[WSBARP] Election of Remedies? Auto Loan Secured by Vehicle & Deed of Trust

[Rob Rowley]

Assume a 2010 standard Washington vehicle installment agreement which was
secured by a deed of trust and the vehicle.



In 2016 the borrower defaulted/surrendered vehicle and the lender sold the
vehicle for a deficiency of $5000.  Lender acquires a 2016 small claims
judgment which was never recorded.



Lender wants me to start foreclosure on the deed of trust for the small
claims judgment amount.



I think his remedy would be to record the small claim judgment against the
real estate and start a judicial foreclosure.



Also to calendar follow up to ensure judgment is extended in due course if
lender opts not to proceed.



What say you?





Robert R. Rowley

Attorney & Counselor At Law

p: 509.252.5074  m: 509.994.1143

f: 509.519.1406

a: 7 S Howard St, Ste 218, Spokane, WA 99201

w: rowleylegal.com  e: rob at rowleylegal.com

Google Review: https://g.page/r/CTxNMUIBtg1SEAg/review



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