Trustee Sales

News & Analysis as of

When is a Wrongful Foreclosure Case a “SLAPP”?

California’s anti-SLAPP statute (Code of Civil Procedure section 425.16) arms a defendant with an early method to challenge a lawsuit known as a “SLAPP” — a Strategic Lawsuit Against Public Participation. SLAPPs are...more

Recent Arizona Case Law and Legislative Developments Affecting Real Estate Lending

The following information accompany a presentation Mike gave to members of the Arizona Commercial Mortgage Lenders Association (ACMLA) on March 8, 2016. A summary of legislative amendments enacted during the most recent...more

“Dual Tracking” Can Be Unfair Competition

Unfair competition claims are often seen as “tag-along” claims without a lot of independent value. A recent California Court of Appeal decision (Fourth District, Division Three in Santa Ana) published January 14, 2016 — Majd...more

Yvanova v. New Century Mortgage Corp.: Perceived Victories And Defeats On All Sides

In the area of consumer lending litigation, plaintiffs’ and defense attorneys alike have waited with bated breath for the California Supreme Court to issue its decision in Yvanova v. New Century Mortgage Corp. The decision...more

Judicial Foreclosure: Things That Can Go Sideways During The Redemption Period

Judicial foreclosure is uncommon in California. In most cases, lenders will pursue nonjudicial foreclosure (aka “trustee’s sales”), which are simple, quick, and efficient. But when a lender is dead-set on recovering a...more

Guarantors Can Waive Anti-Deficiency Protections

In Arizona, guarantors can now be held liable for deficiencies even where borrowers avoid liability due to Arizona’s anti-deficiency statute. Arizona courts have been active in the last few years in addressing the law...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

No Need for Foreclosing Trustee To Record New Notice of Sale upon Third-Time Postponement, Nevada Supreme Court Holds

The Nevada Supreme Court recently interpreted a statute that governs the manner in which a foreclosing trustee can postpone a trustee’s sale. At issue was whether a trustee must record a new notice of sale upon orally...more

Nevada Supreme Court Clarifies Notice Requirements For Trustee’s Sale

In JED Property, LLC v. Coastline RE Holdings NV Corp., 131 Nev. Adv. Op. 11 (Mar. 5, 2015) the Nevada Supreme Court was presented with an appeal from an order granting summary judgment in favor of Coastline. Coastline held a...more

No Change Of Position, No Estoppel

Under California Law, a party seeking to defeat the statute of frauds based on promissory estoppel must allege an actual change in position. In Jones v. Wachovia Bank, 230 Cal.App.4th 935 (2014), the California Court of...more

Update – Prospective Waivers of “Fair Market Value” Hearings are Definitely Void.

In 2013, we blogged about the Arizona Court of Appeals’ determination that prospective contractual waivers of “fair market value” hearings are unenforceable as a matter of public policy. The link to our prior blog post is...more

After the Bank Forecloses, Must It Actually Sell Your House?

The Wisconsin Supreme Court will answer this question in Bank of New York v. Carson, No. 2013AP544. It heard argument in this case last Tuesday. The case began more than 3 1/2 years ago when a widow—physically and...more

Full Credit Bid Rule Bars Recovery for Wrongfully Enjoined Lender

On June 30, 2014, Judge James A. Teilborg, a Senior District Judge in Arizona, ruled that Tri City National Bank (“TCNB”) was not entitled to bond money posted by the plaintiffs after TCNB was wrongfully enjoined from...more

Borrowers Can Avoid Liability Even After a Trustee’s Sale

Since a lender must have a valid debt and valid lien to conduct a trustee’s sale, a borrower that allows the foreclosure sale to occur impliedly agrees that the debt and lien are valid. In Madison v. Groseth and BT Capital,...more

An Overview of Trustee's Sales in the Commonwealth of Virginia

Lenders most often choose to proceed with the trustee's sale pursuant to the deed of trust because a trustee's sale is faster and cheaper than proceeding with a judicial sale, and it has advantages over accepting a deed in...more

Watch For Excess Proceeds Following A Trustee Sale

Believe it or not, Arizona land owners are seeing a change in the real estate landscape, perhaps only a slight change, but a change nonetheless. While Arizona law has not changed, marketplace improvement has triggered the...more

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