[WSBARP] Foreclosure question

[Marcus Fry]

Bryce:

I have always taken the “no” position you either accept and discontinue or
reject and continue.  If I choose to continue, I usually place the funds
in trust and send out an immediate letter advising the debtor that the
funds will be refunded upon request as they are insufficient to satisfy
the debt obligation.  Unlike the REC statute, there is nothing in the DOT
foreclosure statute that allows a partial satisfaction of the default and
allows the creditor to keep the funds and continue foreclosure.  What I
would recommend is to redirect the payments to satisfy the taxes.  And
then restart the foreclosure for missed payments.  This way you don’t have
to worry about county tax foreclosure (you can actually be 3 years behind
with the county before foreclosure starts).  

 

Marcus J. Fry

Lyon, Weigand & Gustafson, P.S. 
Adoption Attorney*

P.O. Box 1689 
Yakima, Washington  98907 
Telephone:  (509) 248-7220 
Facsimile:  (509) 575-1883 

 

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From: wsbarp-owner at lists.wsbarppt.com
[mailto:wsbarp-owner at lists.wsbarppt.com] On Behalf Of Bryce Dille
Sent: Monday, July 28, 2014 12:00 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Foreclosure question

 

If default in deed of trust non judicial foreclosure is failure to pay
real estate taxes which are 4 years delinquent can secured party continue
on with foreclosure process and continue to accept monthly payments.
Thanks

 

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Bryce H. Dille 

Campbell, Dille, Barnett & Smith,  PLLC

P.O. Box 488

Puyallup, WA  98371

Voice:  253.848.3513

Fax: 253.845.4941

bryced at cdb-law.com

 

Business Entity Creation and Management

Business, Government and Tax Law

Real Estate and Land Use, Residential, Commercial and Condominium
Development

Real Estate and Commercial Transactions & Closings, Including Performing
Services as IRS Section 1031 Exchange Facilitator

Estate and Trust Planning & Administration, Including Planning for
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Representation Homeowners/Condominium Association Real Estate Developments

Real Property Foreclosures and Forfeitures

 

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