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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] NO (nt) Posted by JK (the other JK) on June 23, 2009 at 1:38 PM In Reply to: Urgent help with Short sale and judgement needed! posted by NewbieSue on June 23, 2009 at 1:06 PM : Question for all short-sale gurus here: We are in the middle of a short sale purchase due to close in the next 20 days with two lenders on title, we are the buyers. The listing broker finaly got both lenders' approvals. In the last minute a judgement lien from unsecured credit card (Citi) showed up for $38,000 on the property title, which will now screw up the sale. I guess, the seller had a credit card, Citi went to court and got a judgement and now recorded it in the last couple of weeks (thank God, title company picked it up prior to close of escrow) : Is there a way to get an emergency court order to remove the lien from the property in order to allow the sale to proceed considering that the two secured loan balances are close to $1,000,000 and the short sale amount is $700,000, there is no way this judgement from an unsecured creditor would get anything anyway? The judgement accomplishes nothing for Citi, but creates a headache and confusion in a transaction. : Seller's BK is the next option, of course, but then it will delay the short sale process by anywhere from 2 to 5 months. NOD has been filed already, so time is of the essence. The property is in California. : Thanks for any advice!! : S Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Question for all short-sale gurus here: We are in the middle of a short sale purchase due to close in the next 20 days with two lenders on title, we are the buyers. The listing broker finaly got both lenders' approvals. In the last minute a judgement lien from unsecured credit card (Citi) showed up for $38,000 on the property title, which will now screw up the sale. I guess, the seller had a credit card, Citi went to court and got a judgement and now recorded it in the last couple of weeks (thank God, title company picked it up prior to close of escrow) : : Is there a way to get an emergency court order to remove the lien from the property in order to allow the sale to proceed considering that the two secured loan balances are close to $1,000,000 and the short sale amount is $700,000, there is no way this judgement from an unsecured creditor would get anything anyway? The judgement accomplishes nothing for Citi, but creates a headache and confusion in a transaction. : : Seller's BK is the next option, of course, but then it will delay the short sale process by anywhere from 2 to 5 months. NOD has been filed already, so time is of the essence. The property is in California. : : Thanks for any advice!! : : S [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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