Loan Modifications and Losing Lien Priority
Modifying a loan can sometimes cause a loss of lien priority. It all depends on the facts underlying the modification, and even the original loan. A…
Relying on a Void Quiet Title Judgment
Under California’s Quiet Title Act, a third party who acts in reliance on a quiet title judgment retains its property rights even if that quiet title…
How a Junior Lien Can Survive Judicial Foreclosure
This post was primarily authored by Patton Sullivan Brodehl attorney Zachary Young. Oscar Wilde is quoted for saying—“To expect the unexpected shows a thoroughly modern intellect.”…
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…
Lender Has No Duty to Monitor and Correct Public Records
Mortgage lenders tend to pay a lot of attention to the real property securing their loans, as they should. Before the loan is made, lenders scrutinize…
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…
Beware “Super-Priority” Receivership Liens
In California, lien priority is usually resolved by a straightforward examination of the time of creation or recordation with the County Recorder, which gives “constructive notice”…
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…
Title Insurance Covers That Foreclosure Problem, Right?
In the minds of many buyers of distressed properties at foreclosure sales, the existence of ANY title insurance policy relating to the property — even if…
When the Same Lender Has Both a Senior and Junior Deed of Trust….
If the same lender has both a senior and junior deed of trust on the same security property, can that lender foreclose on the senior lien…