Nobody Made the House Payment – What Happens Now? This discussion will review the fundamentals of a foreclosure action, following default on a secured loan. Because the deed of trust is by far the predominant instrument in use for securing real estate loans (and especially home loans), this seminar will focus on residential deeds of trust, what happens following a default, and the homeowner's rights, responsibilities and potential defenses. 
 
Topics Include:

• Demand
• The basics of a trustee’s sale
• Reinstatement or Loan Payoff
• Deficiency liability (and defenses)
• Excess proceeds
• Potential defenses

 
The discussion will be oriented toward the practitioner who is not an expert in foreclosure law, but who is looking to understand the basics of foreclosure.
 
*Program Chairs: 
Robert Williams, Gust Rosenfeld, PLC
Christopher McNichols, Gust Rosenfeld, PLC 
 
* For more information about this program's faculty, please check out the faculty biographies page, available for download in the 'Materials' tab.
 
ABOUT THE MODEST MEANS PROJECT
 
The Modest Means Project provides low-cost legal assistance to people who cannot afford the expertise of attorneys at standard rates, but who do not qualify for free legal services due to income qualification or other restrictions. For more information about the program, and to volunteer, visit www.azbar.org/modestmeans.