In Washington, its up to the lender how he wants to proceed, regardless of "purchase money" vs. "non-purchase money"- he can foreclose through the courts (which virtually nobody does) and get a deficiency judgment, or non-judicially and be limited to return of the property as his only remedy.
I've often thought that the big lenders should retain somebody locally to look for other assets, before deciding which way to go- many borrowers back in the hey-day had other assets, so should have been foreclosed judicially with a deficiency judgment- but lenders apparently ignored that possibility, and forged onward with a non-judicial foreclosure. Seems to me that you might want to fork out 5 grand for a judicial foreclosure, if you're going to take a 100 grand bath on a non-judicial and the borrower has other assets.
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Today's Featured Article - Timing Your Magneto Ignition Tractor - by Chris Pratt. If you have done major engine work or restored your tractor, chances are you removed the magneto and spark plug wires and eventually reached the point where you had to put it all back together and make it run. On our first cosmetic restoration, not having a manual, we carefully marked the wires, taped the magneto in the position it came off, and were careful not to turn the engine over while we had these components off. We thought we could get by with this since the engine ran perfectly and would not need any internal work. After the cleanup and painting was done, we began reassembly and finally came to t
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