Quiet title is a lawsuit used in California to establish title to real estate against adverse claims. Quiet title attorneys know that If there is a dispute as to title, and claims against a property, the court order decides it once and for all- or almost all. California statutes allow…
I have posted before discussion of a decision which allowed postponing a trustee’s sale, and one which postponed the sale without requiring an injunction bond, because of claims the lender did not comply with Civil Code 2923.5. This section requires that, before filing the Notice of Default, the lender shall…
California lawsuits to set aside a trustee’s sale are generally suits in equity, and a borrower who seeks equity must do equity. One requirement of equity in this situation is that the borrower must pay, or offer to pay, all the secured debt or at least all of the delinquencies…
A typical California commercial mortgage loan requires the borrower and/or its principals to execute a “bad boy guaranty” (a/k/a recourse carve out guaranty). This which provides for personal liability against the borrower and principals of borrower if certain listed ‘bad acts’ are committed by the borrower and its principals. It…
Court decisions in other states, as well as California bankruptcy courts, have implied that there are strict rules regarding assigning and recording assignments of Deeds of Trust and Promissory Notes. The Salazar bankruptcy court decision implied that the note had to be assigned, and in possession of the foreclosing lender.…
California homeowners facing foreclosure are right to be concerned about whether their mortgage is a non-recourse loan, or if they will end up personally liable for the loan. However, some foreclosed Californians are surprised to find that they may be liable for utilities after the trustee’s sale, when they no…
There are a number of steps troubled California home mortgage borrowers can take. The can negotiate with the lender or servicer of their loan. As I discussed last June in the California Real Estate Lawyers Blog, they can apply to the Keep Your Home California program HERE. One new step…
Often in California real estate nonjudicial foreclosures (trustee sales), it is not the first lender that is foreclosing, but the second deed of trust. Concerning priorities: the “first” is the first deed of trust to be recorded, and is usually the purchase money loan, or a refinance. The first is…
I had noted in a previous post that between late 2009 and 2013, more than $2 trillion in commercial mortgages, which typically have a five- to 10-year term, will need to be refinanced. Many California commercial mortgage loans have gone into default and the properties are being run by court…
Last week I discussed the use of the all-inclusive or wrap deed of trust. First, some definitions. The Seller owns property and pays the underlying note secured by the underlying deed of trust. The Buyer is the person who commits to pay the overriding note to the Seller secured by…