[WSBARP] SOL Calculation for Foreclosure Action

[Michael Safren]

Hi Oscar,

 

In my experience the SOL is calculated starting from the missed payment date on the note/debt.  The SOL is tolled by either filing the complaint on a judicial foreclosure or by filing the Notice of Trustee sale on a non-judicial foreclosure.   

 

Please also note that even if the foreclosure is initiated or tolled after the SOL has run, many states including Washington apply the doctrine of continuous default, which counts each missed payment as a separate cause of action.  Thus even if several missed payments may fall outside the SOL, the default and missed payments within the SOL will serve as the basis for a cause of action and can be recoverable by a creditor.

 

If you have any further questions, don’t hesitate to send me an email.  

 

Kind regards,

Michael Safren

msafren at gmail.com  

 

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Oscar Yang, Esq.
Sent: Tuesday, May 26, 2015 12:31 PM
To: WSBA Real Property Listserv
Subject: [WSBARP] SOL Calculation for Foreclosure Action

 

Dear Listmates:

 

I know in another state, there were some debates on when the SOL should start running for foreclosure actions (for example,  among the last payment date by the borrower, the acceleration payment date, the first date to fail to make a full monthly payment, etc).   What date does WA use to calculate the SOL of a foreclosure action?  Many foreclosure actions that I have seen are well within the SOL period, but I still want to calculate it correctly.  I apologize if this question sounds too basic.

 

Kind regards,

Oscar Yang

Managing Attorney

ES BERRY LAW PC 

 

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