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Lenders May Foreclose a Deed of Trust Without Accelerating the Underlying Debt

Debt Acceleration Generally Commercial and residential loan documents typically give the lender the option of accelerating the debt following an event of default.  In other words, if the borrower fails to pay, or if some other event of default occurs, and that default continues uncured for a specified amount of time, then the lender may declare the entire loan balance … Continue reading »

Deeds of Trust Securing Agricultural Land Must Be Foreclosed Judicially, Not by Trustee's Sale

Washington law generally permits deeds of trust to be foreclosed upon by non-judicial trustee’s sale. This provides secured creditors with a faster and generally less expensive alternative to judicial foreclosure. Washington law affords debtors additional protections where a creditor elects to proceed with a trustee’s sale instead of judicial foreclosure. Most commonly, Washington law limits the extent to which a … Continue reading »

Enforcing Foreign Judgments in Washington State

Like most states, Washington has adopted the Uniform Enforcement of Foreign Judgments Act or UEFJA. The UEFJA permits a person or entity to enforce a judgment against a person or property located in Washington based on a judgement issued in another state. (For purposes of the UEFJA, judgments from another state are referred to as “foreign.”) The UEFJA is codified … Continue reading »