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<p class="MsoNormal"><span style="color:#1F497D">Hi Rob--Negotiation is definitely the way to go. But if the bank starts to stray from the corral, I want a stick with which to gently prod them back into line. Looking for that big (statutory or case law) stick.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Oscar's point was a good one too--the condo lien superpriority--but I don't know enough about that foreclosed lien yet to say whether the debt fell into that category. And, I don't know quite how that superpriority
works in this situation. So I'm looking for a way to force the bank, if necessary, to accept cure of the arrears, and not require payment in full.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Sincerely,<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">Eric<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">Eric C. Nelsen<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">SAYRE LAW OFFICES, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">1320 University St<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Seattle WA 98101-2837<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">phone 206-625-0092<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">fax 206-625-9040<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<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""> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Rob Wilson-Hoss<br>
<b>Sent:</b> Friday, December 04, 2015 2:14 PM<br>
<b>To:</b> 'WSBA Real Property Listserv'<br>
<b>Subject:</b> Re: [WSBARP] Does purchaser at judicial foreclosure of condo lien have standing to cure pending nonjudicial foreclosure<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman","serif"">I have just done this one time. It required negotiations with the lender. For the lender, it usually makes sense to work with someone like your client, but that is not
necessarily the determining factor for many larger banks. The determining factor often is, for these banks, is there a way we can say no to anything that we are asked to do that is outside of the little boxes we are used to?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman","serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman","serif"">Rob
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman","serif""><o:p> </o:p></span></p>
<div>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:14.0pt;font-family:"Times New Roman","serif"">Robert D. Wilson-Hoss
<br>
Hoss & Wilson-Hoss, LLP <br>
236 West Birch Street <br>
Shelton, WA 98584 <br>
360 426-2999<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman","serif""><a href="www.hossandwilsonhoss.com">www.hossandwilson-hoss.com</a><br>
<a href="mailto:rob@hctc.com">rob@hctc.com</a></span><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="text-autospace:none"><i><span style="font-family:"Times New Roman","serif"">This message is intended solely for the use of the addressee and may contain information that is privileged, confidential, and exempt from disclosure under
applicable law. If you are not the addressee, you are hereby notified that any use, distribution, or copying of this message is strictly prohibited. If you received this message in error, please notify us by reply e-mail or by telephone (call us collect
at the number listed above) and immediately delete this message and any and all of its attachments. Thank you.<o:p></o:p></span></i></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Times New Roman","serif";text-transform:uppercase">This office does debt collection and this e-mail may be an attempt to collect a debt, Any information obtained will be used for that purpose.
</span></b><span style="font-size:10.0pt;font-family:"Times New Roman","serif"">To the extent the Federal Fair Debt Collection Practices Act (15 U.S.C. § 1692) applies this firm is acting as a debt collector for the condominium/homeowners' association named
above to collect a debt owed to it. Any information obtained will be used for collection purposes. You have the right to seek advice of legal counsel.</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman","serif""><o:p> </o:p></span></p>
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<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>Marcus Fry<br>
<b>Sent:</b> Friday, December 04, 2015 1:53 PM<br>
<b>To:</b> 'WSBA Real Property Listserv'<br>
<b>Subject:</b> Re: [WSBARP] Does purchaser at judicial foreclosure of condo lien have standing to cure pending nonjudicial foreclosure<o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><a name="_GoBack"></a><span style="color:#1F497D">Great question. Logic and equity would dictate that the purchaser at the sheriff’s sale would have the right to cure any other encumbrances. But you are right, the PC doesn’t fit any of
these titles. In my view PC doesn’t even fit as an encumbrancer because PC actually received title rather than purchasing the condo lien and having it assigned to the PC.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Marcus J. Fry<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Lyon, Weigand & Gustafson, P.S.
<br>
Adoption Attorney*<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">P.O. Box 1689
<br>
Yakima, Washington 98907 <br>
Telephone: (509) 248-7220 <br>
Facsimile: (509) 575-1883 <o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><b><u><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p><span style="text-decoration:none"> </span></o:p></span></u></b></p>
<p class="MsoNormal" style="text-align:justify"><b><u><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">NOTICES:<o:p></o:p></span></u></b></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> *Adoption Attorney reflects election as a Fellow of the American Academy of Adoption Attorneys, an invitation based organization of
300+ attorneys nationwide, under its criteria of experience, ethics and peer recommendation. Washington's Supreme Court has not yet developed or recognized a credentialing process for specialties, and certification/fellowship is not required to practice law
in this state.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Confidentiality:
</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">This e-mail transmission may contain information which is protected by attorney-client, work product and/or other privileges. If you are not the intended recipient, you
are hereby notified that any disclosure, or taking of any action in reliance on the contents, is strictly prohibited. If you have received this transmission in error, please contact us immediately and return the e-mail to us by choosing Reply (or the corresponding
function on your e-mail system) and then deleting the e-mail.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<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>Eric Nelsen<br>
<b>Sent:</b> Friday, December 04, 2015 12:41 PM<br>
<b>To:</b> WSBA Real Property listserve (<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>)<br>
<b>Subject:</b> [WSBARP] Does purchaser at judicial foreclosure of condo lien have standing to cure pending nonjudicial foreclosure<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Potential client purchased a condo at a sheriff sale resulting from judicial foreclosure of a condo lien for dues in arrears. (I do not have any further detail on that.)<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The property also has a pending nonjudicial foreclosure on a bank loan, currently about 60 days out. The original borrower was, obviously, the prior owner of the condo, not PC.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Does PC have standing to pay the arrears and halt the trustee sale?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><a href="http://app.leg.wa.gov/RCW/default.aspx?cite=61.24&full=true#61.24.090">RCW 61.24.090(1)</a> says the people who can do that are: "the borrower, grantor, any guarantor, any beneficiary under a subordinate deed of trust, or any person
having a subordinate lien or encumbrance of record on the trust property or any part thereof." PC doesn't expressly fall into one of these categories, it seems to me. But arguably is something like a successor in interest to a subordinate encumbrance?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Side issue: There is probably the additional wrinkle of a due-on-sale clause in the DOT, but since this trustee sale was predicated on failure to pay rather than disallowed transfer, I think that PC could delay things by paying the arrears
and halting this trustee sale, and force the lender to issue a new notice of default for violation of due-on-sale.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Sincerely,<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">Eric<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">Eric C. Nelsen<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">SAYRE LAW OFFICES, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">1320 University St<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Seattle WA 98101-2837<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">phone 206-625-0092<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">fax 206-625-9040<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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