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 ] Re: Yes, judgments are foreclosable... Posted by Craig in LA on March 25, 2004 at 9:00 PM In Reply to: Yes, judgments are foreclosable... posted by Ward-CA- on March 23, 2004 at 4:28 PM : : Once it's recorded, the judgement clouds title. But is it foreclosable? Buying a judgment without ability to force payment seems foolish. How does homestead protect a home's equity against an involuntary lien like a judgment? : =================== : Jenv, : A general lien, like a judgment, can be foreclosed against judicially. Since it's a judicial process it takes longer (about 1 year), requires an attorney, and gives rise to a post-sale right of redemption for 3 or 12 months, depending upon the existence of a post-sale deficiency. : A homestead is a temporary bar to the progress of a judicial foreclosure until the judgment creditor can succeed at the homestead hearing in showing that the fair market value (FMR) of the subject property exceeds all voluntary and involuntary liens plus the applicable homestead exemption amount. : In this explosive seller's market that's not too high a barrier for too long for most judgments I will be starting the judicial foreclosure process on an individual who owes one of my clients lots of money starting next month. I will post how it goes from time to time. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : Once it's recorded, the judgement clouds title. But is it foreclosable? Buying a judgment without ability to force payment seems foolish. How does homestead protect a home's equity against an involuntary lien like a judgment? : : =================== : : Jenv, : : A general lien, like a judgment, can be foreclosed against judicially. Since it's a judicial process it takes longer (about 1 year), requires an attorney, and gives rise to a post-sale right of redemption for 3 or 12 months, depending upon the existence of a post-sale deficiency. : : A homestead is a temporary bar to the progress of a judicial foreclosure until the judgment creditor can succeed at the homestead hearing in showing that the fair market value (FMR) of the subject property exceeds all voluntary and involuntary liens plus the applicable homestead exemption amount. : : In this explosive seller's market that's not too high a barrier for too long for most judgments : I will be starting the judicial foreclosure process on an individual who owes one of my clients lots of money starting next month. I will post how it goes from time to time. 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. Read our privacy policy.

Copyright © 1997-2004, 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