around the bar
July 31, 2009

Homeowners Versus Banks: Giving Foreclosures the K.O. Punch

At opposing corners of the ring that is the U.S. housing market, homeowners and banks are battling it out over bad loans. But no one wins when it comes to foreclosure. Homeowners don’t want to lose their homes, and banks don’t want to be landlords. The result has been a growing number of vacant homes, deteriorating rapidly and blighting communities.

Is it possible to find a middle-ground solution between lenders and debtors, even though they have different agendas? A panel session sponsored by the ABA Commission on Homelessness and Poverty, “Preventing Foreclosure: A Win-Win Solution for Everyone,” suggests that there may be resolution.  

Session panelists will suggest foreclosure prevention strategies for your clients, defenses to foreclosure and other best practice tips. They will also share advice on how to work with lenders to modify loans or extend the original terms as well as discuss model court programs utilizing mediation strategies to prevent foreclosure. Moreover, learn what resources are available and how to avoid mortgage rescue scams.

“Preventing Foreclosure: A Win-Win Solution for Everyone” takes place on Friday, July 31, 2:00 to 3:30 p.m.

Panelists include: Donald Brewster, deputy general counsel, Penny Mac, Jean Constantine-Davis, lawyer, AARP Foundation, Jacqueline Hagerott, manager, Dispute Resolution Section, Supreme Court of Ohio, Michael Krimminger, special advisor to the chairman of the U.S. FDIC, Annette Rizzo, judge of the Common Pleas Court, Residential Mortgage Foreclosure Diversion Program, Philadelphia, Pa. The moderator is Casey Trupin, commission chair.

**Additional Sponsors: Section of Business Law, Section of Dispute Resolution, Forum on Affordable Housing and Community Development Law, Standing Committee on Pro Bono and Public Service, ABA Center for Pro Bono**