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Real Estate Litigation in Illinois: Short Sales, Abandoned Property, and More

(57 reviews)

Produced on April 12, 2019

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Course Information

Time 61 minutes
Difficulty Intermediate
Categories Real Estate

Course Description

The real estate market goes through cycles of increased valuation and depression based on changes in the economy, changes in population, and increased costs associated with owning property (such as real estate taxes, tax write-offs for interest, etc...). 2016 through 2018 were years of growth and increase in property values. With higher taxes pushing property values down, lower inventory pushing values up and potential first-time home buyers being too debt-ridden to make purchases until considerably later in their lives, will we see a cycle of a downturn in the Real Estate Market soon?And if so, what will it take to get properties through short sales? What litigation may it engender? This course, presented by Erica Crohn Minchella, will explore the short sale process and litigation unique to Illinois real estate.


Learning Objectives:

  1. Explore the short sale process and be able to discern when a property needs to go through a short sale
  2. Identify potential litigation issues for real estate transactions
  3. Discuss how to address issues needed to clear title or assist clients struggling with their property
  4. Obtain constructive ideas for dealing with properties where lenders have abandoned the property to the homeowner in order to avoid municipal fines and liabilities

Credit Information

After completing this course, Lawline will report your attendance information to {{ accredMasterState.state.name }}. Please ensure your license number is filled out in your profile to ensure timely reporting. For more information, see our {{ accredMasterState.state.name }} CLE Requirements page . After completing this course, {{ accredMasterState.state.name }} attorneys self-report their attendance and CLE compliance. For more information on how to report your CLE courses, see our {{ accredMasterState.state.name }} CLE Requirements FAQ .

Faculty

Erica Crohn Minchella

Erica Crohn Minchella, Attorney at Law

Erica is a graduate of Loyola University School of Law and has practiced law for 35 years, of which 33 have been in some form of her own firm. Jokingly referring to herself as a “distress real estate lawyer”, Erica concentrates her time, talents and passion on assisting clients to be well-informed about their real estate decisions, whether they are buying a home or an investment, as well as helping them get out of debt and to build a solid financial future. Her field of expertise includes the spectrum of conventional and distressed real property issues, foreclosure defense, short sale transactions, and counseling her clients in re-establishing their credit and becoming debt free and mortgage free.

She also advises investors in need of exit strategies for real estate deals gone sour as well as those who see the current market as a great place to invest, as well as home buyers who are purchasing conventional and distressed real estate. For five years in a row, Erica has been named a Leading Lawyer by the Leading Lawyers Network and has been named a Super Lawyer for 2017. The extent of her mentoring younger attorneys in her areas of concentration as well as marketing and law office management has been acknowledged in the Kathryn Barisa Rinella Mentoring Award, given to her by the Justinian Society of Lawyers. 

Erica serves on the Boards of the Association of Foreclosure Defense Attorneys (Founder and President), and Illinois Real Estate Lawyers Association and is a Commissioner on the Village of Skokie Economic Development Commission. Currently, Erica is the 2016-17 Chair of the Illinois State Bar Association Real Estate Law Section Council. She is regularly invited to be on the faculty of continuing legal education programs on real estate issues. Her business and professional association memberships include the Justinian Society of Lawyers, Small Business Advocacy Council, Women’s Council of Realtors, Women’s Bar Association and the Skokie Chamber of Commerce. She has maintained her Real Estate License for over 25 years. The mother of two grown children, she has been married for over 32 years to her husband, Jim.



Reviews

DD
David D.

Presented in a coherent and logical manner. Speaker is well informed and succeeds in explaining the relevant issues.

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