Archive | Creditor’s Rights

Seller financing? Consider a real estate contract

The Washington Legislature created the Deed of Trust Statute in 1967. RCW 61.24 et. seq. As a result, over the next forty years it became common practice to secure seller-financed real estate transactions with a deed of trust and promissory note. Because the Deed of Trust statute created an efficient, practical and timely method for […]

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Foreclosure Fairness Act

Last week, Washington joined two other states (Nevada and Maryland) giving homeowners facing foreclosure the right to third-party mediation. The Act is designed to give homeowners an opportunity to obtain loan modifications necessary to avoid foreclosure. Lawmakers hope that the required mediation will lead to a reduction in the amount of foreclosures as well as […]

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