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.
Creditors are faced with an array of options when a borrower defaults, based upon the nature, quality and value of collateral and other factors. This "Loan Default Decision Tree" is a tool that provides structure for making choices as to how to proceed.
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