Department of Commerce, where he manages Commerce’s implementation of the state’s new Foreclosure Fairness Program. Prior to this, he managed the Community Services Block Grant Program, the Long-term Care Ombudsman Program, Community Voice Mail and the Retired and Senior Volunteer program. He also helped design the Developmental Disabilities Endowment Fund.
This seminar is approved for the following homestudy credits:
WA MCLE
This course has been approved by the Washington State Bar for 6.0 hours of Washington MCLE self-study credit, including 1.0 hours of ethics credit.
OR CLE
This course has been approved with the Oregon State Bar for 5.75 general CLE credit hours and 1.0 ethics credit. - The Seminar Group is an Accredited Sponsor.
Paralegal
This seminar has been approved by the National Federation of Paralegal Association for 6.25 hours of Continuing Legal Education credits.
Contractors & Engineers
Contractors and engineers may qualify for continuing education hours through the American Institute of Constructors & Construction Management Association of America.
If you are purchasing only certain portions of the seminar then the full credit amount does not apply. If you need assistance calculating the number of credits available for a certain session please call our office at 800-574-4852. If this seminar has not been approved for the credits you require, let us know and we will look into it for you.
Information on Continuing Education Credits
Description of Products
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