[WSBARP] Foreclosure Question

[Kary Krismer]

3 should not count on the sales price being anywhere near FMV. The 
second may bid in its debt and that might be it.

Kary L. Krismer
206 723-2148

On 11/5/2021 10:24 AM, James W. Spencer wrote:
>
> Greetings All:
>
> Since I (almost) exclusively work on the T&E side of things, I have a 
> question for you dirt attorneys about what, practically, happens at 
> foreclosure for the various property creditors.
>
> In the case at hand, there are three deeds of trust against the real 
> property. Significant equity, so paying off all three should be no 
> problem. The second DOT holder is initiating foreclosure. Do DOT 
> holders 1 and 3 need to do anything? Is there something like escrow at 
> a Trustee’s sale that will ensure that all three promissory notes are 
> satisfied?
>
> Your insights are appreciated. DOT holder 3 may need legal assistance 
> if that is the best advice, so referrals (including self) are also 
> appreciated.
>
> Thank you,
>
> James
>
> James W. Spencer
>
> Attorney at Law
>
> Brothers & Henderson, P.S.
>
> 2722 Eastlake Avenue East, Suite 200
>
> Seattle, Washington 98102
>
> Phone: (206) 324-4300 x106
>
> Fax: (206) 324-3106
>
> e-mail: jamess at brothershenderson.com <mailto:jamess at brothershenderson.com>
>
> www.brothershenderson.com <http://www.brothershenderson.com/>
>
> pronouns: he/him
>
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