InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Fraud Judgment Posted by Cary on July 11, 2003 at 1:15 PM Ward, Since you are an all-knowing real estate entrepreneur, I was wondering if you can answer a trivia question on fraud judgments that have attached onto a house. From what the debtor has told me, she says that fraud judgments are wiped off and cannot be collected after 20 years. She also tells me that the creditor on this fraud judgment can do a forced sale if there is at least $50K in equity in the house. Do you know if those rules are specific to her judgment per the documents, or is that an overall fraud judgment rule? Do you know where I can learn more about this topic? Now assuming that the above is correct, the house will not appreciate beyond $50K in equity, and she would like to lease the house out until the 20 years expires, do you know if that would trigger the forced sale since the debtor is no longer the primary occupant? Thanks for your help. Cary Follow Ups: Dealing with judgments... Ward-CA- 9:03 AM, 07/14/03 (1) Re: Dealing with judgments... Cary 4:18 PM, 07/29/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : Since you are an all-knowing real estate entrepreneur, I was wondering if you can answer a trivia question on fraud judgments that have attached onto a house. : From what the debtor has told me, she says that fraud judgments are wiped off and cannot be collected after 20 years. She also tells me that the creditor on this fraud judgment can do a forced sale if there is at least $50K in equity in the house. Do you know if those rules are specific to her judgment per the documents, or is that an overall fraud judgment rule? Do you know where I can learn more about this topic? : Now assuming that the above is correct, the house will not appreciate beyond $50K in equity, and she would like to lease the house out until the 20 years expires, do you know if that would trigger the forced sale since the debtor is no longer the primary occupant? : Thanks for your help. : Cary Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455