[WSBAPT] Sheriff's Deed

Thu Mar 1 10:54:46 PST 2018

I would hire someone to do that.  Any suggestions?

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, Mar 1, 2018 at 10:48 AM, Eric Nelsen <Eric at sayrelawoffices.com>
wrote:

> I agree, and I'm just glad that I haven't had to labor over creating an
> Excel spreadsheet to actually do the calculations in a case (yet). Knock on
> wood.
>
>
>
> Sincerely,
>
>
>
> Eric
>
>
>
> Eric C. Nelsen
>
> SAYRE LAW OFFICES, PLLC
>
> 1417 31st Ave South
>
> Seattle WA  98144-3909
>
> phone 206-625-0092 <(206)%20625-0092>
>
> fax 206-625-9040 <(206)%20625-9040>
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.
> wsbarppt.com] *On Behalf Of *nestor at pplsweb.com
> *Sent:* Thursday, March 01, 2018 10:35 AM
> *To:* 'WSBA Probate & Trust Listserv'
> *Subject:* Re: [WSBAPT] Sheriff's Deed
>
>
>
> Eric, I was thinking along the same line that the note will dictate and
> based upon the nature of the payment due under what should be barred.
>
>
>
> My guess is that it is probably a standard FNMA note if it’s residential
> property, and I would argue that the P & I that was due prior to the
> limitations period are barred.
>
>
>
> Jim, let us know how its’ resolved.
>
>
>
> Nestor Gorfinkel, Attorney at Law
>
> Licensed in Washington & Florida
>
> Florida Civil-Law (International) Notary
>
>
>
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>
> *From:* wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.
> wsbarppt.com> *On Behalf Of *Eric Nelsen
> *Sent:* Thursday, March 1, 2018 9:52 AM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* Re: [WSBAPT] Sheriff's Deed
>
>
>
> Nestor--I'll jump in here just to note that I have the same question you
> do: how to calculate what is barred and what isn't. I have yet to actually
> have to argue for something in court because my cases have always settled
> for an agreed amount.
>
>
>
> For what it's worth, I think the terms of the Note dictate what is barred
> and what isn't, based on the amortization schedule for the payments. So if
> it's an interest-only installment payment, only interest is barred. If the
> principal is amortized, then I think you calculate what total of principal
> should have been paid prior to the bar date based on the mandatory minimum
> payment amounts, and bar that portion of the principal in addition to all
> interest prior to the bar date.
>
>
>
> It gets trickier if some payments were made, because I think you'd have to
> adjust the actual principal balance based on actual payments, which will
> alter the allocation of interest and principal that would have been applied
> for the missed payments. So you can't just run a simple amortization
> calculator online; it requires something more customized.
>
>
>
> And it gets even trickier if interest was compounding in the Note.
> Fortunately I haven't seen one of those yet.
>
>
>
> Sincerely,
>
>
>
> Eric
>
>
>
> Eric C. Nelsen
>
> SAYRE LAW OFFICES, PLLC
>
> 1417 31st Ave South
>
> Seattle WA  98144-3909
>
> phone 206-625-0092 <(206)%20625-0092>
>
> fax 206-625-9040 <(206)%20625-9040>
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.
> wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>] *On Behalf Of *
> nestor at pplsweb.com
> *Sent:* Thursday, March 01, 2018 6:05 AM
> *To:* 'WSBA Probate & Trust Listserv'
> *Subject:* Re: [WSBAPT] Sheriff's Deed
>
>
>
> I wish I had something more for you. However, the question is (and my
> apologies for not having an answer) how are the payments time barred?  Do
> you run an amortization schedule and cut off interest and principal going
> back the S/L period?
>
>
>
> Your best bet may be to file a declaratory action under RCW 7.24 to
> determine how much your client would have to pay the bank.
>
>
>
> Nestor Gorfinkel, Attorney at Law
>
> Licensed in Washington & Florida
>
> Florida Civil-Law (International) Notary
>
>
>
> *ATTENTION - This e-mail message and any attachment to this e-mail message
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>
>
>
> *P* *Please consider the environment before printing this e-mail.*
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.
> wsbarppt.com> *On Behalf Of *Jim Doran
> *Sent:* Wednesday, February 28, 2018 8:48 PM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* Re: [WSBAPT] Sheriff's Deed
>
>
>
> I get it.
>
>
> James R. Doran
>
> Attorney at Law
>
> 100 E. Pine Street -  Suite 205
>
> Bellingham, WA 98225
> (360)393-9506 <(360)%20393-9506>
>
> jim at doranlegal.com
>
> www.doranlegal.com
>
>
>
> On Wed, Feb 28, 2018 at 8:28 PM, <nestor at pplsweb.com> wrote:
>
> How can it be “adverse” since he is the record owner?
>
>
>
> Nestor Gorfinkel, Attorney at Law
>
> Licensed in Washington & Florida
>
> Florida Civil-Law (International) Notary
>
>
>
> *ATTENTION - This e-mail message and any attachment to this e-mail message
> may contain confidential information that is legally privileged. If you are
> not the intended recipient, you must not review, retransmit, convert to
> hard copy, copy, use or disseminate this e-mail or any attachments to it.
> If you have received this e-mail in error, please notify us immediately by
> return e-mail or by telephone at the phone numbers provided herein and
> delete this message. Please note that if this e-mail message contains a
> forwarded message or is a reply to a prior message, some or all of the
> contents of this message or any attachments may not have been produced by
> the sender.*
>
>
>
> *P* *Please consider the environment before printing this e-mail.*
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.
> wsbarppt.com> *On Behalf Of *Jim Doran
> *Sent:* Wednesday, February 28, 2018 4:44 PM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* Re: [WSBAPT] Sheriff's Deed
>
>
>
> Yes.  Thank you.  I am aware of this.  If the note has not been
> accelerated it may be possible that at least some of the installments are
> time barred.  Just a calculation headache.
>
>
>
> I am thinking about the adverse possession angle.  Open, notorious, with a
> claim of right....etc.  Paid taxes.  More than ten years.  He hasn't paid
> on the note and he has occupied the premises.  That sounds like legal
> adversity.
>
>
>
> Any thoughts?
>
>
>
> Jim
>
>
>
>
> James R. Doran
>
> Attorney at Law
>
> 100 E. Pine Street -  Suite 205
>
> Bellingham, WA 98225
> (360)393-9506 <(360)%20393-9506>
>
> jim at doranlegal.com
>
> www.doranlegal.com
>
>
>
> On Wed, Feb 28, 2018 at 2:42 PM, Doug Owens <dougowens at seattlerelawyer.com>
> wrote:
>
> Dear Jim, RCW 7.28.300 provides some relief but it is very fact
> dependent.  If the loan was in default eight years ago, and especially if
> Citi accelerated the loan at that time, then this statute might help.
> Yours truly, Doug Owens
>
>
>
> On Feb 28, 2018, at 12:08 PM, Jim Doran <jim at doranlegal.com> wrote:
>
>
>
> Hello Listies:
>
>
>
> A client purchased a property at the Sheriff's Sale for condo fees, etc.
> in 2007.  My client tried many times to reach a deal with the underlying
> Deed of Trust and Note holder, CitiMortgage, but was never responded to.
> That was nine and eight years ago.  Two and a half years ago I tried to
> work out a deal with CitiMortgage that never came to any fruition.  The
> lights are on but no one is home.  The underlying Deed of Trust and Note
> holder, CitiMortgage, is now non-judicially foreclosing on the underlying
> debt.
>
>
>
> It is my understanding that the Sheriff's Deed is subordinate to the
> original Deed of Trust and Note.  In order to protect his interest, my
> client needs to purchase the property at the Trustee's Sale, correct?  Or
> make a deal with CitiMortgage before the Trustee's Sale.
>
>
>
> However, because my client diligently tried to resolve this many years ago
> he wants me to see if the statute of limitations, or any other defense, can
> strip the underlying debt held by CitiMortgage away from the property.
>  Does adverse possession work?  Laches and estoppel and other equitable
> remedies my be useful.  Any other ideas?
>
>
>
> If there is a good defense, we would file for a restraining order against
> the Trustee Sale.
>
>
>
> Thank you in advance.
>
>
>
> James Doran
>
>
> James R. Doran
>
> Attorney at Law
>
> 100 E. Pine Street -  Suite 205
>
> Bellingham, WA 98225
> (360)393-9506 <(360)%20393-9506>
>
> jim at doranlegal.com
>
> www.doranlegal.com
>
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