[WSBARP] Residential Purchase/Construction: Deed of Trust- Nonrecourse vs. Recourse

[Oscar Yang Esq.]

Thank you for sharing info, Rich and Nicholas! 
  
As a practical matter, how frequently do you guys see the first lenders
judicially foreclosing their deeds of trust/promisory notes in WA,
especially for residential properties priced no more than $1M?  My friend
who worked at a bank many years says that she saw very few judicial
foreclosures there, but would like to hear from other attorneys.  With
extra cost/time and a possibility of 6 month+ abandonment, I wonder how
much a borrower should worry about the first lender's judicial foreclosure
calling for a deficiency judgment in absence of unusual circumstances. 
  
It's great to learn about the case of Beal Bank to support a second
lender's pursuit after non-judicial sale.  
  
Thank you again for your time, 
Oscar Yang, Esq. (WA/NY) 
Es Berry Law PC 
2155 112th Ave NE 
Bellevue, WA 98004 

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