Deed of Trust Foreclosure

News & Analysis as of

Is a “Receiver’s Sale” a Foreclosure Sale?

Earlier this year, the Nevada Supreme Court held in U.S. Bank Nat’l Assn. v. Palmilla Dev. Co. that under Nevada law, a “receiver’s sale” of real property securing a loan qualifies as a judicial foreclosure sale, and...more

How Nevada SB 306 and Court Rulings Have Changed the Foreclosure Landscape - Counsel's Corner with Jon Patterson

What changes were brought about to the HOA foreclosure sale landscape by the passage of SB 306 in Nevada? SB 306 contained a number of important revisions to Nevada’s super-priority lien statute that will provide...more

NC Court of Appeals Weighs in on Multiple Creditor’s Rights Issues

The NC Court of Appeals has issued a number of opinions this year involving lender foreclosure or collection efforts. Not all of the holdings have been monumental, but there is a common thread of useful principles,...more

Nevada HOA Super-Priority Lien Statute Preempted by Federal Law, Holds U.S. District Court

On Monday, the U.S. District Court for Nevada issued significant decisions in three cases, holding that a foreclosure on a Nevada HOA’s super-priority lien could not extinguish a deed of trust securing a debt owned by a...more

Notice Me: The New Notice Requirements for HOA Lien Foreclosures in Nevada

In a previous blog post, we reported on Senate Bill 306, passed by Nevada Governor Brian Sandoval on May 28, 2015. The legislation redresses the substantial harm caused by SFR Investments Pool 1, LLC v. U.S. Bank, N.A. In SFR...more

Foreclosed Property: Related Rights May Be Tricky

Cooper v. WPD Polar Ridge, LLC (In re Poplar Ridge, LLC), 526 B.R. 147 (W.D. N.C. 2015) – After a developer defaulted, the trustee under a deed of trust held a pre-petition foreclosure sale.  The issue was whether the...more

Nevada HOA Foreclosures Cannot Extinguish Deeds of Trust Held by Fannie Mae, Holds U.S. District Court

Yesterday, the U.S. District Court for the District of Nevada issued an important ruling concerning the litigation over whether homeowners’ association foreclosures under Nevada’s super-priority lien statute (NRS 116.3116)...more

Nevada Amends Laws Regarding Homeowners’ Association Liens

While an amended Nevada Senate bill does not change the Nevada Supreme Court’s seminal holding that an association lien is a true priority lien that, when properly foreclosed, may extinguish a first deed of trust, the new law...more

Nevada Senate Passes Bill Affecting Super-Priority Liens in Foreclosure

The Nevada Legislature recently passed a bill intended, in part, to address issues resulting from the Nevada Supreme Court’s decision that a homeowners association lien is a true super-priority lien that, if foreclosed,...more

Nevada Passes HOA Super Priority Lien Fix

On May 28, 2015, Nevada Governor Brian Sandoval signed into law Senate Bill 306, which will fundamentally alter the HOA foreclosure sale landscape in Nevada. Following the Nevada Supreme Court’s decision in September 2014 in...more

Money, Dirt & Steel: Spring 2015 NC Real Property Litigation Update

MONEY: GUARANTORS CAN NOW RELY ON G.S. §45-21.36 VALUE DEFENSES - By statute in North Carolina, G.S. §45-21.36, certain obligors may defend a deficiency action where the bank is the successful bidder by arguing...more

Borrowers Cannot Challenge Mortgage Assignments, Says Nebraska Joining Other States

Attacking sufficiency, accuracy, or validity of assignments of mortgages and deeds of trust has been among the most common strategies employed by borrowers to challenge foreclosures. Allegations regarding the status of MERS,...more

2015 Update of Arizona's Anti-Deficiency Laws

Deadline for seeking deficiency. Section 33-814(A) of the Arizona Revised Statutes allows a foreclosing creditor (the "beneficiary"), within 90 days after the date of a trustee's sale, to commence an action to recover a...more

Foreclosure Sales: When Is the “Deed” Done?

In re Betchan, 524 B.R. 830 (Bankr. E.D. Wash. 2015) – A mortgagee was the highest bidder at a foreclosure sale that took place shortly before the debtor filed bankruptcy. The lender requested relief from the...more

Can First Deeds of Trust Survive an HOA Foreclosure in Wake of the SFR Investments Decision?

In September 2014, the Nevada Supreme Court, in SFR Investments Pool 1, LLC v. U.S. Bank, N.A., 334 P.3d 408 (Nev. Sep. 18, 2014), held that a portion of a homeowners’ association lien for delinquent assessments has true...more

Alterations Don’t Always Render a Deed Void (or How NOT to do Foreclosure Investing)

Most real estate investors assume that when a deed is altered by someone other than the grantor, without the grantor’s knowledge or consent, before it is recorded, then the deed is void and conveys no title, even as to bona...more

Compliance with California Foreclosure Recording Law: What Level of "Defect" in Foreclosure Recordings "Void" a Foreclosure Sale?

In the wake of the California foreclosure crisis, one of several arguments relied on by borrowers facing foreclosure (and their attorneys) in “wrongful foreclosure” suits has been that some aspect of the statutory foreclosure...more

Supreme Court of Washington Clarifies Guarantor Liability for Deficiency Judgments

The Supreme Court of Washington has upheld a lender’s right to pursue a deficiency judgment against a guarantor following a nonjudicial foreclosure of collateral under Washington’s Deed of Trust Act (the “Act”). The court’s...more

California Foreclosure Law: California Supreme Court Grants Review Of The Keshtgar Decision

As reported in our blog article below, in June the Second District Court of Appeal held that California’s non-judicial foreclosure statutes do not grant a defaulting borrower the right to enjoin a foreclosure sale by alleging...more

Washington Supreme Court Affirms Washington Federal v. Gentry and Confirms Lenders’ Right to Obtain Deficiency Judgments Against...

The Washington Supreme Court issued an opinion today affirming the right of a lender to obtain a deficiency judgment against a commercial guarantor following a nonjudicial foreclosure. Divisions One and Two of the Washington...more

Real Estate Tip: Foreclosure Confusion

The financial crisis has taught us a great deal about the mortgage transfer business, secondary markets and loan securitization. In the Spring 2014 issue of the Real Property, Trust & Estate Law Journal, Prof. Dale A. Whitman...more

“First” Deeds of Trust now Second in Line?

Never a dull moment. We at Crunched Credit are probably guilty of excess and perhaps myopic focus on our federal government and its regulatory apparatus; it is such a consistently reliable source of commentary and outrage. ...more

Blog: HOA Liens Reign Supreme Under Nevada’s Interpretation of the Uniform Common Interest Ownership Act

Nevada is one of many states that adopted some iteration of the Uniform Common Interest Ownership Act, an act designed in part to aid homeowners’ associations (“HOAs”) in recovering delinquent fees from their members. As...more

New California Case Illustrates Peril of Full Credit Bid

In a new California case, a lender that made a full credit bid at a foreclosure sale lost its right as mortgagee under a lender’s insurance policy for damage to the property that occurred prior to foreclosure. This was so...more

Lenders Beware: the Nevada Supreme Court Holds That Foreclosures of Homeowners’ Association Liens May Extinguish First Priority...

Nevada has adopted the Uniform Common Interest Ownership Act of 1982 (the “Act”) which governs homeowners’ associations (“HOA”). One particular provision of that Act, enacted by Nevada in 1991 and later amended, and codified...more

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