Posted by Kristine-CA on June 08, 2009 at 11:20:32:
In Reply to: Different laws state to state posted by John Merchant on June 07, 2009 at 22:18:24:
Re DOT and SOL: Don't know about WA state, but I'd be surprised if
there isn't something similar to CA in that the power to sale in a DOT is
preserved, regardless of SOL on the note. In the 1980s in CA, a
marketable title act changed this and put the SOL on the deed of trust
at 10 years after date of maturity of note, or 60 years if date of
maturity cannot be determined. So for the a standard 30 year note, it's
40 years from start of note. That's a long time for an investor to work
with.