Essentials of Foreclosure (Online Seminar)

MCLE Credits: 3.0
Ethics Credits Included: 0.0

MCLE Credit: 3.0 (Ethics: 0.0)
Live-Interactive Credit: 0.0
Price: $180 (Includes a downloadable audio version.)
Viewable Through: 07/31/2022

Information

A pre-recorded streaming video replay of the July 2019 webcast, Essentials of Foreclosure.


Topics Covered

Although commonplace throughout Virginia, nonjudicial foreclosures are often misunderstood. This program will teach you everything that you need to know to understand the basics of foreclosure in Virginia, and will cover these mechanics:

  • The legal requirements for a foreclosure
  • Duties of trustees and lenders
  • Common legal challenges to foreclosures
  • The interplay with other practice areas, such as consumer protection, bankruptcy, and title
  • An answer to the eternal question: What is robosigning, really?

Our speakers, attorneys Lindsey Kelly and Leonard Tengco, run into constant queries about foreclosure from parties on all sides of the issue—mortgage lenders and servicers, borrowers in default, investors seeking to buy, local government authorities, housing assistance groups, neighbors, heirs, creditors with a claim against the property, and even a lot of curious folks who read the ads in the paper or walk by the courthouse steps while a sale is in progress. All of these parties have, use, or need lawyers, and so even an attorney who doesn’t practice in the foreclosure area benefits from knowing the fundamentals. While the economy has improved (for the moment) and loss mitigation techniques have grown more widespread, foreclosures have not and are not going to stop as long as financial institutions (and individual lenders) suffer losses that they seek to recover. Any lawyer who touches real estate law must have some basic knowledge, and any lawyer who interacts with clients who have met financial hardship should as well.

The speakers will take you through the process from referral to deed, answer any questions you might think of, and entertain you with tales of their triumphs and tribulations over their combined 20 years of enforcing deeds of trust. While America might think that foreclosure lawyers are Public Enemy No. 1, you should be among the select few to learn that really, we’re no more than loveable property law geeks who are just tasked with keeping the economy moving. Join these longtime friends, colleagues, and legal collaborators for an engaging session, and learn everything you ever wanted to know about foreclosure, but were too afraid to ask.

 
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Schedule

Faculty

ABOUT THE SPEAKERS 

Lindsey Kelly, Langley Federal Credit Union/Collections Manager and Attorney / Newport News

Lindsey Kelly spent 11 years practicing foreclosure law and all it entails, including in-depth work in presale, title claims and clearance, auctions, postsale, bankruptcy, eviction, mortgage-related litigation, and REO closings. In 2017 she departed Shapiro & Brown, LLP, to take a position in-house at Langley Federal Credit Union, where she works on collections, credit union regulatory compliance, miscellaneous litigation matters, and mortgage lending–related issues of all types, from origination through sale of credit union-owned assets. She specializes in practical problem-solving, minimizing risk, negotiation, and balancing advocacy for the lender with providing empathetic and effective service to borrowers. She graduated from Sweet Briar College in 1999 and UNC-Chapel Hill School of Law in 2002, and is barred in both Virginia and North Carolina. 

Leonard C. TengcoPesner Altmiller Melnick & DeMers PLC / Tysons

Leonard Tengco’s practice emphasizes real estate and real estate litigation, residential foreclosures, landlord/tenant, creditors' rights, collections, lien disputes, and business law. Mr. Tengco has extensive experience defending and pursuing claims on behalf of banks, credit unions, secured creditors, investors, loan servicers, trustees, property managers and landlords, title agencies, law firms, and attorneys in contested foreclosure actions and real estate disputes throughout Virginia. He formerly served as the sole law clerk for all five judges of the 3rd Judicial Circuit of Virginia, Assistant Commonwealth's Attorney for the City of Portsmouth, and Assistant Appellate Defender in Richmond before transitioning to civil litigation practice. Mr. Tengco is also one of fewer than 40 legal professionals in Virginia designated by the U.S. Green Building Council as a Leadership in Energy and Environmental Design (LEED) Accredited Professional.

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