[SPAM] RE: [WSBARP] Waiver of Deficiency in Judicial Foreclosure

Mon Aug 25 11:32:30 PDT 2014

Other issues may be:

1)      the property is ag land even though a deed of trust was used;

2)      the lender was found not to have mediated in good faith under the
DTA; 

3)      there is some other defect in the deed of trust (we have seen
situations where the lender omitted the ag land language required in the
DTA not knowing that it was required); or

4)      the borrower is a repeat defaulter - meaning that there have
multiple defaults and cures and the lender desires to require full payment
as a condition to cure.  

Jody

Jody M. McCormick	 
Principal | Witherspoon • Kelley	 
jmm at witherspoonkelley.com |
<http://www.witherspoonkelley.com/people/jody_m_mccormick.php> Attorney
Profile |  <http://www.witherspoonkelley.com/documents/jmm.vcf> vCard	 

 <http://www.witherspoonkelley.com>  	 422 W. Riverside Ave, Ste 1100
Spokane, WA 99201 
(509) 624-5265 (office)
(509) 458-2728 (fax)
witherspoonkelley.com 

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From: wsbarp-owner at lists.wsbarppt.com
[mailto:wsbarp-owner at lists.wsbarppt.com] On Behalf Of Rich Holland
Sent: Monday, August 25, 2014 10:25 AM
To: wsbarp at lists.wsbarppt.com
Subject: RE: [WSBARP] Waiver of Deficiency in Judicial Foreclosure

It frequently means that they are either concerned about:

1.        Finding the proper parties to provide notice to (unknown heirs /
no probate are usually the issue); or

2.       There is an issue with the MERS type situation about the note/DOT

In either case it is often the title company that is telling them that
they won’t insure a non-judicial foreclosure.  If a Court has ruled on it,
however, the title company usually feels better that the foreclosure will
stand challenge.

Thank you,

Rich Holland

From: wsbarp-owner at lists.wsbarppt.com
[mailto:wsbarp-owner at lists.wsbarppt.com] On Behalf Of Traci Shallbetter
Sent: Monday, August 25, 2014 10:19 AM
To: wsbarp at lists.wsbarppt.com; 'WSBA RPPT Real Property Discussion Forum'
Subject: [WSBARP] Waiver of Deficiency in Judicial Foreclosure

Bank has filed a judicial foreclosure action on a Deed of Trust that
contains a notice of sale provision.  The judicial foreclosure complaint
expressly waives any right to a deficiency.  It’s not clear to me why a
bank would judicially foreclose on a deed of trust if they are waiving a
right to a deficiency.  Any red flags/insight?

Traci Shallbetter

Shallbetter Law

The Best in Real Estate and Land Use

3201 Airport Road 

Cle Elum, WA 98922

Cell:  (509) 260-0037

 <http://www.shallbetterlaw.com> www.shallbetterlaw.com

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All opinions and comments in this message represent the views of the
author and do not necessarily have the endorsement of the Washington State
Bar Association nor its officers or agents. 

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Information provided on this list should not be considered legal advice.
As with all lists - let the reader beware! No warranties or
representations are made as to the accuracy of any information provided.
All opinions and comments in this message represent the views of the
author and do not necessarily have the endorsement of the Washington State
Bar Association nor its officers or agents. 

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