Rod B. Tuazon

Seasoned Professional and Entrepreneur with over 30 years of combined experience in Law; Real Estate, Leasing, Finance, Mortgage, and Property Management; Property/Casualty/Health/Life/Disability Insurance; Premium Audit; Worker's Compensation Underwriting and Risk Management; General Management; Financial Planning/Analysis; and Taxation.

Washington University in St. Louis

LL.M. (2021) | Taxation

2020 - 2021

The Colleges of Law

J.D. (2019)

2015 - 2019

Regis University

MBA | Business Administration

2001 - 2003

State Bar of California  # 338278

Member

Current

Q. I am in foreclosure but my bank will not accept the payoff.

July 19, 2023

A: There are not enough facts in your question to provide you with a specific response. But assuming the property is in California and the foreclosure is non-judicial (trustee sale), which is common in the state, you have the right of redemption before a foreclosure sale. Your right to redeem ends when your property is foreclosed.

You also did not indicate the foreclosure date, but it’s best to take appropriate action early on when you have more options to work with, such as reinstating the loan, loan modification, repayment plan, forbearance, etc. In your case, payoff, which generally requires you to pay the remaining balance, including other fees and costs should be requested in advance as the lender must receive your payment well before the foreclosure sale date.

You did not indicate why the bank did not accept your payoff, as the bank would rather accept your payment than going through with the foreclosure. If you did not remit the full payment, the bank may have rejected your payment. If you have a dispute as to the payoff amount, delaying it will not stop the foreclosure. So it would be best to work on any dispute, if any, while you have time. ... Read More

Q. How can I find a lost insurance policy

July 6, 2022

A: Assuming you are referring to a lost life insurance policy, the answer depends on whether you are the policy owner or a beneficiary of the life insurance policy.

If you are the policy owner and you know the insurance company and the policy number (or social security number), you may simply call the toll free number and ask for a “Statement of Insurance Coverage” or any similar term issued by the insurance company in lieu of a lost or misplaced policy. The statement shows the named insured, policy number, issue date, policy owner, death benefit amount, beneficiaries, and other pertinent policy information. I must warn you that the insurance company will generally communicate only with the policy owner (usually the named insured) unless the named insured or policy owner is no longer alive.

If you are the beneficiary of a lost insurance policy, the existence of a policy is generally not a requirement to file a claim. If you know the insurance company, just call the toll free number, and ask for instructions. Procedurally, this involves filing a lost policy form with your claim, in addition to attaching the death certificate of the named insured.

If you have no idea who the insurance carrier is, you may have a tough time tracing that lost insurance policy. ... Read More

Q. Can an HOA stop me from staying in the house I inherited from my mother who passed away?

May 10, 2022

A: I believe the HOA may be correct. The Fair Housing Act exempts communities intended for people 55-62 or older to discriminate based on familial status. It appears that your mother’s trailer park caters only to residents who are over 60 years old. You have two options: either (1) find someone you can trust and is over 60 years old to be on title, which the HOA suggested OR (2) sell the property and move to a place where there are no restrictions.