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<p class="MsoNormal"><font size="2" color="#1f497d" face="Calibri"><span style="font-size:11.0pt;color:#1F497D">I agree with your analysis and plan. It sounds to me like some nonlawyer employed by LLC has a mixed up understanding of the rules. It will still
impact your client’s credit.<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" color="#1f497d" face="Calibri"><span style="font-size:11.0pt;color:#1F497D"><o:p> </o:p></span></font></p>
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<p class="MsoNormal"><font size="4" color="#1f497d" face="Arial"><span style="font-size:13.0pt;font-family:"Arial",sans-serif;color:#1F497D">Rod Harmon</span></font><font color="#1f497d"><span style="color:#1F497D"><o:p></o:p></span></font></p>
<p class="MsoNormal"><b><font size="4" color="#1f497d" face="Arial"><span style="font-size:13.0pt;font-family:"Arial",sans-serif;color:#1F497D;font-weight:bold"> </span></font></b><font color="#1f497d"><span style="color:#1F497D"><o:p></o:p></span></font></p>
<p class="MsoNormal"><b><font size="4" color="#1f497d" face="Arial"><span style="font-size:13.0pt;font-family:"Arial",sans-serif;color:#1F497D;font-weight:bold">RODNEY T. HARMON</span></font></b><font color="#1f497d"><span style="color:#1F497D"><o:p></o:p></span></font></p>
<p class="MsoNormal"><b><font size="2" color="#1f497d" face="Arial"><span style="font-size:11.0pt;font-family:"Arial",sans-serif;color:#1F497D;font-weight:bold"> Attorney at Law</span></font></b><font color="#1f497d"><span style="color:#1F497D"><o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" color="#1f497d" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"> P.O. Box 1066</span></font><font color="#1f497d"><span style="color:#1F497D"><o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" color="#1f497d" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"> Bothell, WA 98041</span></font><font color="#1f497d"><span style="color:#1F497D"><o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" color="#1f497d" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"> Tel: (425) 402-7800</span></font><font color="#1f497d"><span style="color:#1F497D"><o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" color="#1f497d" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"> Fax: (425) 458-9096</span></font><font color="#1f497d"><span style="color:#1F497D"><o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" color="#1f497d" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"> <a href="http://www.rodharmon.com"><font color="#0563c1"><span style="color:#0563C1">www.rodharmon.com</span></font></a></span></font><font color="#1f497d"><span style="color:#1F497D"><o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" color="#1f497d" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"> <a href="mailto:rodharmon@msn.com"><font color="#0563c1"><span style="color:#0563C1">rodharmon@msn.com</span></font></a></span></font><font color="#1f497d"><span style="color:#1F497D"><o:p></o:p></span></font></p>
<p class="MsoNormal" style="margin-top:6.0pt"><font size="2" color="#1f497d" face="Calibri"><span style="font-size:11.0pt;color:#1F497D"><o:p> </o:p></span></font></p>
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<p class="MsoNormal"><b><font size="2" face="Calibri"><span style="font-size:11.0pt;font-weight:bold">From:</span></font></b> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<b><span style="font-weight:bold">On Behalf Of </span></b>greg.listserv@jgsalyards.com<br>
<b><span style="font-weight:bold">Sent:</span></b> Thursday, January 12, 2017 10:02 PM<br>
<b><span style="font-weight:bold">To:</span></b> 'WSBA Real Property Listserv' <wsbarp@lists.wsbarppt.com><br>
<b><span style="font-weight:bold">Subject:</span></b> [WSBARP] Quiet Title Action<o:p></o:p></p>
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<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt">Client was in construction business back before the financial meltdown. Client had a line of credit (LOC) that was taken out to help finance business. Client in personal capacity
was the debtor and business was the guarantor and the LOC was secured by a Deed of Trust (in 2<sup>nd</sup> position) on client’s residence. LOC note and trust deed on client’s residence were signed by Client, but not wife. Wife was, but is no longer on
title to the residence (quitclaimed it to husband years earlier as his separate property).<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt">Nationwide financial meltdown occurs. On or about February 2009, Lender/Bank goes into receivership and the FDIC takes over. Client is notified by FDIC of suspension of funding
which results in hamstringing client’s operations. A few months later Client stops making payments and has not made a payment since. The note matures on 1/5/2010 and per terms of note, all unpaid principal and interest is due. In March 2010 FDIC sent Final
and Formal Demand on Maturity Letter and demands all amount owed. In April 2010, Client receives notice from FDIC that loan was sold to “LLC” on 4/1/2010. In September 2010, Assignment of Real Estate Deed of Trust is filed (FDIC to LLC). In August 2010,
loan servicer sends Notice of Default and Intent to Accelerate letter demanding only past due payments.
<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt">In November 2015, the loan servicer sends letter indicating that the “balloon mortgage” matured on January 5, 2010 and that on January 7, 2016, the full unpaid principal balance
and accrued interest “will be due”. If not paid by January 7<sup>th</sup>, the “loan will be in default and [mortgage servicer] may take steps to accelerate the debt” and commence foreclosure on the client’s residence.<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt">Over the past year the servicer has become aggressive and client wants them to stop.<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt">My Take:<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt">The loan was matured on 1/5/2010. This is the date for SOL to start. The SOL for lender to commence an action to collect on the note was 1/5/2016. This makes the loan servicer’s
letter of November 2015 appear bizarre to me. Threatening to commence action after the SOL has run. Or am I missing something?<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt">My planned course of action is to strip the DOT off with a quiet title action under RCW 7.28.300.
<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt">I would appreciate someone having experience with this type of case sharing their wisdom.<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" face="Calibri"><span style="font-size:11.0pt"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><b><font size="2" color="maroon" face="Calibri"><span style="font-size:11.0pt;color:maroon;font-weight:bold">J. Gregory Salyards,<o:p></o:p></span></font></b></p>
<p class="MsoNormal"><b><font size="2" color="maroon" face="Calibri"><span style="font-size:11.0pt;color:maroon;font-weight:bold">Attorney at Law, LLC</span></font></b><font color="#1f497d"><span style="color:#1F497D"> <br>
</span></font><font size="2" color="black" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black">Office: 401 6<sup>th</sup> St., Oregon City, OR 97045<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" color="black" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black">Mail: 16006 S. Springwater Rd., Oregon City, OR 97045<br>
T: 503.406.8775<o:p></o:p></span></font></p>
<p class="MsoNormal"><font size="2" color="black" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black">C: 503.421.7516<br>
F: 503.715.5691</span></font><font color="#1f497d"><span style="color:#1F497D"><br>
</span></font><u><font size="2" color="black" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><a href="mailto:greg@jgsalyards.com"><font color="blue"><span style="color:blue">greg@jgsalyards.com</span></font></a></span></font></u><u><font size="2" color="#1f497d" face="Arial"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><o:p></o:p></span></font></u></p>
<p class="MsoNormal"><font size="3" color="#1f497d" face="Times New Roman"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#1F497D"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><u><font size="2" color="black" face="Calibri"><span style="font-size:10.0pt;color:black">Confidentiality Notice</span></font></u><font size="2" color="black"><span style="font-size:10.0pt;color:black">: This e-mail message and all attachments
constitutes an electronic communication within the meaning of the Electronic Communications Privacy Act, 18 U.S.C. 2510. This electronic communication is for the sole use of the intended recipient(s) and may contain confidential and/or privileged information.
Any review, use, disclosure or distribution by persons or entities other than the intended recipient(s) is prohibited. If you are not the intended recipient, please contact the sender by reply and destroy all copies of the original message.<o:p></o:p></span></font></p>
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