Mortgage foreclosures can raise a host of issues outside the scope of standard practice and procedure. This handbook equips the reader with alternative statutory and nonstatutory remedies and details how to handle seller financing and forfeiture of installment agreements; deficiencies, surpluses, and entitlements; and loan workouts and short sales. Other topics include bankruptcy in foreclosure, environmental liability for lenders and purchasers, and income tax consequences.
General Editor:
William J. Anaya, Greensfelder, Hemker & Gale P.C., Chicago, General Editor
Chapter 1 —Alternative Statutory and Nonstatutory Remedies
Chapter 2 —Seller Financing and Forfeiture of Installment Agreements
Courtney E. Kennedy and Emily R. Vivian, Ehrmann Gehlbach Badger & Considine, LLC, Dixon
Chapter 3 —Deficiencies, Surpluses, and Entitlements
Sandra A. Aguilera and Vanessa E. Seiler, Manetti Aguilera Seiler LLC, Bannockburn
Chapter 4 —Bankruptcy Considerations in Foreclosure
Jeffrey M. Sniadanko and Joseph A. Archambeau, Clark Hill PLC, and Barry A. Chatz, Saul Ewing LLP, Chicago
Chapter 5 —Lender’s and Purchaser’s Environmental Liability Prior to, During, and After Foreclosure
William J. Anaya, Greensfelder, Hemker & Gale P.C., Chicago, and Mary C. Hofmann, Greensfelder, Hemker & Gale P.C., Cincinnati, OH
Chapter 6 —Loan Workouts and Short Sales
Erica C. Minchella, Erica Minchella & Associates, Skokie
Chapter 7 —Income Tax Consequences
Adam C. Toosley, Smith Gambrell Russell LLP, Chicago
