[WSBARP] Extension of Note and Deed of Trust

[Law Office of Shaun Watchie Perry]

Hi Nestor, I am always a little nervous about just doing the note 
extension. I do a boot and suspenders approach which I learned as a 
lender's counsel years ago.  I always do a modification of deed of trust 
together with the note modification agreement, record the deed of trust 
modification and obtain an endorsement  from the title company. It is a 
small price to pay to make sure your client does not have to worry about 
someone leap frogging ahead of him in priority and lets. Just my 2 cents.

Thanks, Shaun

*/Ms. Shaun Watchie Perry | Attorney at Law
Law Office of Shaun Watchie Perry
1325 Fourth Avenue, Suite 940 | Seattle, WA 98101
Tel +206.729.7442 | Fax + 206.260.1411 | www.swp-law.com/*

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On 12/23/2020 8:28 AM, Craig Sjostrom wrote:
>
> If the DOT secures the note and extensions (they usually do), then 
> just do an extension agreement on the note and leave the DOT alone. 
> Not only do you save the recording, but you keep the priority of the 
> original DOT.
>
> Craig
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> > Law Office of Craig Sjostrom, 1204 Cleveland Ave., Mount Vernon, WA 98273  Phone 
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> *From:* wsbarp-bounces at lists.wsbarppt.com 
> <wsbarp-bounces at lists.wsbarppt.com> *On Behalf Of *nestor at pplsweb.com
> *Sent:* Wednesday, December 23, 2020 8:17 AM
> *To:* 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com>
> *Subject:* [WSBARP] Extension of Note and Deed of Trust
>
> Client has a note and DT that expires and is allowing an extension. 
> The note and deed of trust on its face says due date of 1/1/21. Is it 
> best to do a new renewal note and a new Renewal Deed of Trust and 
> record the same?
>
> Client wants to save the $$ and not record a renewal DT.
>
> Nestor Gorfinkel, Attorney at Law
>
> Licensed in Florida & Washington
>
> Florida Civil-Law (International) Notary
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