[WSBARP] "Lost mortgage" analysis

[Gregory L. Ursich]

Recent court of appeals decision on this issue, can’t recall the cite or name right now, but decided in last 3 months. If Loan HAS NOT BEEN ACCELERATED, then the SOL has not run because you count 6 years from each payment due. They can still start a new foreclosure. If the original note is truly lost, that is another issue. -Greg Ursich, Inslee Best

Sent from my iPhone

On Sep 16, 2019, at 8:17 AM, Craig Blackmon <craig at lawofficeofcraigblackmon.com<mailto:craig at lawofficeofcraigblackmon.com>> wrote:

'Mates, I just picked up a "lost mortgage" case and could use a little input to make sure I am on the right track.

Facts: Loan in 2006, default in 2008. NOD and NOTS served and filed in 2009, with sale then discontinued in 2010.. and nothing since. But lender (apparently) continues to pay property taxes.

My analysis: Client no longer liable on Note due to 6 year SOL. But under the DOT, client remains liable (by way of lien) for last six years of missed payments, plus outstanding principal.

Can anyone lend a hand? If I am way off base, perhaps a call?

Thank you, thank you, thank you...

Craig
Craig Blackmon, Attorney at Law
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