Learn to identify and assess zombie foreclosure problems and create best practices for handling them.
While Nevada continues its journey out of the real estate crisis, one of the many issues that has arisen is the problem of 'zombie foreclosures' and their impact on our communities. This topic will explain what a 'zombie foreclosure' is and discuss some of its causes. Moreover, this material will discuss the State of Nevada's three-pronged approach to addressing the problem of 'zombie foreclosures.' The topic will review how the legislative response impacts all of the constituencies to a home, including lenders, homeowners, homeowners associations, municipalities and others. You will gain a better handle on how to identify and assess your own zombie foreclosure problems and to create best practices for handling them.
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Why Lorman?
Over 34 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
What Is a "Zombie Foreclosure?"
Why Do We Care?
- Impact on Community
- Recent Trends in "Zombie Foreclosures"
What Causes a "Zombie Foreclosure" to Occur?
- Length of Time to Foreclose
- Title Issues
- Bankruptcies
- Adjustments to Foreclosure Processes
- Other Explanations
Nevada Foreclosure Process in General
- Current Length of Time to Complete a Foreclosure
- Changes in the Foreclosure Process Resulting in Delays
- Foreclosure Mediation
How Has Nevada Addressed the "Zombie Foreclosure" Problem?: Expedited Foreclosures, HOA Superpriority and Lender Registration Legislation
Expedited Foreclosures
- SB278
- Abandoned Property Identification
- Expedited Process
- Limited Utilization Since Enacted
HOA Super-Priority Rights
Registration of Vacant Properties
- Nevada Cities Have Adopted Ordinances
- Registration Procedures in General
- Obligations of the Lender to Maintain Properties During the Pendency
- Of Foreclosure
- Practical Considerations of Registration Laws
- Recovering Advances
- Disclosing Known Issues to Prospective Buyers
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Why Lorman?
Over 34 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
This course was last revised on May 17, 2018.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 34 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
Michael R. Brooks
Kolesar & Leatham
- Shareholder with Kolesar & Leatham
- Practice over the years focused on creditor’s rights and covers a broad range of matters from complex litigation and bankruptcy related matters
- Licensed in California and Nevada
- J.D. degree, University of Southern California Law Center; B.A. degree, cum laude, California State University
- Can be contacted at 702-362-7800 or [email protected]
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Why Lorman?
Over 34 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.
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