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I am trying to help a friend with a situation because she wanted to purchase a home in the near future. I tried to get all the specifics and do not feel very knowledgable regarding this, so I thought I would ask here. This is all happening in Delaware.
Unfortunately, an old landlord placed a levy against any property she may have to the tune of $16,000. She said because the landlord chose this option, the landlord cannot levy her bank account or garnish her wages. The sheriff did arrive to take an "inventory." She currently rents a house and does not have much in the way of property. She mentioned something about her them taking her car, but she is currently paying it off. It is relatively new, so she is still pretty deep into the loan. She said she thinks the landlord can take the car and she would still have to continue to pay the loan. This is the only thing holding her back. Credit report is nearly impeccable after credit repair.
Does anybody know if a bank will issue a mortgage with a property levy against her? I'm sure it's probably no, but just thought I would ask.
Thanks!
Im pretty sure its no the lien/levy would have to be satisfied first.
I think she is a bit confused as to the state of their actions.
It appears that the landlord has a jugment, and is pursuing a request to the court to levy (take) the vehicle. It does not appear that they yet have any writ by the court to levy the property.
What did the sheriff tell her? That they were inventorying assets in preparation for a decision on a request to levy property?
The bank already has a principle lien on the vehicle, so not much gravy in that bowl should the vehicle be ordered to be levied by the court.
The judgment landlord can also, should she obtain a mortgage, record a judgment lien.
That will definately be a factor in an applcation for a mortgage.