When a borrower defaults on his or her commercial real estate loan in Washington, the bank has a number of options for collecting the debt. Lenders usually secure their real estate loans with deeds of trust, which gives the lender the option to foreclose on the collateral either non-judicially through a Trustee’s Sale, or non-judicially through a judicial foreclosure and subsequent Sheriff’s Sale. In each of those situations the rules governing the borrower’s and guarantor’s continuing liability on the loan after the sale differ.
We regularly update clients about changes in real estate law and on industry trends. This includes briefing clients on legislative proposals in the federal tax, housing and other legal areas affecting their businesses. Staying current enables you to anticipate and prevent legal problems as well as capitalize on new developments.