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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><a name="_MailEndCompose"><span style='font-size:14.0pt;background:yellow;mso-highlight:yellow'>“I think I should retire</span></a><span style='font-size:14.0pt'>” ….Robert D. “Rob” Wilson-Hoss.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>I thought you already had (!?!).<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>It’s comforting to know such a grey eminence continues to lurk among us.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>Go Bearcats.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>clg<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><div><p class=MsoNormal style='text-align:justify;line-height:15.0pt;mso-line-height-rule:exactly;page-break-after:avoid;punctuation-wrap:hanging'><span style='font-size:14.0pt;font-family:"Bradley Hand ITC";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'>CARL LLOYD GAY<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:15.0pt;mso-line-height-rule:exactly;page-break-after:avoid;punctuation-wrap:hanging'><span style='font-family:"Palace Script MT";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'><o:p> </o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><span style='font-size:14.0pt;font-family:"Bradley Hand ITC";color:#C00000;position:relative;top:0pt;mso-text-raise:0pt;background:white'>Non nobis solum nati sumus</span><span style='font-size:14.0pt;font-family:"Bradley Hand ITC";color:#C00000;position:relative;top:0pt;mso-text-raise:0pt'><o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><span style='font-size:9.0pt;color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;background:white'> “Not unto ourselves alone are we born” <o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><span style='font-family:"Palace Script MT";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'> ~</span><span style='font-size:8.0pt;color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;background:white'>the motto of Willamette University~</span><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt'><o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:15.0pt;mso-line-height-rule:exactly;page-break-after:avoid;punctuation-wrap:hanging'><span style='font-family:"Palace Script MT";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'> <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:15.0pt;mso-line-height-rule:exactly;page-break-after:avoid;punctuation-wrap:hanging'><span style='font-size:16.0pt;font-family:"Bell MT","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'>G</span><span style='font-family:"Bell MT","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'>REENAWAY, </span><span style='font-size:16.0pt;font-family:"Bell MT","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'>G</span><span style='font-family:"Bell MT","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'>AY, </span><span style='font-size:16.0pt;font-family:"Bell MT","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'>M</span><span style='font-family:"Bell MT","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'>EDINA </span><span style='font-size:16.0pt;font-family:"Bell MT","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'>& M</span><span style='font-family:"Bell MT","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'>YERS<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:15.0pt;mso-line-height-rule:exactly;page-break-after:avoid;punctuation-wrap:hanging'><span style='font-family:"Californian FB","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt;letter-spacing:-.1pt'>Attorneys and Counselors at Law <o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><span style='font-family:"Californian FB","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt'>734 East First Street Suite A<o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><span style='font-family:"Californian FB","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt'>Port Angeles, Washington 98362<o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><span style='font-family:"Californian FB","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt'>Email </span><a href="mailto:carl@greenawaylawfirm.com"><span style='font-family:"Californian FB","serif";position:relative;top:0pt;mso-text-raise:0pt'>carl@greenawaylawfirm.com</span></a><span style='font-family:"Californian FB","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt'><o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><span style='font-family:"Californian FB","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt'>Telephone (360) 452-3323 <o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><span style='font-family:"Californian FB","serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt'>Facsimile (360) 452-3724 <o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt'><o:p> </o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><span style='font-size:8.0pt;font-family:"Calibri","sans-serif";color:#1F497D;position:relative;top:0pt;mso-text-raise:0pt'>THIS EMAIL TRANSMISSION IS INTENDED FOR THE EXCLUSIVE USE OF THE INDIVIDUAL OR ENTITY TO WHOM IT IS ADDRESSED, AND MAY CONTAIN PRIVILEGED AND CONFIDENTIAL INFORMATION THAT IS COVERED BY THE ELECTRONIC COMMUNICATIONS PRIVACY ACT (18 USC §§ 2510-2521). IF YOU ARE NOT THE INTENDED RECIPIENT OR AGENT RESPONSIBLE TO DELIVER THE MESSAGE TO THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS COMMUNICATION IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR; PLEASE NOTIFY US IMMEDIATELY BY TELEPHONE AND/OR EMAIL AND DELETE THE ORIGINAL MESSAGE. THANK YOU <o:p></o:p></span></p></div><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";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 style='punctuation-wrap:hanging;text-autospace:ideograph-numeric ideograph-other'><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";position:relative;top:0pt;mso-text-raise:0pt'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";position:relative;top:0pt;mso-text-raise:0pt'> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com] <b>On Behalf Of </b>rob@hctc.com<br><b>Sent:</b> Wednesday, September 23, 2020 10:27 AM<br><b>To:</b> 'WSBA Real Property Listserv'; cole-gilday@stanwoodlaw.net<br><b>Subject:</b> Re: [WSBARP] foreclosure vs deed in lieu<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:14.0pt'>Rick is of course right as always, but my experiences – including successful litigation with this as the centerpiece with a six figure result – is that most of the larger banks (usually through their undereducated and undertrained and undersupervised staff) often just don’t have any idea what they are doing. They have certain boxes, and if something doesn’t fit in a box, then they just can’t deal with it. A retiring Wells Fargo regional administrator who was responsible for these things explained this to me when I was really frustrated about a different case. Smaller banks, like the one Rick was a director for, pay attention. Larger banks, not so much. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>Rick’s bank used a sharp carving knife. Big banks use a dull chainsaw for the same cuts. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>Recall all of the times in the fairly recent past when a very large bank has been fined a huge amount of money for greed and incompetence. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>Sure, they can say they are worried about all sorts of things, but a title guaranty belies those worries. Try offering them an indemnification – they usually won’t even accept that. My view is unfortunately cynical, but based on much experience. How can they not make money, especially in today’s markets, on deeds in lieu, if they are reasonably careful, as a general policy, over foreclosures often delayed by years by their own inefficiencies?<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;background:yellow;mso-highlight:yellow'>I think I should retire.</span><span style='font-size:14.0pt'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>Rob <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><div><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:14.0pt;position:relative;top:0pt;mso-text-raise:0pt'>Robert D. Wilson-Hoss<o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:14.0pt;position:relative;top:0pt;mso-text-raise:0pt'>Hoss & Wilson-Hoss, LLP<o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:14.0pt;position:relative;top:0pt;mso-text-raise:0pt'>236 West Birch Street<o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:14.0pt;position:relative;top:0pt;mso-text-raise:0pt'>Shelton, WA 98584<o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:14.0pt;position:relative;top:0pt;mso-text-raise:0pt'>360 426-2999<o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:14.0pt;position:relative;top:0pt;mso-text-raise:0pt'><a href="http://www.hossandwilson-hoss.com">www.hossandwilson-hoss.com</a><o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:14.0pt;position:relative;top:0pt;mso-text-raise:0pt'><a href="mailto:rob@hctc.com">rob@hctc.com</a><o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:14.0pt;position:relative;top:0pt;mso-text-raise:0pt'><o:p> </o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:14.0pt;position:relative;top:0pt;mso-text-raise:0pt'>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></p></div><p class=MsoNormal><span style='font-size:14.0pt'><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 style='punctuation-wrap:hanging;text-autospace:ideograph-other'><b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";position:relative;top:0pt;mso-text-raise:0pt'>From:</span></b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";position:relative;top:0pt;mso-text-raise:0pt'> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com> <b>On Behalf Of </b>Rick Hoss<br><b>Sent:</b> Wednesday, September 23, 2020 9:15 AM<br><b>To:</b> cole-gilday@stanwoodlaw.net; 'WSBA Real Property Listserv' <wsbarp@lists.wsbarppt.com><br><b>Subject:</b> Re: [WSBARP] foreclosure vs deed in lieu<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";position:relative;top:0pt;mso-text-raise:0pt'>Lenders make foreclosure decisions for many reasons. Each bank carefully monitors and categorizes non-performing loans, defaulted loans, loans in foreclosure and other real estate owned. The number of loans in each of these 4 category is measured every month. Sometimes decisions are made based on timing, and you can get a different answer before or after the next regulatory exam or accounting period.<o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";position:relative;top:0pt;mso-text-raise:0pt'>What if the bank holds too much foreclosed property (they call other real estate owned) and they have an exam or audit next month? Sometimes banks prefer a trustee sale or sheriff sale if they think a cash buyer is likely. What if the bank needs to realize, or defer, the loss for accounting purposes? What if the decision maker like a bank branch manager gets a bonus if the branch other real estate owned drops to a certain level? Sometimes servicers spend their foreclosure budget before year end. Some banks don't realize they can take a non-merger deed in lieu and reserve the right to foreclose any later discovered liens not disclosed in the trustee sale or litigation guaranty title reports. Sometimes banks listen to lawyers who have limited experience.<o:p></o:p></span></p><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";position:relative;top:0pt;mso-text-raise:0pt'>If a lender does take a deed in lieu they require a written agreement - you may get a different answer by proposing a lender friendly agreement with the PR listing the facts in a signed Declaration. From an old bank director and lawyer.<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><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal style='punctuation-wrap:hanging;text-autospace:ideograph-other'><b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";position:relative;top:0pt;mso-text-raise:0pt'>From:</span></b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";position:relative;top:0pt;mso-text-raise:0pt'> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>> <b>On Behalf Of </b>Robert R. Cole<br><b>Sent:</b> Tuesday, September 22, 2020 5:31 PM<br><b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br><b>Subject:</b> [WSBARP] foreclosure vs deed in lieu<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p>Can someone tell me why Lenders don't take a deed in lieu, especially after Borrower's death, even when there is no other loan, and a PR willing to give it, and no Medicaid to be reimbursed? It has happened to me numerous times. Is it due to insurance issues or other back office matters??? What are they afraid of?<o:p></o:p></p><div><p class=MsoNormal style='margin-bottom:12.0pt;punctuation-wrap:hanging;text-autospace:ideograph-other'>-- <span style='font-size:11.0pt;font-family:"Calibri","sans-serif";position:relative;top:0pt;mso-text-raise:0pt'><o:p></o:p></span></p><p class=MsoNormal> <o:p></o:p></p><p class=MsoNormal>Very Truly Yours,<o:p></o:p></p><p class=MsoNormal>Robert R. Cole<o:p></o:p></p><p class=MsoNormal>Law Office of Cole & Gilday, P.C. <o:p></o:p></p><p class=MsoNormal> <o:p></o:p></p><p class=MsoNormal>10101 - 270th St. NW <o:p></o:p></p><p class=MsoNormal>Stanwood, WA 98292 <o:p></o:p></p><p class=MsoNormal>(360) 629-2900 (Telephone) <o:p></o:p></p><p class=MsoNormal>(360) 629-0220 (Fax) <o:p></o:p></p><p class=MsoNormal> <o:p></o:p></p><p class=MsoNormal>This message contains confidential and privileged information that is intended only for the named recipient(s). Unless you are the named recipient or authorized agent thereof, you are prohibited from reading, copying, distributing or otherwise disseminating such information. If you receive this communication in error, please notify the sender immediately.<o:p></o:p></p><p class=MsoNormal> <o:p></o:p></p></div></div></body></html>