[WSBAPT] Foreclosure - Heirs unable to pay mortgage and home is on the market

[Rich Holland]

Sometimes when negotiating with a bank, it can help to, for example, agree to a deed in lieu of foreclosure if the home isn't under contract by oh 9 months from now or something as a last resort.  The FC process is going to get them a property after a very long wait, considering they will almost certainly foreclose judicially.  That's the strongest leverage to me but there is can be a hefty downside if the property doesn't sell.

Sincerely,

Richard L. Holland
Attorney, WSBA# 23921

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of michael westseattleattorney.com
Sent: Friday, October 29, 2021 12:53 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Foreclosure - Heirs unable to pay mortgage and home is on the market

Thanks I will ask

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________________________________
From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> on behalf of Jim Doran <jim at doranlegal.com<mailto:jim at doranlegal.com>>
Sent: Friday, October 29, 2021 12:36 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Re: [WSBAPT] Foreclosure - Heirs unable to pay mortgage and home is on the market

Can yo8ur clients begin a loan application process?  That will delay everything for 6 months or more.  Depending on the details you can usually delay a foreclosure by one of the Big Five for several years by playing their games.  I did it for about ten years for clients.  If someone needs my help, let me know.

Jim Doran

James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com<mailto:jim at doranlegal.com>
www.doranlegal.com<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.doranlegal.com&d=DwMFAw&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=hDHe9lm5VBA9VXO3e3szRw&m=w-IFDvwcKlzoSbl1Xa7MmzTdVIofgf-AMu0yL-O69BA&s=AuPyh3L_1ZFdVBy4hdDIDFDl4p2ASH2TswdHBzygdGI&e=>


On Fri, Oct 29, 2021 at 12:29 PM michael westseattleattorney.com<https://urldefense.proofpoint.com/v2/url?u=http-3A__westseattleattorney.com&d=DwMFAw&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=hDHe9lm5VBA9VXO3e3szRw&m=w-IFDvwcKlzoSbl1Xa7MmzTdVIofgf-AMu0yL-O69BA&s=UXKiBo-4Nt-TyeBxMA6LCk_90gfTC1NNcPr5VFxD1_4&e=> <michael at westseattleattorney.com<mailto:michael at westseattleattorney.com>> wrote:
repost - this is in Seattle

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________________________________
From: michael westseattleattorney.com<https://urldefense.proofpoint.com/v2/url?u=http-3A__westseattleattorney.com&d=DwMFAw&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=hDHe9lm5VBA9VXO3e3szRw&m=w-IFDvwcKlzoSbl1Xa7MmzTdVIofgf-AMu0yL-O69BA&s=UXKiBo-4Nt-TyeBxMA6LCk_90gfTC1NNcPr5VFxD1_4&e=> <michael at westseattleattorney.com<mailto:michael at westseattleattorney.com>>
Sent: Friday, October 29, 2021 11:54 AM
To: WSBA Probate & Trust Listserve <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Foreclosure - Heirs unable to pay mortgage and home is on the market

Is there any current moratorium on foreclosures ? Thanks Mike

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