Get the dirt on California's Grittiest Real Estate Lending and Foreclosure law blog!

Palo Alto real estate attorney Julia Wei providing commentary & insight into trends in California real estate law & lending law, mortgages & foreclosures.

Entries Tagged as 'Foreclosures'

Why Lenders, Loan Servicers and Trustees Need to Understand the Intengan Case

April 1st, 2013 · No Comments · Foreclosure Defense Lawsuits, Foreclosures, Residential Real Estate, Trust Deeds

 Today my colleague Simon Offord published a short case update in our firm’s monthly newsletter* regarding the case of Intengan v. BAC Home Loans Servicing (March 22, 2013). He writes: “… the 1st District Court of Appeal recently held that a homeowner may pursue a wrongful foreclosure claim against a loan servicer even though the […]

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What You Didn’t Hear About the Fiscal Cliff Vote – Mortgage Debt Relief

January 4th, 2013 · No Comments · California Lending & Mortgage Law, Current Affairs, Foreclosures, Residential Real Estate, Trust Deeds

By Julia M. Wei, Esq. Buried in the New Year’s Day bill was SEC. 202, which extended the Mortgage Debt Forgiveness Relief Act through 2013. Except, the section was cryptically called “EXTENSION OF EXCLUSION FROM GROSS INCOME OF DISCHARGE OF QUALIFIED PRINCIPAL RESIDENCE INDEBTEDNESS.” That means for homeowners who were approved for short sales or […]

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New California Foreclosure Laws for 2013

November 6th, 2012 · 1 Comment · California Lending & Mortgage Law, Foreclosures, Trust Deeds

 In July, I posted a snippet about the “Homeowner’s Bill of Rights” (“HOBR” or “HOBoR”), also known as the California Foreclosure Reduction act. At the firm’s law blog, I later wrote with more specificity about HOBR explaining some of the requirements that have changed about notices to foreclosure sales — such as: Before a Notice […]

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Private Lender Fails to Tighten Up Promissory Note, Loses ~$200K of Interest

September 25th, 2012 · No Comments · California Lending & Mortgage Law, Foreclosures

 By: Julia M. Wei, Esq. Lenders may not be scrutinizing their loan documents as closely as borrowers are these days. Certainly, private lender Hyman Levy had a rude awakening when the appellate court concluded Levy was NOT entitled to default interest when the borrower did not make the balloon payment on a loan of $2.7M. […]

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California Passes “Homeowner Bill of Rights” Legislation

July 2nd, 2012 · No Comments · California Lending & Mortgage Law, Current Affairs, Foreclosures, Residential Real Estate, Trust Deeds

 With much fanfare, the Attorney General’s office announced today the passage of a collection of bills intended to protect homeowners who are attempting a loan modification.   Among the key provisions, the statutes will: -Require creditors to provide documentation to a borrower that establishes the creditor’s right to foreclose on real property prior to recording […]

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Foreclosure Investors: Getting Relief When the Occupant Files for Bankruptcy

May 21st, 2012 · No Comments · Co-Ownership of Real Property, Creditor's Rights in Bankruptcy, Foreclosures, Residential Real Estate

 By: Julia M. Wei, Esq. What happens when you buy a property at a trustee’s sale in California and the borrower files for bankruptcy? Foreclosure Buying and Bankruptcy by: dirtblawg  FORECLOSURE INVESTMENT PROPERTY / BANKRUPTCY Client: Do you remember that investment property I bought at a foreclosure sale? Real Estate Attorney: I think so, was […]

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Bank Buys Worthless Note, Borrower Awarded Attorney Fees Against Bank

April 18th, 2012 · No Comments · California Lending & Mortgage Law, Foreclosures, Trust Deeds

Buying Notes and Deeds of Trusts: Bank Buys Worthless Note, Borrower Awarded Attorney Fees By: Julia M. Wei, Esq. Investors, collection agencies, scavenger funds and institutional lenders buy promissory notes all the time. If the note is secured by a deed of trust against real property, the buyer takes the risk of collection of the […]

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Mortgage Lender Bulletin – Recent Cases in Borrower Lawsuits Signal a Turning of the Tides

January 17th, 2012 · 2 Comments · California Lending & Mortgage Law, Foreclosure Defense Lawsuits, Foreclosures, Trust Deeds

By: Julia M. Wei, Esq. A series of cases have come down in the last few weeks that have some very serious ramifications for lenders. The most dramatic case is that of Lona v. Citibank, based on a property right here in my back yard. The fact pattern in Lona is that the bank foreclosed […]

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Wrong Opening Bid? Tough. Bidder Gets Benefit of Trustee’s Error.

November 3rd, 2011 · No Comments · Foreclosures, Trust Deeds

By Julia M. Wei, Esq. In the recent case of Biancalana v. T.D. Service Company, California foreclosure bidder Biancalana came out the winner on appeal. In September of 2008, Biancalana bid at the trustee’s sale of a property on Winchester Dr. in Watsonville (Santa Cruz County). Lucky for him, the trustee (and possibly the loan […]

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MERS – California shoots down the borrower lawsuits, again.

September 14th, 2011 · No Comments · California Lending & Mortgage Law, Foreclosure Defense Lawsuits, Foreclosures, Trust Deeds

   In other parts of the country, and in bankruptcy court, borrowers have had some success with the argument that since MERS is a “nominee” and “nominee” is not defined in the loan documents, that it does not have standing to initiate foreclosure. That argument has been far less successful in California, in large part […]

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