Re: Deceased lender

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Posted by Kristine-CA on June 07, 2009 at 20:06:16:

In Reply to: Re: Deceased lender posted by John Merchant on June 07, 2009 at 08:51:49:

John Merchant: is it your understanding that the SOL applies to notes
secured by deeds of trust? Because that's not my understanding nor
my experience as a former bene who foreclosed on note that was well
past the SOL for notes in CA. The power to sale in the deed of trust
remains. I think there is ample case law for that here in CA.

As for your letter from the heirs to the note: my experience with heirs
says that they were most likely real benes, but that there were pieces
and players missing. Like when some heirs want to leave out others.
After attorneys explain how all heirs and possible benes need to be
notified, how long it's going to take, AND that they will require a
retainer....the heirs just go away.

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