topic Judgement in Mortgage Loans

Judgement

MOMO30 — Tue, 14 May 2013 23:40:19 GMT

Today I went to the county clerk and I found I owe 2 judgements
For an old apartment from 2006
The clerk gave me the amounts and the lawyer to contact
So I did just that and I was told the account they have has been canceled
And they have no information about a judgement
I then contacted the management company who told me
The building was sold in 2008 and they have no records from 2006

I contacted my lawyer who don't know what to do she advised me to file
A order to vacate. I'm under contract and I know that takes time
I am at a lost as to what to do I'm in BK NY if anybody can help I would appreciate it

Re: Judgement

Anonymous — Wed, 15 May 2013 12:44:02 GMT

(1) talk to your loan officer..... they should be able to advise you. Was satisfaction/release of the judgments a condition of close? I am no expert, but given what you have learned this appears to be something ripe for filing a motion to vacate the judgment - it doesn't sound like anyone will fight your action.

Good luck!

Re: Judgement

MOMO30 — Wed, 15 May 2013 12:53:58 GMT

Thanks It has not been an condition I just don't want any issues my loan officer hasn't said much

Re: Judgement

basballguy — Wed, 15 May 2013 13:05:25 GMT

The title company will probably have an issue with it (maybe). In addition to clearing the property they can and many times will do a records check against the buyer. An open judgment can allow for someone to put a lien on the property.

What kind of loan are you doing? FHA and USDA have judgment requirements that must be met...VA might too.

Re: Judgement

Anonymous — Wed, 15 May 2013 13:10:33 GMT

we had a judgment show up during the title process and we had to get it cleared. the company had to send a release of judgement to the courts, then we had to get a certified copy of the release and file it at our court house then take that to the title company. it was a hassle but its what needed to be done. good luck

Re: Judgement

MOMO30 — Wed, 15 May 2013 13:16:16 GMT

The problem is no one can seem to tell me who owns the judgement the lawyer on file said Its been cancelled when the building was sold in 2008 now I have to find out who brought the building and if they now own the judgement

Re: Judgement

Anonymous — Wed, 15 May 2013 13:20:18 GMT

print out the copy that they have, take it to that company who you might think that owns it.

when we had the judgement out, not even the county had a record of it, well they were not looking deep enough, my husband had to show them a physical copy of the judgement the title company found.

hopefully they overlook it if they cant verify who it is from and get a release

Re: Judgement

MOMO30 — Wed, 15 May 2013 13:26:25 GMT

I don't have a copy of the judgement I have a print out from the clerk at the courts

Re: Judgement

Anonymous — Wed, 15 May 2013 13:35:06 GMT

hopefully it is not an issue but the title company did want our judgments cleared before transferring the title to us. we are going FHA route

Re: Judgement

MOMO30 — Wed, 15 May 2013 13:38:31 GMT

I'm also going FHA I just spoke with my LO who said that we can have the title company hold the money in escrow
Until the 1 I find out who owns the judgement 2 get the judgement vacated

Re: Judgement

MOMO30 — Wed, 15 May 2013 23:40:29 GMT

Just to give an update I ended up call the lawyer office on file back
And I spoke with a young lady who went the extra mile to conference me
In with the management company who managed the property at that time
She explained to them the lawyer office was not the ones who started the judgement
They did and once the owner sold the building they no longer had the case
Yet I still owe a balance and there office can not take the payment

To make a long story short I'm going to pay the management company
And I will be given a letter stating there is no judgement against me and I do not
Owe them any money any longer he will then notify the courts
Thanks to all who replied

Re: Judgement

StartingOver10 — Thu, 16 May 2013 12:37:55 GMT

Just a heads up, make sure that you get the Satisfaction of Judgment recorded in the public records where the judgment is already recorded. That way this can't show up again as an outstanding judgment.

If you don't get the Satisfaction recorded then the judgment won't reflect as paid. The letter from the management company won't work as a Satisfaction, but you should be able to take that letter to the attorney's office and have them prepare and record a Satisfaction.

Re: Judgement

Booner72 — Thu, 16 May 2013 16:56:50 GMT

File a "motion to vacate" form that you can find online.

I actually filled one out and mailed it w/ a letter to a judge in the county. She vacated the judgment for me (it was paid). It was gone pretty quickly.

They can also do a rapid rescore if needed once the judgment is off the CR's.