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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] is this accurate? Posted by Kristine-CA on June 24, 2009 at 9:11 AM In Reply to: Re: Citi has to agree a short payoff too. posted by SenecaTrust on June 24, 2009 at 2:23 AM If the property were to go to foreclosure, Citicard is last in line for proceeds...and there would be none. But they are not wiped out as a holder of a judgment. A recorded judgment in CA is good for tens years, and another ten if renewed. Judgement holders don't have to play ball during a short sale. If they are offered a consideration, they may not bite as they can wait until the borrower needs to buy again. : No court order needed. You now have two approvals from the first and second lienholders, just postpone the sale and negotiate a discount with the third lienholder. Explain that you would like to settle the debt or they will be wiped-out if there's a foreclosure and will receive zilch! Follow Ups: Re: is this accurate? JK (the other JK) 10:30 AM, 06/24/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : If the property were to go to foreclosure, Citicard is last in line for proceeds...and there would be none. But they are not wiped out as a holder of a judgment. A recorded judgment in CA is good for tens years, and another ten if renewed. Judgement holders don't have to play ball during a short sale. If they are offered a consideration, they may not bite as they can wait until the borrower needs to buy again. : : No court order needed. You now have two approvals from the first and second lienholders, just postpone the sale and negotiate a discount with the third lienholder. Explain that you would like to settle the debt or they will be wiped-out if there's a foreclosure and will receive zilch! [ 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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