On January 8, 2015, the Washington State Supreme Court resolved a conflict between the state's Court of Appeals regarding deficiency judgments and guarantor liability following a nonjudicial foreclosure of the borrower's real property. Chris Graving explains the significance of this decision.
On September 18, 2014, in Frias v. Asset Foreclosure Services, et al., the Washington Supreme Court held that no cause of action for wrongful foreclosure exists under the Deed of Trust Act until after a foreclosure sale occurs. Tom Lerner and Chris Graving provide analysis on why this is important to lenders.
The Stokes Lawrence Financial Services attorneys circulate bulletins about new developments in the law that affect creditor remedies. This client update discusses a lender's ability to recover against guarantors following a nonjudicial foreclosure, and the strategic decision confronting lenders in light of inconsistent appellate rulings.