Plaintiffs had rented space in a converted garage unit for several years when the residential property was foreclosed upon by a bank. The trial court granted the bank’s motion for summary judgment based on its determination the foreclosure sale extinguished plaintiff’s lease. Citing the Protecting Tenants Against Foreclosure Act of 2009 [PTFA; Pub.L. 111-22, Div. A, […]
Is A Notice Of Sale Valid If Over A Year Old?
If the Notice of Trustee’s Sale is more than 365 days old, it is probably invalid. California Civil Code section 2924g, subdivision (c)(1) provides: ” (c) (1) There may be a postponement or postponements of the sale proceedings, including a postponement upon instruction by the beneficiary to the trustee that the sale proceedings be postponed, at any time prior to […]
MORTGAGE DEBT RELIEF ACT – SET TO EXPIRE DECEMBER 31, 2013 !
There are 30 days to go until January 1, 2014 when forgiven debt from the disposition of a principal residence – exempted from income tax since the Mortgage Debt Relief Act of 2007 went into effect, will again become taxable. This is not the first time this law has had to be revised for an extended […]
Home Was Sold While In Compliance With Mortgage Modification Plan; Demurrer Should Not Have Been Sustained.
In 2006, plaintiff refinanced her home and executed a promissory note secured by the deed of trust. The deed of trust was later assigned to defendants. A notice of default and election to sell under the deed of trust were executed and recorded. After negotiations, defendant offered plaintiff a modification plan which required her to make […]
No Private Right Of Action For Tenant.
Plaintiff was a tenant on property for which a bank took title at foreclosure. The bank served her with a three-day notice of termination and then immediately initiated an unlawful detainer action. Plaintiff contends the bank was required to serve a 90-day notice of termination prior to eviction. She filed an action against the bank in […]
Highest Bidder At A Trustee Sale Of Real Property, Too Good To Be True.
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 […]