diemer wei llp san jose

diemer wei llp san jose california

 

408-971-6270

408-971-6270

 

 San Jose Business & Commercial Law Blog

Subscribe to our legal blog for latest news and insights

Why Lenders Should Beware the Full Credit Bid in California

By: Julia M. Wei and Josue Uribe Fonseca

gavelForeclosure filings were initially down nation wide for COVID-related reasons but as we head into fall, those moratoriums are all lifting. That means it’s time to talk about bid instructions to the trustee and why lenders should beware of the full credit bid.

Lenders Lose Rights When They Take a Property Back With a Full Credit Bid.

After the Notice of Default has been recorded, and the borrower fails to reinstate the loan, the foreclosing trustee will ask the beneficiary to provide bidding instructions for the trustee’s sale. The trustee will ask what the opening bid amount is.

Continue reading
  2210 Hits
2210 Hits

California Judicial Council Adopts New Rules to Lower Jail Population, Suspend Evictions and Foreclosures

California Judicial Council Adopts New Rules to Lower Jail Population, Suspend Evictions and Foreclosures

By Julia M. Wei, Esq.

California Judicial Council Adopts New Rules to Lower Jail Population Suspend Evictions and ForeclosuresOn April 6, 2020 by teleconference, the Judicial Council issued 11 temporary rules effective immediately. The full text of the emergency rules here.

As our firm’s earlier update regarding eviction moratoriums noted, there has been movement both on the state and local government level to halt or otherwise slow the progression of evictions due to non-payment of rent for COVID-19 related reasons. The practical implications are that any unlawful detainer must be filed in the courts and now the California Rules of Court emergency rules are in effect as to ALL unlawful detainer actions (whether COVID-19 related or not). My reading of the new rules is that it applies to both commercial and residential eviction.

Continue reading
  1627 Hits
1627 Hits

Santa Clara County Bar AssociationAmerican Inns of CourtCalifornia Women LawyersBay Area Bankruptcy ForumThe State Bar of California