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<p>3 should not count on the sales price being anywhere near FMV.
The second may bid in its debt and that might be it.<br>
</p>
<pre class="moz-signature" cols="72">Kary L. Krismer
206 723-2148</pre>
<div class="moz-cite-prefix">On 11/5/2021 10:24 AM, James W. Spencer
wrote:<br>
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<p class="MsoNormal">Greetings All:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Since I (almost) exclusively work on the
T&E side of things, I have a question for you dirt
attorneys about what, practically, happens at foreclosure for
the various property creditors.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">In the case at hand, there are three deeds
of trust against the real property. Significant equity, so
paying off all three should be no problem. The second DOT
holder is initiating foreclosure. Do DOT holders 1 and 3 need
to do anything? Is there something like escrow at a Trustee’s
sale that will ensure that all three promissory notes are
satisfied?
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Your insights are appreciated. DOT holder 3
may need legal assistance if that is the best advice, so
referrals (including self) are also appreciated.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thank you,<o:p></o:p></p>
<p class="MsoNormal">James<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="background:white"><span
style="color:black">James W. Spencer</span><o:p></o:p></p>
<p class="MsoNormal">Attorney at Law<o:p></o:p></p>
<p class="MsoNormal">Brothers & Henderson, P.S.<o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span
style="color:black">2722 Eastlake Avenue East, Suite 200</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span
style="color:black">Seattle, Washington 98102</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span
style="color:black">Phone: (206) 324-4300 x106</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span
style="color:black">Fax: (206) 324-3106</span><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span
style="color:black">e-mail: <a
href="mailto:jamess@brothershenderson.com"
moz-do-not-send="true">
<span style="color:blue">jamess@brothershenderson.com</span></a></span><o:p></o:p></p>
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<p class="MsoNormal">pronouns: he/him<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="color:black">The information
transmitted in this e-mail message and attachments is
attorney-client information, is privileged or confidential
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All personal messages are solely the views of the sender and
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