[WSBARP] Deed of Trust Foreclosure - Foreclosure Loss Mitigation Form

[Jeff at bellanddavispllc.com]

John,

 

I agree with you, especially when you look at (8)(b) defining
"Seller-financed sale."  I guess then in the Foreclosure Loss Mitigation
Form, I just add under the "Additional Optional Explanatory Comments" that
the section does not apply because it is a seller-financed sale.

 

Jeff

 

W. Jeff Davis

BELL & DAVIS PLLC
P.O. Box 510

720 E. Washington Street, Suite 105
Sequim WA 98382
Phone: (360) 683.1129 
Fax: (360) 683.1258 
email: jeff at bellanddavispllc.com <mailto:jeff at bellanddavispllc.com> 
 <http://www.bellanddavispllc.com/> www.bellanddavispllc.com
 
The information contained in this e-mail message may be privileged,
confidential, and protected from disclosure. If you are not the intended
recipient, any dissemination, distribution, or copying is strictly
prohibited. If you think that you have received this e-mail message in
error, please e-mail the sender at  <mailto:info at bellanddavispllc.com>
info at bellanddavispllc.com  or call 360.683.1129.

 

 

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com>
On Behalf Of John McCrady
Sent: Thursday, April 7, 2022 9:13 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Deed of Trust Foreclosure - Foreclosure Loss
Mitigation Form

 

I have always interpreted this section as not applying to your situation.  

 

(7)(a) This section applies only to deeds of trust that are recorded against
residential real property of up to four units. This section does not apply
to deeds of trust: (i) Securing a commercial loan; (ii) securing obligations
of a grantor who is not the borrower or a guarantor; or (iii) securing a
purchaser's obligations under a seller-financed sale.

 

If I am wrong I would love to be corrected.

 

John McCrady

Counsel

Puget Sound Title Company

5350 Orchard Street West

University Place WA 98467

253-476-5721

j.mccrady at pstitle.com <mailto:j.mccrady at pstitle.com> 

 

 

 

Beginning July 26, 2021, recording fees for most documents recorded in
Washington will increase by $100
<https://www.piercecountywa.gov/DocumentCenter/View/105275/Recording-Fee-Sch
edule-Effective-Jul-25-2021-> . Please be sure to collect recording fees
accordingly. Due to the above increase, our Reconveyance fees will also be
increased by $100.00

 

WARNING-FRAUDULENT FUNDING INSTRUCTIONS 

Email hacking and fraud are on the rise to fraudulently misdirect funds.
Please call your escrow officer immediately using contact information found
from an independent source, such as the sales contract or internet, to
verify any funding instructions received.  We are not responsible for any
wire sent by you to an incorrect bank account.

 

 

From: wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com>
<wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com> > On Behalf Of
Jeff at bellanddavispllc.com <mailto:Jeff at bellanddavispllc.com> 
Sent: Thursday, April 07, 2022 8:55 AM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com
<mailto:wsbarp at lists.wsbarppt.com> >
Subject: [WSBARP] Deed of Trust Foreclosure - Foreclosure Loss Mitigation
Form

 

Listmates:

 

Clients want to foreclose on two vacant, housing lots, subject to their
"seller" financing deed of trust.  In the past, we could check  boxes saying
that RCW 61.24.031 notice did not apply as it was seller financing or that
it was not owner occupied.   In looking at the current version of RCW
61.24.031, that was amended in 2021, none of those options appear.  So do
all the protections applicable to owner occupied primary residence now apply
to vacant lots under seller financing?

 

Jeff

 

W. Jeff Davis

BELL & DAVIS PLLC
P.O. Box 510

720 E. Washington Street, Suite 105
Sequim WA 98382
Phone: (360) 683.1129 
Fax: (360) 683.1258 
email: jeff at bellanddavispllc.com <mailto:jeff at bellanddavispllc.com> 
 
<https://f.xdref.com/?id=237G2kVu051478&from=wsbarp-bounces@lists.wsbarppt.c
om&to=j.mccrady at pstitle.com&url=http://www.bellanddavispllc.com/>
www.bellanddavispllc.com
 
The information contained in this e-mail message may be privileged,
confidential, and protected from disclosure. If you are not the intended
recipient, any dissemination, distribution, or copying is strictly
prohibited. If you think that you have received this e-mail message in
error, please e-mail the sender at  <mailto:info at bellanddavispllc.com>
info at bellanddavispllc.com  or call 360.683.1129.

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20220407/e5d4a15b/attachment.html>