Wishengrad v. Carrington Mortg. Servs.

Summary

The Nevada Supreme Court affirmed summary judgment and dismissal in favor of the loan servicer and foreclosure trustee. It held that the borrowers’ HELOC was both a negotiable instrument and a promissory note because it required repayment of a fixed debt after a closed draw period and had a definite maturity date. The court also held that the trust-held residence was owner-occupied, but found the district court’s contrary determination harmless because the respondents substantially complied with the applicable foreclosure notice requirements and were entitled to foreclose. The court rejected the borrowers’ remaining claims, including their IIED and slander-of-title claims.