Without evidence of an intent to accelerate, merely recording a notice of trustee’s sale does not accelerate a debt. Bridges v. Nationstar Mortgage LLC , 1 CA-CV 19-0556, 1/14/21., A note and deed of trust contained an acceleration clause granting the lender the power to accelerate the debt upon the borrower’s default. When a creditor has the power to accelerate a debt, the six-year statute of limitations begins to run on the date the creditor exercises that power. To exercise its option to accelerate a debt, the creditor must undertake some affirmative act to make clear to the debtor it has accelerated the obligation. Merely recording a notice of trustee’s sale, without reference to acceleration, is insufficient notice and does not trigger the statute of limitations.

FAQs Archive

PRIORITIES FOR COLLECTING DEFICIENCY

Arizona Revised Statutes, Section 12-1566(D), requires a creditor collecting on [...]

By Diane Drain|2022-08-29T15:42:08-07:00August 29th, 2022|AZ Judicial Foreclosure|Comments Off

CAN THE BORROWER WAIVE THEIR ANTI-DEFICIENCY PROTECTION?

Can Borrower Waive Anti-deficiency Protection? No, as determined in Parkway v. Zivkovic, [...]

By Diane Drain|2022-08-29T15:31:27-07:00August 29th, 2022|AZ Judicial Foreclosure|Comments Off

VA RESIDENTIAL LOANS AND DEFICIENCY

VA Loans: DEFICIENCY allowed. Connelly v.J Dervinski, 961 F.2d 129 (9th [...]

By Diane Drain|2022-08-29T15:28:52-07:00August 29th, 2022|AZ Judicial Foreclosure|Comments Off

REDEMPTION RIGHTS AFTER A JUDICIAL FORECLOSURE, NOT PERMITTED AFTER A TRUSTEE’S SALE

NOTE: REDEMPTION RIGHTS AFTER A JUDICIAL FORECLOSURE, NOT PERMITTED AFTER [...]

By Diane Drain|2022-08-29T15:25:30-07:00August 29th, 2022|AZ Judicial Foreclosure|Comments Off

ANTI-DEFICIENCY PROTECTION & PURCHASE MONEY DEBT

Helvetica Servicing Inc. v. Pasquan Arizona Supreme Court, 8/25/20 (the 5th [...]

By Diane Drain|2022-08-29T15:23:06-07:00August 29th, 2022|AZ Judicial Foreclosure|Comments Off

WAIVING SECURITY & SUING ON THE PROMISSORY NOTE – ARIZONA SPECIFIC

Resolution Trust Corp. v. Segel, 173 Ariz. 42, 839 P.2d [...]

By Diane Drain|2022-08-29T15:18:46-07:00August 29th, 2022|AZ Judicial Foreclosure|Comments Off

MORTGAGE DEFICIENCIES

If the loan document is a mortgage, the next few [...]

By Diane Drain|2022-09-21T10:55:57-07:00August 29th, 2022|AZ Judicial Foreclosure|Comments Off

REVOCATION OF ACCELERATION & STATUTE OF LIMITATIONS – BUYER

Miller Designs v. US Bank et al. CA-CV 16-0723, 244 Ariz. [...]

By Diane Drain|2022-08-29T15:06:39-07:00August 29th, 2022|AZ Judicial Foreclosure|Comments Off

ACCELERATION OF DEBT

Without evidence of an intent to accelerate, merely recording a [...]

By Diane Drain|2022-08-29T15:03:48-07:00August 29th, 2022|AZ Judicial Foreclosure|Comments Off

REDEMPTION and JUNIOR LIENHOLDERS

Helvetica Servicing Inc. v. Giraudo, 1 CA-CV 15-0490 2/9/17 The [...]

By Diane Drain|2022-08-29T16:05:21-07:00August 29th, 2022|AZ Judicial Foreclosure|Comments Off

Diane L. Drain | Arizona Bankruptcy Lawyer

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