Legal Question in Credit and Debt Law in California

Re: Loaned money with deed of trust as collateral

Foreclosure on the property against which the deed of trust is recorded would seem to be your option. Feel free to contact me if you would like to discuss this further.

Re: Loaned money with deed of trust as collateral

Your best option is to start foreclosure on the property. You should have an attorney review the payment history, promissory note and deed of trust to see if nonjudicial foreclosure is a viable option for you.

Nonjudicial foreclosure is quicker and less expensive than a judicial foreclosure. Howeever, it would also mean you would be waiving any deficiency that might result from the sale. Judicial foreclosure is a foreclosure lawsuit that could result in a money judgment if there is a deficiency.

I have handled both types of foreclosures, so feel free to call me if you wish to discuss this matter further.

Re: Loaned money with deed of trust as collateral

A foreclosure can be filed. Please call us if you have any other questions.