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Douglas Charles Michie

Douglas Michie’s Legal Guides

6 total

  • Post Foreclosure - Setting Aside the Trustee's Sale

    There are two kinds of sales that can be attacked by the debtor: void sales and voidable sales. A void sale creates no presumptions in favor of the purchaser at a trustees sale. And recitals in a trustees deed regarding notices are irrelevant when the sale is void. See, Bank of ...

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  • No More Short Sale Deficiency Judgements

    Effective Immediately - if the second lender agrees to a short sale, that is the end of the debt! In the past, the second lender wouldget a small partial payment for agreeing to the short sale. Later, after the home was sold, the second lender would them begin collection on the r...

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  • Purchase Money Loan Means NO Deficiency Upon Foreclosure

    In California, and several other of the anti-deficiency states, Purchase money loans have special protections. If a foreclosure occurs, the lender cannot pursue the homeowner for the deficiency. Since 1st lenders universally foreclose by trustee sale, they cannot pursue a defi...

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  • Why are you paying your second - stop it!

    Several times a week I assist a homeowner that is under water. They have stopped paying their first, and they are still paying their second. I don't get it! If you don't even have the equity to cover the first, why are you paying the second? The second will not foreclose unde...

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  • The dangers of the transmutation of separate property to community property

    it is possible to change the state of community property to separate property, although there are reasons that you should be careful about making this decision.

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  • Eliminate Second Loans on Residential Property

    Determine if the Second Loan is a Purchase Money Loan This is the EASY part! Look at the closing escrow paperwork for the purchase of your property. It will list all the loans that were taken out a

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