[WSBAPT] Removal of name from title

Thu Feb 11 12:40:37 PST 2016

PennyMac could allow my client to "assume the Note". That is a good idea.
It puts the onus back on PennyMac to cooperate in the loan modification.
The loan is in foreclosure now and I could see making some hay at the
mediation (if we have to go that far) about PennyMac holding the very
solution to the problem that we are facing.  I like it.

I'll let you know what PennyMac says about a full assumption of the Note.

James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com
www.doranlegal.com

On Thu, Feb 11, 2016 at 12:27 PM, Jensen Mauseth <jmauseth at mausethlegal.com>
wrote:

> Jim,
>
> I think one of the big issues here is that this is a “loan modification”
> not a “refinance.” Because the underlying promissory note is being
> “modified” it needs to be signed by all of the parties to the original note
> (because you are modifying an existing contract). The only way to get that
> issue resolved is by having the promissory note in its entirety assigned to
> the individual who will be responsible under the modification or have
> PennyMac sign off on the individual assuming the entirety of the original
> promissory note. Unfortunately, the assignment requires the signature of
> the girlfriend. However, having your client “assume” the promissory note in
> its entirety does not. You should ask PennyMac about their process for
> recognizing an “assumption” of the note.
>
> Of course, if this is a “refinance” then disregard everything above
> because that is a totally different situation.
>
> Good luck.
> Jensen
> ……………………………………………………………………………………………….
> *Jensen Mauseth*
> *Mauseth Legal, PLLC*
> jmauseth at mausethlegal.com
> (p) 425.242.5111
> (f)  425.242.5114
>
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> From: <wsbapt-bounces at lists.wsbarppt.com> on behalf of Eric Nelsen <
> Eric at sayrelawoffices.com>
> Reply-To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> Date: Thursday, February 11, 2016 at 12:08 PM
> To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> Subject: Re: [WSBAPT] Removal of name from title
>
> I agree with Heather as usual. The problem sounds like she is on the title
> deed from purchase of the property. If she is only on the Note and the Deed
> of Trust, then there should be no problem with the refinance.
>
>
>
> Assuming she is on the title deed, then I think there are two options. If
> in fact the girlfriend put down zero money at any time for the property –
> no participation in down payment, no payments, nothing – then perhaps the
> client can allege a quiet title action on the basis that her name is on the
> property merely as a nominee, that she has no legal or equitable interest,
> and title should be quieted in him.
>
>
>
> But if the girlfriend put down any down payment, or provided any kind of
> consideration relating to purchase of the property, then I think she has an
> interest in the property and a partition action would be required, which
> actually would force sale rather than refinance. If that is the case,
> probably better to hire an investigator to try to find the girlfriend and
> negotiate to get a QCD.
>
>
>
> Longest route--if she has a tenant-in-common interest, then he has been
> paying her share of expenses for years. He could sue for reimbursement,
> obtain a default judgment against her, and execute the judgment against her
> real property interest to take title.
>
>
>
> Sincerely,
>
>
>
> Eric
>
>
>
> Eric C. Nelsen
>
> SAYRE LAW OFFICES, PLLC
>
> 1320 University St
>
> Seattle WA  98101-2837
>
> phone 206-625-0092
>
> fax 206-625-9040
>
>
>
>
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com [
> mailto:wsbapt-bounces at lists.wsbarppt.com
> <wsbapt-bounces at lists.wsbarppt.com>] *On Behalf Of *Heather deVrieze
> *Sent:* Thursday, February 11, 2016 11:18 AM
> *To:* WSBA Probate & Trust Listserv
> *Subject:* Re: [WSBAPT] Removal of name from title
>
>
>
> Despite your statement of that facts, that girlfriend is on Promissory
> Note and Deed of Trust, it sounds as though she is actually on title. If
> she is on title, a quiet title (or finding her) is your option. If she is,
> however, only on the Note and DOT, a refinance will not require her
> signature or any Court action.
>
>
>
> Heather
>
>
>
>
>
> Heather S. de Vrieze
> *Attorney-at-Law*
>
> *[image: cid:image001.jpg at 01D013C2.30F35160]*
>
> 3909 California Avenue SW
>
> Seattle, WA 98116-3705
>
> (206)938-5500
>
> heatherd at westseattlelaw.com
>
> www.westseattlelaw.com
>
>
>
> *Click here to connect with de Vrieze | Carney on Facebook: *  *[image:
> FB Logo]* <https://www.facebook.com/DeVriezeCarney>
>
>
>
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>
> *From:*wsbapt-bounces at lists.wsbarppt.com [
> mailto:wsbapt-bounces at lists.wsbarppt.com
> <wsbapt-bounces at lists.wsbarppt.com>] *On Behalf Of *Jim Doran
> *Sent:* Thursday, February 11, 2016 10:34 AM
> *To:* Real Property Section <wsbapt at lists.wsbarppt.com>
> *Subject:* [WSBAPT] Removal of name from title
>
>
>
> My client had a girlfriend whose name was put on the Deed of Trust and
> Promissory Note as an individual and unmarried person in 2005.  The
> girlfriend never paid anything on the Note and moved to England in 2009.
> My client is in the process of modifying his loan with PennyMac, Inc.  In
> order to complete the modification we have to have the girlfriend sign off
> or get her name removed from the documents by some sort of Quit Claim Deed
> or Court order.
>
> The problem is that we cannot find the girlfriend.
>
> What is the action that I bring to remove her name from the title?  Is it
> a quiet title action just as to her?  Is there any other way that I should
> consider? I presume I could get service by publication.
>
> Any suggestions on how to do this would be very much appreciated.
>
> Thank you.
>
>
> James R. Doran
>
> Attorney at Law
>
> 100 E. Pine Street -  Suite 205
>
> Bellingham, WA 98225
> (360)393-9506
>
> jim at doranlegal.com
>
> www.doranlegal.com
>
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