Assume that the borrower under a deed of trust fails to timely make the monthly installment payment under a commercial loan secured by an apartment building. In the last few months, several of the apartment tenants, all of them renting on a month-to-month basis, gave notice and left the building. The borrower was unable to make the monthly mortgage loan payment for the current month (assume these facts occur in a time where society is not facing a pandemic). Assume you represent the lender, Bender Bank, whose representative has come to see you before initiating any foreclosure action. The lender tells you that it believes the borrower is not a prudent property manager and that (based on its social media research under the apartment name) there are several disgruntled tenants still at the property who are upset with the lack of pest/rodent control and maintenance at the property. Discuss the strategies you would pursue to serve your lender client's interests. What additional facts would you need to determine? What provisions in the loan documents would you look for and then scrutinize, and why? What statutory provisions in your jurisdiction would you look for and then scrutinize, and why? What judicial doctrine(s) might concern you and why?

Assume now that Bender Bank from Question 1 is able to successfully complete a foreclosure sale of the borrower's property. Bender Bank acquired the property by a credit bid for the full amount of its loan balance, $1.5 million dollars. Assume that the borrower believes the property was actually worth $3 million at the time of the foreclosure sale. What, if anything, can the borrower do now that the foreclosure sale has been completed?