Workouts and Foreclosure - Lender: Judicial and Non-Judicial Foreclosure
Allen Matkins assists clients in all aspects of the judicial and non-judicial foreclosure practice, including advising on California’s one action/anti-deficiency issues, attending foreclosure sales, and assisting with the preparation of credit bids.
The foreclosure of a deed of trust or mortgage results in the lender, or the lender’s designee, owning title to the applicable collateral. Prior to closing the loan, the lender will have completed detailed due diligence with respect to the property. Because some, if not many, aspects of that due diligence may have changed between the time of loan closing and foreclosure, it is important that the lender update due diligence and understanding of the real property collateral before foreclosing.
Our attorneys represent our lender clients in all aspects of pre-foreclosure due diligence, including:
- Reviewing title and survey
- Reviewing and analyzing leases
- Confirming compliance with applicable zoning and land use laws
- Ensuring compliance with environmental laws and verifying that the condition of the subject property complies with those laws
We also provide advice and assistance with respect to the activities of the lender following the foreclosure, such as leasing the property, preparing the property for sale and selling the property.