Web/AV: A New Landscape in Real Estate Law

ABA-CLE Podcasts presents
A Free PodCast (CLE credit may vary)
A New Landscape in Real Estate Law

http://www.abanet.org/cle/podcast/j09nlrpod-reg.html
Produced: May 20, 2009
Program File Format: MP3
Duration: 60 minutes, 7 seconds
MP3 File Size: 21 MB
Course Materials: Included in separate file 29 pages
MCLE Credit: This format/program may or may not be approved for MCLE credit in your state. Check with your state for approval of this format/program for MCLE use

Description

More than 3.3 million homes went into foreclosure in 2007 and 2008—about 5 percent of the mortgage loans in the U.S. Many experts expect 3 million more homes to go into foreclosure in 2009 alone. Additionally, some banks have estimated that it is possible that up to 16 percent of all residential mortgages will go through foreclosure during the next four years.

This crisis situation has led to a number of private and government-sponsored loan modification initiatives. But the early programs have had little success in reducing homeowners’ monthly payments and keeping people in their homes. The programs have been unpopular with both banks that do not want to see big cuts in loan principals and with homeowners who refuse the programs’ onerous terms. Securitization of loans has further complicated the process because individual homeowners, and the real estate attorneys who work with them, often cannot figure out who to discuss modifications with since they cannot identify who owns the loan.

Recently the Obama administration has instituted a new program for beleaguered homeowners facing foreclosure that tries to rectify some of the issues of previous initiatives, but the jury is still out on whether or not the program will be more effective than earlier ones.

This free downloadable audio program will examine:

• How the real estate crisis has developed
• The existing programs for homeowners in trouble including the new Obama initiatives
• The steps lawyers can take to keep homeowners in their homes, including the guidelines for participation in the new program
• The prospects for changes to Chapter 13 of the Bankruptcy code that could help those not helped by the loan modification programs

Faculty Members:

• O. Max Gardner, III
• Jaime Lathrop
• Marc S. Stern

System Requirements:
PC: Windows 2000 or newer with a soundcard
Mac: OSX 10.1 or newer
You must have a media player (Windows Media Player, Quicktime, RealPlayer, iTunes, etc.) installed on your computer to download the file, listen to the file, or transfer the audio program from your computer to an MP3 player. Please view your media player's help file for assistance with playing the file or transferring it to a portable MP3 player.

http://www.abanet.org/cle/podcast/j09nlrpod-reg.html