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The Week Ahead: Focus on Vacant Property Law

property inspectionThe Legal League 100 will present a webinar focusing on the developments in vacant and abandoned property law on Wednesday, November 28 from 2-3 p.m. CST. The complimentary webinar is part of Legal League 100’s webinar series that brings leading experts of the mortgage servicing industry to give insights on the latest topics that are impacting the financial services industry and the housing market.

During this informative hour-long webinar, Stephen M. Hladik, Partner, Hladik, Onorato & Federman LLP will provide the audience with an overview of vacant and abandoned property state statutes in effect, states with legislation pending, and what a model definition of “vacant” or “abandoned” property should be on a national level. He will examine the negative effects that vacant or abandoned properties have in cities, communities, and neighborhoods.  Hladik will also discuss what constitutes “vacant” or “abandoned” properties since this can vary widely throughout the country.  "We will analyze various vacant or abandoned property foreclosure statutes throughout the country and how these seek to streamline the process or make it more efficient for lenders or servicers to take back those properties," Hladik said.  "We will also focus on the new process adopted in Pennsylvania that will go into effect in December.  Finally, we will raise other the legal issues surrounding vacant properties that can come into play."

The regulations related to vacant and abandoned properties is an important topic nationally. "While the number of total foreclosures nationwide may be declining, there is still a major issue facing lenders, servicers, cities, and municipalities in how to deal with the problems created by vacant or abandoned properties," Hladik said. "The risk of loss on these types of properties is obviously much higher than an occupied property, and lenders or servicers need new and innovative tools to be able to minimize the risk by shortening foreclosure time frames wherever possible."

Click here to register for this webinar.

Here’s what else is in store in the week ahead:

  • S&P CoreLogic Case Shiller HPI, Tuesday, 9 a.m. EST
  • FHFA Home Price Index, Tuesday, 9 a.m. EST
  • MBA Mortgage Apps, Wednesday, 7 a.m. EST
  • Census Bureau New Home Sales, Wednesday, 10 a.m. EST
  • Pending Home Sales Index, Thursday, 10 a.m. EST

About Author: Radhika Ojha

Radhika Ojha, Online Editor at the Five Star Institute, is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Dallas, Texas. She can be reached at Radhika.Ojha@DSNews.com.
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