Barry A. Chatz speaks at real estate foreclosure workshop
Arnstein & Lehr Chicago Partner Barry A. Chatz presented at the National Business Institute’s “Real Estate Foreclosure: A Step-by-Step Workshop” on January 13. He lead a discussion on the tax consequences of foreclosure. Mr. Chatz’s presentation included a review of the IRS reporting requirements for lender losses, the treatment of debt, the Mortgage Forgiveness Debt Relief Act, and the relief for investor owners of residential and commercial property. The workshop was geared for attorneys, mortgage brokers, in-house counsel and loan officers. Other topics covered during the full-day workshop included a case law update, alternatives to foreclosure, how bankruptcy changes the landscape and ethics in foreclosure. It was held at the Hyatt Lisle. Six hours of CLE credit has been approved by the Illinois MCLE board, including one hour of legal ethics CLE.