THE AMAZING STORY OF HOW OUR BANKING AND FINANCIAL SYSTEM CHANGED REAL ESTATE FOREVER, AND WHAT YOU NEED TO KNOW ABOUT COMING CHANGES

Mortgage modifications allow borrowers and lenders to extend loan maturity, prevent defaults and foreclosure, and otherwise restructure loan terms. They provide an opportunity for lenders to "clean up" documentation ambiguities and potentially contentious issues, as well as obtain waivers and releases as part of the consideration for granting the term changes. Modifications that significantly revise the loan terms increase the risk that subordinate lenders and bankruptcy trustees may challenge the priority of liens encumbering the mortgaged property. This is particularly true when a modification relates to an incomplete construction project that is being restarted. Title insurance policies have discontinued creditors' rights coverage and do not protect against a loss of lien position. They have also significantly reduced or altered the scope of mechanics' lien coverage. Counsel involved with loan modifications must know how to obtain the optimal title insurance coverage. Listen as our authoritative panel of attorneys discusses current trends in commercial mortgage modifications and strategies for lenders' and borrowers' counsel to ensure that changes protect their clients' interests against potential lien issues, title pitfalls, and bankruptcy concerns.

Many agents think they can't work in luxury real estate because a) they have no prior experience in it and b) they weren't born with a silver spoon in their mouth. In Part 1 of this series, Jack Cotton explains how any agent in any market can tap this niche using a seven-step process, including developing a unique value proposition for luxury sellers, overcoming objections to lack of experience, and finding your first luxury listing.

Why is resident engagement vital within seniors housing communities? How has resident engagement changed during COVID? How can operators create a better living experience for residents, while also creating staff and operational efficiencies?Tune in for an upcoming discussion to understand how new technology can improve the quality of life for seniors while reducing operator costs.

Know how to handle real estate transactions involving contaminated or potentially-contaminated properties. Many real estate transactions involve properties that have known or potentially unknown environmental contamination. Because of the strict liability imposed by environmental statutes it is important that real estate transactions be proceeded by appropriate due diligence and that the existence of any environmental contamination and associated liability be allocated in the Purchase and Sale Agreement or other applicable transaction documents (i.e., lease or financing documents).