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Foreclosure Investing Textbook

Overview

The current curriculum of graduate degree offerings in business with a concentration in real estate, real estate investing, or real estate development doesn’t offer separate program options for reviewing the foreclosure process, understanding the impact of distressed properties, approaching the homeowner during the pre-foreclosure stage, and investing in foreclosures.

Textbooks that university departments adopt tend to gloss over this subject. Similarly, real estate degree programs also tend to offer only courses in understanding the real estate process, real estate financing, appraisal techniques, development planning, and construction management.

Graduate business students who want to enter the field of investing in residential or commercial real estate foreclosures, but who do not want to complete a law degree, often have no other choice but to pursue post-graduation studies by reading commercial titles on short sale or foreclosure investing. Without formal preparation in this area of real estate and real estate investing, students enter into a business and fail within the first two years because they are not aware of changing legislation and how it affects agreements, business relationships, and protections established by Congress for the homeowner.

In addition, graduate business students also leave without knowledge of foreclosure stages, state-by-state redemption period allowances, the lender loss mitigation process, and other types of mortgage modification practices related to government foreclosures and assistance for homeowners.

Foreclosure Investing: Principles and Strategies will solve this problem for the graduate business student who chooses a business degree with a concentration in real estate investing. Foreclosure Investing will provide a theoretical foundation and will offer graduate students an opportunity to learn the business of real estate and foreclosure investing. The textbook will provide the knowledge, guidance, and tools graduate business students will need to prepare for a formal career in foreclosure investing.

Description

Foreclosure Investing: Principles and Strategies will be a comprehensive examination of the foreclosure process and will explore current legislation, past and present mortgage abuse, and modification practices. The textbook will include information about recent foreclosure modification legislation from 2007 to the present, mortgage foreclosure forms, and Bank of America and state-by-state case studies.

In addition, Foreclosure Investing will be a primary, researched-based textbook for graduate degree programs in business with an emphasis in real estate finance, real estate law, real estate investment, and real estate development. The textbook will also serve as a primary text for graduate law programs in real estate finance and/or taxation. When possible, Foreclosure Investing will serve as a secondary text for J.D. and international law programs.

Foreclosure Investing will support programs that offer the following degrees: MBA, M.S., M.S.R.E., LLM, and Ph.D.

Unique Features

Foreclosure Investing: Principles and Strategies will offer unique features.

The first unique feature of the textbook will include information derived from congressional hearings on the subprime crisis, references to national legislation and statutes that government has enacted to provide solutions for the distressed and defaulted borrower, and highlights of lender foreclosure mitigation policies from Bank of America, Countrywide, and other mortgage lending institutions.

Second, Foreclosure Investing will include additional references to MERS, the Mortgage Electronic Registration Systems, its formation and impact upon the recent foreclosure crisis. Industry professionals and homeowners view MERS as an entity that contributes to the confusion of who holds the loan on the homeowner’s property. Therefore, the textbook uses one chapter to explain MERS by outlining the company’s products and use of nominee and other transfer agreements.

The third part of the book will introduce to the reader the field of foreclosure investing and will include information explaining how investors approach the homeowner during pre-foreclosure to negotiate a short sale with the lender. Textbooks on the market gloss over this subject or don’t cover it at all.

Last, the textbook will include case studies applicable to the topic expressed within each chapter. Foreclosure Investing will include tear sheets of real estate forms and standard agreements used within the course of everyday business transactions between investors and homeowners; some chapters will also include commercial forms, depending upon the subject matter.

Publication Objective

Publishing Foreclosure Investing will close a large gap in the literature. Textbooks on the market today provide information about entrepreneurship from a general perspective.

In addition, there isn’t a comprehensive text on the market that wholly addresses government regulation of foreclosures, tax consequences concerning short sales, government assistance for homeowners, foreclosure mitigation and loan modification practices, and the economics of lending.

In other words, graduate business students who want to know about the law of foreclosure and its relationship to bankruptcy, the impact of liens against the property, the effect of foreclosure on the homeowner, and pre-foreclosure options such as mortgage modification will have to enroll in more coursework to gain a wider view of the field.

The same is true of law students, J.D. and graduate. For example, legal publishers market single-subject textbooks and students typically learn about foreclosures briefly in property and real estate law classes. Not enough coverage is given to the subject of foreclosure investing, the nature of short sales, and the impact of foreclosure mitigation in one single text.

Therefore, Foreclosure Investing:  Principles and Strategies is specifically ideal for graduate business students who want to enter the field of real estate investing without completing a law degree or additional coursework in real estate and property law. Foreclosure Investing will also appeal to both the experienced real estate investor and the attorney closing transactions.

Foreclosure Investing will close the gap in the literature, because it will formally prepare the business student for the field of foreclosure investing.

Current Status

The textbook is a working manuscript.

Our parent company, Favors Learning Center, is currently researching the topic, gathering materials, and developing an online resource blog. FLC is also reviewing and revising the textbook’s current thesis, problem statement, and references list.

Favors Writing Management is currently developing the design and content of the online blog.

The textbook is a product of Favors Learning Center, the parent company of Favors Writing Management. FLC will be the copyright holder of the physical textbook. FWM will own and manage the online content of the textbook with the same name.

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