This work presents a thorough overview of the law of real estate finance. It covers introductory matters, the mortgage market, real estate financing devices, the underlying obligation, mortgaged property, transfer of both the mortgagor's interest and the mortgagee's interest, and financing cooperatives and condominiums. It reviews the government involvement in the financing process. In addition, the volume provides an expansive review of rights and obligations after default and before foreclosure, priorities and foreclosure. It covers the tax consequences of the acquisition, owning and disposition of real estate. Legal principles and relevant caselaw are stated along with their underlying theories to enhance understanding of the law of real estate finance.