Purchaser Has No “Notice” from an Erroneous Abstract of Judgment
A judgment creditor can record an abstract of judgment, a document that identifies the judgment debtor and the amount of the debt. The abstract usually does…
Cotenant Owner vs. Junior Creditor — Battle for Sale Proceeds from Senior Creditor Foreclosure
After a foreclosure sale by a senior creditor, California’s Civil Code section 2924k governs how the sale proceeds are applied in the following order of priority:…
Ninth Circuit Weighs in on “Preemptive” Challenges to Lender’s Authority to Foreclose
Can a California real property owner challenge a lender’s authority to foreclose before a foreclosure sale has occurred? It’s looking less likely with each new appellate opinion.…
Rescinding a Trustee’s Sale Based on Lien Position “Mistake” — Good Luck With That
The statutory scheme governing nonjudicial foreclosure — found in California Civil Code sections 2924 through 2924k — aims for speed, efficiency, and finality. For example, a…
Can a Loan Modification Waive the Borrower’s Right of Reinstatement?
Loans secured by a deed of trust typically provide that upon default (commonly, missed interest payments) the lender may elect to “accelerate” the loan, making the…
Is an APN Sufficient to Describe Property in a Deed of Trust?
To be enforceable, a deed of trust must sufficiently describe the real property security. There are several different ways to describe real property. Commonly used methods…
A Loan In Default Can Still Be Assigned
Borrowers looking to invalidate a foreclosure sale often come up with interesting theories. One frequent strategy is to attack the validity of a prior assignment of…
Foreclosure Against a Commercial Landlord: Impact on Lease Rights
Foreclosure can often have tricky impacts on lease rights, as covered on Money and Dirt in prior posts. See Eviction After Foreclosure: California Supreme Court Weighs…
Trustee Has No Duty to “Verify” Validity of Loan Assignment Before Foreclosure
A trustee in charge of administering a trust has many duties. A trustee appointed pursuant to a deed of trust, however, is different. The duties of…
When the Same Lender Has Both a Senior and Junior Deed of Trust (Revisited)
Almost two years ago, Money and Dirt covered a Fourth District California Court of Appeal opinion addressing an apparent split of authority regarding how a lender…