CA – Single Lender Making Two Nonpurchase Money Loans Assigns Junior Loan; Junior Loan Can Pursue Money Judgment.

28 Jul

From: Charles Cox [mailto:charles@bayliving.com]
Sent: Thursday, June 21, 2012 9:15 AM
To: Charles Cox
Subject: CA – Single Lender Making Two Nonpurchase Money Loans Assigns Junior Loan; Junior Loan Can Pursue Money Judgment.

When a single lender contemporaneously makes two nonpurchase money loans secured by two deeds of trust referencing a single real property and soon thereafter assigns the junior loan to a different entity, the assignee of the junior loan, who is subsequently "sold out" by the senior lienholder’s nonjudicial foreclosure sale, can pursue the borrower for a money judgment in the amount of the debt owed. Trial court’s grant of summary judgment to defendant is reversed.

Cadlerock Joint Venture v Lobel.docx

One Response to “CA – Single Lender Making Two Nonpurchase Money Loans Assigns Junior Loan; Junior Loan Can Pursue Money Judgment.”

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  1. CA – Single Lender Making Two Nonpurchase Money Loans Assigns | Born To Share - July 28, 2012

    […] Securities Exchange Commission 100 F Street, N.E. Washington, D.C. Originally posted here: CA – Single Lender Making Two Nonpurchase Money Loans Assigns hopfeed_template=''; hopfeed_align='left'; hopfeed_type='IFRAME'; hopfeed_affiliate_tid=''; […]

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