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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Avoiding deja vu in Georgia Posted by Ward-CA- on March 21, 2002 at 5:35 PM In Reply to: Foreclosure in Georgia posted by Sam on March 21, 2002 at 3:50 PM : In 1997 I lost my home through foreclosure. 4 or 5 months prior to the foreclosure my condo homeowners association had gotten a judgment for past due fees, filed against the property. It's 5 years later and with hard work I have gotten on my feet and own a home in another county (same state). Out of the blue I get this call after 5 years for the whole judgment and threats to shift the judgment over to my current property. On my foreclosed property, I had owned it for 14 years and so the mortgage was considerably less than the value of the property. : I thought that judgments were satisfied at the sale and that this was over and had been paid at the foreclosure sale of the property. Will this judgment follow me forever? : In 1997 I lost my home through foreclosure. 4 or 5 months prior to the foreclosure my condo homeowners association had gotten a judgment for past due fees, filed against the property. It's 5 years later and with hard work I have gotten on my feet and own a home in another county (same state). Out of the blue I get this call after 5 years for the whole judgment and threats to shift the judgment over to my current property. On my foreclosed property, I had owned it for 14 years and so the mortgage was considerably less than the value of the property. : I thought that judgments were satisfied at the sale and that this was over and had been paid at the foreclosure sale of the property. Will this judgment follow me forever? =•=•=•=•=•=•=•=•=•=•= Sam, judgments are usually good for 10 years and can usually be renewed for innumerable additional 10 year terms. A foreclosure auction sale won’t wipe out a involuntary junior lien, such as an abstract of judgment (AJ), that’s established by operation of law. It just wipes it off the title of the affected property. If there aren’t any other properties in the judgment debtor’s name an AJ will just bide its time until the debtor does attempt to go into title, some time in the future. Now you know the value of not holding title to property directly in your name. Put it into a legal, but fictitious entity such as a personal corporation, partnership, LLC, or a title holding trust. A transfer to a trust is extremely fast, cheap, and offers great privacy. Just name the trust after the street the property is on rather than in your name and have someone with a different name than yours as the trustee of the trust. (See link below) Title Holding Trust Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : In 1997 I lost my home through foreclosure. 4 or 5 months prior to the foreclosure my condo homeowners association had gotten a judgment for past due fees, filed against the property. It's 5 years later and with hard work I have gotten on my feet and own a home in another county (same state). Out of the blue I get this call after 5 years for the whole judgment and threats to shift the judgment over to my current property. On my foreclosed property, I had owned it for 14 years and so the mortgage was considerably less than the value of the property. : : I thought that judgments were satisfied at the sale and that this was over and had been paid at the foreclosure sale of the property. Will this judgment follow me forever? : : In 1997 I lost my home through foreclosure. 4 or 5 months prior to the foreclosure my condo homeowners association had gotten a judgment for past due fees, filed against the property. It's 5 years later and with hard work I have gotten on my feet and own a home in another county (same state). Out of the blue I get this call after 5 years for the whole judgment and threats to shift the judgment over to my current property. On my foreclosed property, I had owned it for 14 years and so the mortgage was considerably less than the value of the property. : : I thought that judgments were satisfied at the sale and that this was over and had been paid at the foreclosure sale of the property. Will this judgment follow me forever? : =•=•=•=•=•=•=•=•=•=•= : Sam, judgments are usually good for 10 years and can usually be renewed for innumerable additional 10 year terms. : A foreclosure auction sale won’t wipe out a involuntary junior lien, such as an abstract of judgment (AJ), that’s established by operation of law. It just wipes it off the title of the affected property. If there aren’t any other properties in the judgment debtor’s name an AJ will just bide its time until the debtor does attempt to go into title, some time in the future. : Now you know the value of not holding title to property directly in your name. Put it into a legal, but fictitious entity such as a personal corporation, partnership, LLC, or a title holding trust. A transfer to a trust is extremely fast, cheap, and offers great privacy. Just name the trust after the street the property is on rather than in your name and have someone with a different name than yours as the trustee of the trust. 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