[WSBARP] Estate Property in Foreclosure

[Joseph McIntosh]

Is there a mechanism for heirs to contribute funds to the probate for preservation of assets.   Can the PR borrower to preserve, like a receiver.  I don’t know.

If there is significant equity in the real estate, I wouldn’t leave it to the good will of others.  I’d have a plan for guaranteed preservation of the asset.

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Joseph McIntosh
Sent: Saturday, January 14, 2023 7:33 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Estate Property in Foreclosure

How invested is the heir(s) in the real property, and saving equity?  PR deed to the heir with the mortgage still intact, heir can reinstate with their own funds, or, apply for a loan assumption and obtain an enforcement delay that route, maybe.   They could recoup their personal advance with the eventual life insurance payout.

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 Kary Krismer
Sent: Saturday, January 14, 2023 5:59 AM
To: wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Estate Property in Foreclosure


I gave similar advice privately, but with the added advice that you need them to document or at least acknowledge in writing what they will be doing (or more precisely not doing).  Never trust a trustee absent their putting their position in writing.

Kary L. Krismer

206 723-2148
On 1/13/2023 3:29 PM, Rich Holland wrote:
I agree with this.  Call the trustee.  As a very very last ditch negotiation point, you could offer a DiL effective in 90 or 120 days or something.  It's a big axe hanging over the property but in the right situation it might be worth considering.  All depends on how much time the PR really needs.

Rich on his phone
________________________________
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 Kelby Derenick <kelby at derenicklaw.com><mailto:kelby at derenicklaw.com>
Sent: Friday, January 13, 2023 3:14:58 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com><mailto:wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Estate Property in Foreclosure

Try calling the trustee and see if they will just continue the sale date.  This has worked for me in the past.  Then put it on the market asap.  I have restrained sales in the past but it has to be for a narrow set of reasons within RCW 61.24 et seq.  Maybe the trustee did not follow the correct procedures with the notice of sale.  One time I restrained a sale because the trustee failed to have an office in the state.  Another time the amount owed in the notice of sale was incorrect by a significant amount.  It is rare to have a legitimate reason but usually the trustee will at least continue it once.

Kelby J. Derenick
Attorney

10018 Greenwood Ave. N
Seattle, WA 98133
Ph. (206) 659-5061

14 E. Main Street, Suite 207
Walla Walla, WA 99362
Ph: (509) 676-9805

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On Fri, Jan 13, 2023 at 11:10 AM Haylee Hurst <haylee at bellinghamlegal.com<mailto:haylee at bellinghamlegal.com>> wrote:
PC is the PR of an estate and the real property is apparently in foreclosure for failure to pay the mortgage while the PR is trying to secure life insurance proceeds. It looks like this is late in the game and a sale is already scheduled for the end of March. PC needs to delay the sale until the estate can either pay off the mortgage or sell the property, but, looking at the statute it appears the sale can't be enjoined unless the estate pays the amounts due under the mortgage into the court registry, which seems to defeat the point. Thoughts? I'm happy to pass on any referrals if this is in someone's wheelhouse. Property is in Whatcom County.

--
Haylee Hurst
Wolf Lee Hurst & Slattery, PLLP
(p) (360) 676-0306 ext. 1002
(d) (360) 602-3826
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