Boeing Employees' Credit Union v. Burns

¶1 Entry of a judgment on a promissory note does not extinguish the lien of a security interest in real property that secures that note. And the homestead exemption is unavailable for debts secured by deeds of trust that have been executed and acknowledged by the owners of the encumbered premises.

¶2 Here, Boeing Employees’ Credit Union (BECU) is the holder of a subordinate deed of trust for property sold at a trustee’s sale at the direction of Wells Fargo Bank, the holder of a senior deed of trust. The lien of the BECU deed of trust against the real property sold at this trustee’s sale was…