Plaintiff was the highest bidder at a trustee’s sale of real property, and he filed an action to quiet title. Two days after the sale, the trustee telephoned plaintiff and told him the sale was void because the trustee “did not offer the Property for a high enough bid amount.” The trustee returned plaintiff’s cashier’s check, […]
Notification Requirement In Foreclosure Sale Set Forth In Code of Civil Procedure § 729.050 Is Not Satisfied By Common Law Presumption Of Regularity.
A homeowners association notified homeowners they were delinquent in paying their monthly assessment fees. After the homeowners disputed the debt, the association conducted a nonjudicial foreclosure sale. The homeowners brought an action to set aside the foreclosure sale and the trial court granted summary judgment in favor of the association. The appellate court reversed, after rejecting […]
Real Estate Agent Injured By Concealed Danger While Showing Foreclosed-Upon Home.
A loan services company owned a home which had been foreclosed upon. The home had been visited by more than 100 real estate agents. One of the features was an attic that had been converted into a bonus room by a previous owner, which room was accessed by using a pull-down stairway. The home had been […]
Dismissal Of Wrongful Foreclosure Action Reversed.
The appellate court reversed the sustaining of a demurrer to plaintiff’s complaint for wrongful foreclosure. In support of the demurrer, defendants sought judicial notice, which was granted, of the notice of default, including the attached declaration of someone named Samantha Jones, which stated the bank “tried with due diligence to contact [plaintiff] in accordance with California […]
Borrower Must Be Offered A Permanent Loan Modification When They Comply With A Trial Period Plan.
After her home loan went into default, plaintiff agreed to a trial period plan [TPP], a form of temporary loan payment reduction under the Home Affordable Mortgage Program [HAMP]. Plaintiff complied with the TPP, making timely reduced monthly payments. Nonetheless, the bank denied her a permanent loan modification, and plaintiff’s home was sold at a trustee’s […]
2007 Mortgage Debt Relief Act Extended For One Year In Senate Bill.
It appears that the Mortgage Debt Relief Act of 2007 will be extended for one year. The Senate is currently making amendments to the Bill, passed in the House earlier this morning and the President has yet to sign, however, with those caveats the extension is expected to be included. Here is the text from […]
Omission Of A Trustee On Deed Of Trust Does Not Prevent Enforcement Of The Deed Of Trust.
After homeowners/borrowers fell more than $90,000 behind in payments, the beneficiary of the deed of trust substituted an entity as trustee to initiate nonjudicial foreclosure proceedings. The homeowners sued to set aside the sale because the deed of trust failed to designate a trustee. Both the trial court and the appellate court held the omission […]
How Can I Protect Against Foreclosure?
When foreclosure threatens, what are your options for keeping your home? Loan Modification is the most well known way to stay in and keep your home if you get behind on payments. There are a number of programs depending on your lender and servicer that you may qualify for and also if Freddie Mac or […]
Foreclosure or Short Sale: Loss Mitigation Strategies for Homeowners, Realtors, and Attorneys Video Release
Tonight I am at Double Mountain Studios editing our “Foreclosure or Short Sale: Loss Mitigation Strategies for Homeowners, Realtors, and Attorneys” video. About to launch to the public! Stay Tuned for our release announcements coming soon . . .
Can A Second Deed of Trust Holder Sue Its Borrower After Foreclosure?
On June 20, 2012, the Fourth District Court of Appeals, Division Three, in Cadlerock Joint Venture, L.P., v. Lobel (Case No. G045936) recently decided a novel question of law. In Cadlerock, the Court asked when a single lender contemporaneously makes two non-purchase money loans secured by two deeds of trust referencing a single real property […]