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Can a real estate judgment be recorded against your interest in property if you are not on the mortgage but on the deed?
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∙ 13y ago
Yes.
Wiki User
∙ 13y ago
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Can a creditor place a lien on your personal residence in the state of Colorado?
Yes. First they must sue you in court and obtain a judgment in their favor. If the win they can request a judgment lien that can be recorded in the land records. You cannot sell or mortgage the property until the lien is paid and the amount due will grow with court costs and continuous interest added on. In Massachusetts the interest rate is 12%.Yes. First they must sue you in court and obtain a judgment in their favor. If the win they can request a judgment lien that can be recorded in the land records. You cannot sell or mortgage the property until the lien is paid and the amount due will grow with court costs and continuous interest added on. In Massachusetts the interest rate is 12%.Yes. First they must sue you in court and obtain a judgment in their favor. If the win they can request a judgment lien that can be recorded in the land records. You cannot sell or mortgage the property until the lien is paid and the amount due will grow with court costs and continuous interest added on. In Massachusetts the interest rate is 12%.Yes. First they must sue you in court and obtain a judgment in their favor. If the win they can request a judgment lien that can be recorded in the land records. You cannot sell or mortgage the property until the lien is paid and the amount due will grow with court costs and continuous interest added on. In Massachusetts the interest rate is 12%.
What is discharge of mortgage?
A mortgage grants an interest in the real estate to the lender. Once it is paid in full, a mortgage discharge must be recorded in the land records. A recorded mortgage discharge certifies that the mortgage has been satisfied and releases the interest of the lender in the property and thereby clears the title.
What happens to the mortgage loan when bought on a tax deed sale who is responsible or will the bank put a lien on the property?
A mortgage IS a lien on the property. The bank already has an interest in the property that was perfected as soon as the mortgage was recorded in the land records. If you purchase property that is subject to a mortgage, the mortgage must be paid or the bank will take possession of the property by foreclosure.
What is an unreleased mortgage?
An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.An unreleased mortgage is a mortgage against a property that has been recorded in the land records for which no discharge has been recorded. In other words, it is still an outstanding lien against the property. The property cannot be sold until the mortgage is discharged.
How does an abstract of judgment affect you?
An abstract of judgment is a document produced by a court that describes the judgment rendered in a case. If you own real property it can be recorded in the land records and will become a lien against your property. You cannot sell or mortgage the property until the judgment lien is paid. Interest will accrue at a statutory rate until then. If the creditor can locate any bank or investment accounts that you own the judgment can be served on the institutions and your accounts will be frozen until the judgment is paid. A sheriff could sieze any personal property you own such as a boat or motor vehicle.
Can collections place lien on property?
Yes. If a judgment lien was granted by a court the lien can be recorded in the land records and you can't sell or mortgage the property until the lien is paid in full and discharged.
Why would a mortgage release be on public record file?
A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.A mortgage is a lien on the property that is recorded in the land records to notify other creditors or buyers that the property has been put up as collateral for a loan. When the mortgage is paid off the lien must be released by a mortgage discharge recorded in the land records.
Can an attorney put a judgment lien on your home property?
If you owe a debt to an attorney a judgment lien must be obtained through a court process. If the attorney is successful, the lien will be issued and will be recorded in the land records. You will not be able to sell or mortgage your property until it is paid.
Does a judgment act the same as a lien when you sell real property?
When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.When a judgment is recorded in the land records it becomes a judgment lien against the debtor's real property. That property cannot be sold or mortgaged until the lien is paid.
I signed a quit claim deed because I was on the deed but not the mortgage and now the person on the mortgage and deed isn't paying but the banks are coming after me?
There are several factors that must be reviewed. First, you must check to see if the deed whereby you transferred your interest was recorded in the land records. Next, was the deed recorded before the new owner executed a mortgage in their own name. If that is the case then you are not involved in the property or the mortgage and the lender must foreclose on the mortgage and take possession of the property.However, if the property was owned by two people and only one co-owner executed a mortgage of their half interest then the bank made a grave mistake. It only has a half interest in the property. In the case of a default it would only acquire a half interest by virtue of a foreclosure.If you executed a deed conveying your interest to the other co-owner after they executed the mortgage then the mortgagor owns a half interest that's not subject to the mortgage. However, as stated above, you need to make certain the deed of your half interest was recorded in the land records so that you are not still listed as a record owner.If you find that you are still listed as a half owner in the land records the only correspondence you should receive from the bank is notice that it is foreclosing on your co-owner's half interest in the property. You have no obligations under that mortgage if you didn't sign it. However, you should arrange to have that deed transferring your interest recorded so the bank can identify the owner of the property.If possible you should consult an attorney who can review the situation, check the land records and confirm that you have no obligations regarding the property.
Can Foreclosure wipe out a secondary judgment lien on the property?
A foreclosure wipes out any liens that were recorded subsequent to the mortgage. However, the lender must give notice to the IRS if a tax lien has been recorded against the property. If not notified the IRS has certain rights that may encumber the property after the foreclosure sale. Delinquent property taxes are not wiped out.
What is the lowest US mortgage interest rate ever recorded?
2.93%
