Oftentimes, a loan modification or forbearance agreement may be the solution to a borrower's default, whether caused by a temporary or permanent solution.

This webinar will distinguish the two and provide insight as to which one is better suited for a particular situation and what provisions should be included, and will also provide servicers, attorneys and investors with an understanding of the litigation issues that may thereafter arise should the borrowers default after executing the forbearance agreement, such as loss of priority, statute of limitations issues and consumer protection laws.What You'll Learn:Distinguishing Forbearance Agreements From Loan Modifications

• Loan Modifications Are Permanent; Forbearance Agreements Are Temporary
  
• Forbearance Agreements as Trial Modifications
  
• When Are Consents From Subordinate Lien Holders or Guarantors Required?
  
• Clearing Title While Forbearance Agreement in Effect Prior to Entering Into a Loan Modification

Forbearance Agreements Can Be Entered Into Before or During Foreclosure Action Commenced

Dual Tracking Prohibition Against Entering Judgment If Borrower Is Complying With Forbearance Agreement

Acknowledgments

• Ratification and Confirmation of Loan Documents
  
• Acknowledging Total Amount of Debt Including Interest, Late Charges and Legal Fees and Costs
  
• Acknowledging Debt and Expressing Intent to Pay
  
• Estoppel Certificates

Providing Remedies for Subsequent Default

• Notice Requirements
  
• Proceeding Ex Parte
  
• Cancelling Forgiveness and Proceeding With Foreclosure