<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto"><div>Read 60-01/Parsons and BAC/Fulbright. Those two cases cover the different scenarios. <br><br>Scott Osborne<div><a href="mailto:scotto@foster.com">scotto@foster.com</a></div><div><a href="mailto:scott.osborne2@gmail.com">scott.osborne2@gmail.com</a><br><div><br></div><div>Sent from my iPhone</div></div></div><div><br>On May 1, 2015, at 10:48 AM, Pete Middlebrooks <<a href="mailto:pete@jcmiddlebrooks.com">pete@jcmiddlebrooks.com</a>> wrote:<br><br></div><blockquote type="cite"><div>
<meta http-equiv="Content-Type" content="text/html; charset=us-ascii">
<meta name="Generator" content="Microsoft Word 14 (filtered medium)">
<!--[if !mso]><style>v\:* {behavior:url(#default#VML);}
o\:* {behavior:url(#default#VML);}
w\:* {behavior:url(#default#VML);}
.shape {behavior:url(#default#VML);}
</style><![endif]--><style><!--
/* Font Definitions */
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:#0563C1;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:#954F72;
text-decoration:underline;}
p.MsoAcetate, li.MsoAcetate, div.MsoAcetate
{mso-style-priority:99;
mso-style-link:"Balloon Text Char";
margin:0in;
margin-bottom:.0001pt;
font-size:8.0pt;
font-family:"Tahoma","sans-serif";}
span.EmailStyle17
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:windowtext;
font-weight:normal;
font-style:normal;}
span.EmailStyle18
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:#1F497D;}
span.EmailStyle19
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:#1F497D;
font-weight:normal;
font-style:normal;}
span.EmailStyle20
{mso-style-type:personal-reply;
font-family:"Calibri","sans-serif";
color:#1F497D;}
span.BalloonTextChar
{mso-style-name:"Balloon Text Char";
mso-style-priority:99;
mso-style-link:"Balloon Text";
font-family:"Tahoma","sans-serif";}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
<div class="WordSection1">
<p class="MsoNormal"><span style="font-size:12.0pt">Jim, <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">I ought to be able to respond with specificity since I helped draft the Washington Condominium Act.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">But I no longer represent associations and foreclosing lenders.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">I suggest you give Hugh Lewis or Jim Strichartz call – they are about as knowledgeable as any lawyers in the State.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Pete<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><a name="Hugh_Lewis"><img width="250" height="150" id="Picture_x0020_1" src="cid:image001.jpg@01D083FC.624F0F10" alt="Hugh Lewis"></a><a name="Jim_Strichartz"></a><image002.jpg><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><b><u><span style="color:#1F497D">Law Office of James C. Middlebrooks<o:p></o:p></span></u></b></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><b><u><span style="color:#1F497D">Pete Middlebrooks (Attorney)</span></u></b><span style="color:#1F497D"><br>
3050 Belmonte Lane, Everett, WA 98201<br>
Email: <a href="mailto:Pete@jcmiddlebrooks.com"><span style="color:#1F497D">Pete@jcmiddlebrooks.com</span></a><br>
Pete Tel.: 425-252-2693<b><o:p></o:p></b></span></p>
<p class="MsoNormal" style="text-align:justify"><b><span style="color:#1F497D">IMPORTANT/CONFIDENTIAL</span></b><span style="color:#1F497D">: This e-mail message (and any attachments accompanying it) may contain confidential information, including information
protected by attorney-client privilege. The information is intended only for the use of the intended recipient(s). Delivery of this message to anyone other than the intended recipient(s) is not intended to waive any privilege or otherwise detract from the
confidentiality of the message. If you are not the intended recipient, or if this message has been addressed to you in error, do not read, disclose, reproduce, distribute, disseminate or otherwise use this transmission, rather, please promptly notify the
sender by reply e-mail, and then destroy all copies of the message and its attachments, if any.<o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<div style="border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Jim Doran<br>
<b>Sent:</b> Friday, May 1, 2015 10:30 AM<br>
<b>To:</b> 'WSBA Real Property Listserv'<br>
<b>Subject:</b> Re: [WSBARP] Condo Foreclosure Basics<o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Thank you. I’ll look in more detail later.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">For now, the client’s great fear is that she takes the property subject to the Bank of America deed of trust and will lose her $15,000 because she does not intend to pay Bank of America.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Can B of A foreclose my client out of the property without having to redeem it?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Client has not made the $15,000 payment to the Sherriff and has another hour and a half to do so. Why do these things always come up at the last minute?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">James R. Doran<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Attorney at Law<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D">100 E. Pine Street – Suite 205<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D">Bellingham, WA 98225<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D">(360)393-9506<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D"><a href="mailto:jim@doranlegal.com">jim@doranlegal.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D"><a href="http://www.doranlegal.com">www.doranlegal.com</a><o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<div>
<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Richard Holland<br>
<b>Sent:</b> Friday, May 1, 2015 10:18 AM<br>
<b>To:</b> WSBA Real Property Listserv<br>
<b>Subject:</b> Re: [WSBARP] Condo Foreclosure Basics<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">BoA will have the right to redeem by paying to your client what they paid plus some interest etc. It’s in the statute but I am on mobile at the moment. It’s possible that they won’t of course but I would advise
your client not to get too excited just yet.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Jim Doran<br>
<b>Sent:</b> Friday, May 01, 2015 10:01 AM<br>
<b>To:</b> 'WSBA Real Property Listserv'<br>
<b>Subject:</b> [WSBARP] Condo Foreclosure Basics<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt">I have client that just bought a condo at a Sherriff’s sale for $15,000 which were the dues owed by the owner. The underlying debt is with Bank of America for $120,000 but the property has a value of $70,000.
B of A did not show up at the sale. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">What happens? Client gets the property subject to the Bank of America deed of trust, right?
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">So, the deadbeat prior owner won’t pay, that’s for sure. My client doesn’t want to pay $120,000 to B of A. So I expect there will be a foreclosure by bank of America on the new owner.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">What is the function of the “Redemption Rights” in the Bank? Does the Bank have to buy the place back from my client for what she paid at the sale?
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">A quick overview of how this works would be appreciated. Just the framework.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Thanks, <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">James R. Doran<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Attorney at Law<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">100 E. Pine Street – Suite 205<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">Bellingham, WA 98225<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">(360)393-9506<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt"><a href="mailto:jim@doranlegal.com">jim@doranlegal.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt"><a href="http://www.doranlegal.com">www.doranlegal.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
</div></blockquote><blockquote type="cite"><div><span>_______________________________________________</span><br><span>WSBARP mailing list</span><br><span><a href="mailto:WSBARP@lists.wsbarppt.com">WSBARP@lists.wsbarppt.com</a></span><br><span><a href="http://mailman.fsr.com/mailman/listinfo/wsbarp">http://mailman.fsr.com/mailman/listinfo/wsbarp</a></span></div></blockquote></body></html>