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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: one more question Posted by Verve on June 22, 2010 at 10:18 PM In Reply to: one more question posted by Don Paris on June 21, 2010 at 9:42 PM Don, The lenders don't check anything. The title company that'll be insuring the transaction will be checking the general index in that county's Recorders office. The AJ automatically attaches to name and will automatically attach to any properties acquired in that name, hence, the lender will ask that the AJ be paid off as a condition to funding of the loan. An AJ has incredible teeth and you can use it to enforce your judgment even if your defendant never acquires property in the future. It's a small fee to record and just in case you weren't aware it also collects 10% interest while it is in existence. Good luck... : Hi Ward, : Thank you for the answers! I have one more question. The reason that the ex-owner can't buy a house in the future without paying me is because AJ will show up in his credit report? or because lenders will check AJ in his local county file? In order words, how does lender know that there is an AJ against the borrower? : Thank you! : DOn : : Don, : : I'd suggest you tell your attorney you want to be named as the judgment creditor on the recorded abstract of judgment and have it refer to your contact information too. That way any payoff inquiries will be made directly to you without any further collection fees being charged by your attorney whenever the judgment is ever paid off. : : And if the recorded abstract of judgment isn't paid by the ninth year then it's a simple step to renew it at the court clerk's office and record the renewal for another 10 years. : : ----------Ward : : ================ : : : : : After the eviction, we got a judgment for ex-owner's holdover rental about $4,000. Our attorney said he can record an Abstract Judgment for us for a fee. Does it worth to do it? In other way, is there a chance or situations in the future that we will be paid? : : : Thanks in advacne! : : : Don Follow Ups: Re: one more question K-Rob 11:44 AM, 06/23/10 (1) Until the judgment is paid or expires... Ward-CA- 9:22 PM, 06/23/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Don, : The lenders don't check anything. The title company that'll be insuring the transaction will be checking the general index in that county's Recorders office. The AJ automatically attaches to name and will automatically attach to any properties acquired in that name, hence, the lender will ask that the AJ be paid off as a condition to funding of the loan. An AJ has incredible teeth and you can use it to enforce your judgment even if your defendant never acquires property in the future. It's a small fee to record and just in case you weren't aware it also collects 10% interest while it is in existence. Good luck... : : Hi Ward, : : Thank you for the answers! I have one more question. The reason that the ex-owner can't buy a house in the future without paying me is because AJ will show up in his credit report? or because lenders will check AJ in his local county file? In order words, how does lender know that there is an AJ against the borrower? : : Thank you! : : DOn : : : Don, : : : I'd suggest you tell your attorney you want to be named as the judgment creditor on the recorded abstract of judgment and have it refer to your contact information too. That way any payoff inquiries will be made directly to you without any further collection fees being charged by your attorney whenever the judgment is ever paid off. : : : And if the recorded abstract of judgment isn't paid by the ninth year then it's a simple step to renew it at the court clerk's office and record the renewal for another 10 years. : : : ----------Ward : : : ================ : : : : : : : After the eviction, we got a judgment for ex-owner's holdover rental about $4,000. Our attorney said he can record an Abstract Judgment for us for a fee. Does it worth to do it? In other way, is there a chance or situations in the future that we will be paid? : : : : Thanks in advacne! : : : : Don [ 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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