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Foreclosure Forum |
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Make an offer and see...In Reply to: credit card judgments posted by jenv on March 30, 2004 at 4:14 AM : I was thinking about buying one that I am certain is about to get a foreclosure notice from the 1st. It was created pursuant to a divorce (order to pay marital debt). Are CC companies generally willing to deal? Does the NOD make them more motivated to deal (might get wiped out) or less motivated (they might get paid, since as things are right now they can't foreclose due to homestead protection)? =========== Jenv, The foreclosure of a senior lien won't wipe out a junior, abstract of judgment (AJ). The most a foreclosure can do is wipe off the AJ from the title of the foreclosed property. It's hard to speculate whether a judgment creditor will sell their judgment or not. I suppose it depends on their priority position, the age of the judgment, etc. You won't really know what they will do until you make them an offer. Hope this helps. Follow Ups: Post a Followup:
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