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OnDemand Course

Foreclosing on Secured Collateral: What You Need to Know

Get tips for evaluating a lender's contractual and security positions and learn how to formulate and execute foreclosure plans.

Loan defaults remain significant and secured creditors continue to have to think about enforcing their rights through foreclosure of real and personal property collateral. This can be a complicated process that requires a good deal of planning in order to reach a successful outcome. This topic will help the people responsible for loan workout and enforcement, as well as their advisors, evaluate the lender's contractual and security positions and formulate and execute foreclosure plans for loans secured by both real and personal property. It will also touch on issues relating to resale of foreclosed property.

89 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Evaluating Your Strategic Position

  • Borrower and Guarantor Evaluation
  • Pre-Foreclosure Due Diligence
  • Evaluating Your Legal Position
  • How to Fix Holes in Your Strategic Position

Formulating a Foreclosure Plan

  • Real Property, Personal Property, and Mixed Collateral
  • Share Pledge vs. Security Interest in Assets
  • Judicial vs. Nonjudicial
  • Sale of Entire Business vs. Asset-by-Asset Sale
  • Bidding Strategy
  • Collecting Deficiencies

Conducting the Foreclosure Sale

  • Pre-Foreclosure Provisional Remedies
  • Hiring Professionals
  • Commercial Reasonableness
  • Credit Bidding
  • Obtaining Possession of the Property

Reselling the Property

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on October 27, 2021.

Call 1-866-352-9540 for further credit information.

  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

William R. Wyatt

William R. Wyatt

Sheppard, Mullin, Richter & Hampton LLP

  • Partner in Sheppard, Mullin, Richter & Hampton LLP’s Menlo Park, CA office
  • Represents lenders, agents, participants, and borrowers in documenting, restructuring, and enforcing commercial loan transactions secured by both real and personal property
  • Has presented webinars on foreclosing on real and personal property collateral and on due diligence considerations for participation loans
  • Member of the New York and California bars, and has practiced both in Sheppard Mullin’s New York and San Francisco offices
  • Can be contacted at [email protected] or 650-815-2655
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 408303
Published 2021
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Available in Multiple Formats

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