Home Selling in Galloway>Question Details

Sue, Both Buyer and Seller in Hilliard, OH

I have finally received approval from my lender for a short sale. I have another hurdle now...we have a

Asked by Sue, Hilliard, OH Tue Aug 5, 2008

judgement against the property for $25,000 in my mother and deceased father's name (he died 9 years ago) and my mother is currently on our deed but not the loan. We don't think it is hers or his but never the less we have to resolve it before closing. Does anyone have any experience with a junior lien such as this and what is the probability they will settle for only $2500 and also another note of interest both the mortgage and the lien are with the same financial institution...Citi. If this doesn't go through we will most likely be in a foreclosure and no one will get anything. If you can offer any insight or advice let me know. Also is it possibly to have a promissory note on the judgement in order to close the short sale? Thanks for all your advice.

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6
Sue,U say 9 yrs on the 25k( poss could get dropped) I work closely w/a great and fair probate Atty,where these past issues come up, down from my office,plus my Title person is R/E. Atty call me for there # and you will have peace of mind.Hope to resolve your problem soon.

Regards;

TJ
Web Reference: http://tjroberts.remax.com
1 vote Thank Flag Link Wed Aug 6, 2008
You can do what you are thinking and is likely they will take the "deal"... if you have someone helping you negotiate for you, a real estate agent? Is there?

My thought would be to take the week for so and get the title company or your attorney to work this out... if you dont think it is either or their debt why would you settle?
1 vote Thank Flag Link Tue Aug 5, 2008
I am so sorry Sue you are going thru all of this. I know times are tough, and it doesn't sound like you have a ton of discretionary cash, but I'd do my best to consult with a Real Estate attorney on this one. There are some free legal forums online. Realtors are great, I've been one for 7 years now but I'd be hesitant as a Realtor to try and sort that mess out and give you good solid advice. Try an attorney for the BEST info out there. Good luck to you and your family.
1 vote Thank Flag Link Tue Aug 5, 2008
Hi Sue, I hope you were able to work out your short sale and the situation with the Judgment which you thought was not your mom's. If it was with a large financial company, they would be able to confirm the true defendant on the judgment by confirming the social security number on the account.
Antoinette
Web Reference: http://www.BuyorSellnj.com
0 votes Thank Flag Link Mon Jan 5, 2009
Hi Sue, I hope you were able to work out your short sale and the situation with the Judgment which you thought was not your mom's. If it was with a large financial company, they would be able to confirm the true defendant on the judgment by confirming the social security number on the account.
Antoinette
Web Reference: http://www.BuyorSellnj.com
0 votes Thank Flag Link Mon Jan 5, 2009
Hi Sue, I hope you were able to work out your short sale and the situation with the Judgment which you thought was not your mom's. If it was with a large financial company, they would be able to confirm the true defendant on the judgment by confirming the social security number on the account.
Antoinette
Web Reference: http://www.BuyorSellnj.com
0 votes Thank Flag Link Mon Jan 5, 2009
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