Legal Question in Real Estate Law in California

collection of note secured by deed of trust

I have 2 notes secured by a deed of trust dated in 1982. The notes are for $114,000/$22,300. I have not received any payment on these notes. Can I get any of this money back? One note was secured by property foreclosed on by Wells Fargo Bank. The Personal Note for $114k has ''good only in the event of loss of security''. What is a ''FULL RECONVEYANCE''? I don't know anything about why the person who signed these notes should not be responsible for paying the money back. Have I waited to long? Can you help me?


Asked on 7/26/04, 4:41 pm

5 Answers from Attorneys

Larry Rothman Larry Rothman & Associates

Re: collection of note secured by deed of trust

The deeds of trust are probably valid, but they would have to be non-judicially foreclosed upon. Full reconveyance means that they were paid off in full. Please contact my office at 714 363 0220 to set up an appointment. I would like to review your written documentation including any letters. We handle cases throughout California. We can review your documentation by fax and speak with you by phone.

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Answered on 7/31/04, 8:53 pm
Christopher M. Brainard, Esq. C. M. Brainard & Associates - (310) 266-4115

Re: collection of note secured by deed of trust

You may contact me.

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Answered on 7/28/04, 11:21 pm
Ken Koenen Koenen & Tokunaga, P.C.

Re: collection of note secured by deed of trust

Wen did Wells Fargo foreclose. You may have waited too long.

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Answered on 7/26/04, 4:57 pm

Re: collection of note secured by deed of trust

Full Reconveyance means the trustee has reconveyed to the trustor the deed (i.e. the lien has been released). You need to have an attorney review the applicable documents to see if foreclosure and/or a suit against the maker is still an option.

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Answered on 7/26/04, 5:19 pm
Michael Olden Law Offices of Michael A. Olden

Re: collection of note secured by deed of trust

Your question is ambiguous as hell. Are these notes on one single property. How long ago did Wells Fargo foreclose on its notes. Yes, you've probably lost all claim to the security interest in that note. Now why have two notes and not one. More importantly, what you mean by a personal note. And since it is the larger of the two what does "good only in the event of loss of security" mean. This whole situation is all screwed up so you don't really want to know what a full reconveyance is you Wanna know how you came get payment of $136,300. The first thing you have to do is take all of your paperwork and go see an attorney. Don't sit at a computer see a real estate attorney to see if anything can be done in this situation where he/she can ask you questions and hopefully get real live answers that may be able to help you. Can I help you possibly,I have been practicing law in the San Francisco Bay area for approximately 35 years and expert in the area in the category in which your question is placed. I feel I can help you in this matter and if you wish to consult with me please contact me at 925-945- 6000.

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Answered on 7/26/04, 5:29 pm


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