This course is intended to appeal to the student with an interest in the laws governing real estate financing and land conveyancing, with a particular focus on the laws governing mortgages, installment sales contracts, the equity of redemption, foreclosure, deficiencies (including anti-deficiency legislation), pre and post-foreclosure relationships, deeds in lieu of foreclosure, receivers, future advance mortgages, purchase money mortgages, title concerns and general priority issues. The emphasis of the course will be on the legal relationship between lenders and borrowers, competing priority issues among lenders, the use of mortgage substitutes, alternative mortgage devices, construction financing, environmental law concerns and lending discrimination. The course will also cover issues relating to the current mortgage and foreclosure crisis, including governmental programs and statutory schemes designed to curb mortgage foreclosures and assist borrowers in obtaining loan modifications, refinancing, short sales and loss mitigation methodologies, such as foreclosure mediation.
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