answersLogoWhite

0


Best Answer

Generally a judgment lien can be executed against any real property belonging to the debtor. Seizure and forced sale of such property however is seldom possible due to the state laws governing the issue and the personal and real property exemptions allowed to the debtor/defendant.

User Avatar

Wiki User

โˆ™ 2006-01-21 16:32:46
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Add your answer:

Earn +20 pts
Q: If you still owe lots of money on your car and house and have very little equity can a creditor take them from you or put a lien on them in the state of Pennsylvania?
Write your answer...
Submit
Related questions

If you own a house with your same-sex roommate if a creditor wins a judgment can they put a lien on the house if you owe a lot in mortgage and have very little equity?

Sure, if a creditor wins a judgment they can attach any of your physical assets whether it's real property or personal.


Can a creditor come to your house and harass you?

Yes, a creditor can come to your house to try to connect with you, and or try to collect on the debt you owe them.


Can I refinance my mortgage if I have low equity in my house?

Yes it is possible to refinance your house if you have low equity. But you must have at least 20 percent equity before your refinance will be apporoved.


What if the estates debt is a mortgage?

The executor of the estate has the option of continuing to pay the mortgage and thereby continuing to own the property (which is presumably a house) or selling it. When you sell a house that has a mortgage, some of the purchase price will go to you, based on your equity in the house, and some will go to pay off the mortgage. If there is little equity in the house, or if the housing market is very depressed, you may realize little or no profit on the sale of the house, but you won't have to continue paying the mortgage.


How can one calculate how much equity they have in their house?

One can calculate how much equity they have in their house by using an online home equity calculator. Both Chase and MSN Money offer a home equity calculator that can be used for free.


Does the equity in a house add up from yourself and the previous owner and can you get it after you sell the house?

Your equity in your house is the difference between what the house is worth, the fair market value, and how much you owe on it.


What is equity line of credit?

An equity line of credit is issued based on the amount of equity you have in your home. If you have a $100,000 house and owe $75,000 then you would have $25,000 in equity.


Where can one find information on home equity in Florida?

Home equity is something a homeowner builds in his house. When a person buy a house, they make payments on said house. Then over time, naturally a property becomes more valuable. So when a house is bought and you live there for 10 years you build equity in the house. To find out about equity in Florida, contact a Real Estate agent.


In Texas can a creditor come to your house?

Yes, in the state of Texas, a creditor can come right to your house if you owe debts. However, in other states, the creditor must first get court papers to just show up at your residence.


How would you use creditor in a sentence?

"The creditor came to the house to see what would need to be repaired after foreclosure"


Where is the Connellsville Little House Society Inc in Connellsville Pennsylvania located?

The address of the Connellsville Little House Society Inc is: 144 E Crawford Ave, Connellsville, PA 15425-3641


Can you get equity release when you have a mortgage?

Equity release is re-mortgage plan that makes it possible to release equity on a mortgaged property. But, as soon as the equity amount is paid, you have to clear all the outstanding mortgages on your house. There are some equity release providers who deduct the outstanding mortgages from the value of your house to repay the loan.


What are equity realease schemes?

Equity release schemes are also called lifetime mortgages or reverse mortgages. They allow someone to take money out of the equity paid into their house and the house goes to the bank when they die.


Why is accounting differenciating between assets and equity?

Equity is the proportion of those assets you own, compared to the debt on those assets. An example would be a house. A house is an asset. The equity is the amount of the mortgage that is paid off plus any appreciation the value of the house. Same with a company. Its the difference between what you own and the debt or liabilities. Assets minus liabilities equals equity. You have equity in assets.


Can you keep a house in bankruptcy?

In a chapter 7, you can keep the house if there is no equity or the equity is exempt under the applicable exemption statute, or if you can pay the trustee the amount of the equity from some other exempt asset. If the house is in foreclosure, you usually would have to file a chapter 13. In a chapter 13, if the equity in the house, if not exempt, you may have to pay something to the unsecured creditors, increasing the amount of the plan and thus the plan payments. But you get to keep the house.


Does adding on to a house add equity?

Adding on to your house will in fact add to the equity of your home. The amount that will be added, however, will depend on things such as the cost of the project, where you live, and how much your house is worth.


How can you find out what your home equity is?

Equity is the value of something you own, like a house, or car, minnus what you owe on it. For example, if you bought a house for 100,000 dollars, and after five years you owe 85,000 dollars on it, and the house is worth 110,000 dollars, then your home equity would be 25,000 dollars.


Will you have to sell your house if you go bankrupt?

You will not have to sell your house if you only have $12,000.00 equity in it.


How much equity loans do you have on your house?

Equity loans vary from owner to owner. To see how much equity loans you have on your home, you need to contact your real estate agent or broker. They can then give you the specifics on your equity.


How can you split the house or equity in the house if your husband is in bankruptcy 13 at the time of divorce?

Generally, Home Equity up to $150,000 is exempt from a bankruptcy if the property is HOME STEADED.


Will you have instant equity when you build a new house?

Not necessarily, it depends on the market and the price of homes around yours. The only way to know is lets say you built a house that cost you 300,000 and your appraisal for the bank is the same amount, then no equity yet. If the appraisal is 400,000 the you have 100,000 worth of equity right away. When you start paying down the loan on the house that is equity too, for the amount you've paid off and the worth of the house.


How much of your house deposit is equity?

All of it. If the deposit is the down payment at the time of the purchase all of it goes to the equity in the house. Part of your monthly payment other than interest only as well goes towards the equity of your house. See the amortization table of your loan. if you have loan amount, interest rate and term put all these into the amortization table it will show how much of your monthly payment goes into the equity of the house.


Is the White House in Pennsylvania or in Washington?

The White House is in Washington D.C. Its address is 1600 Pennsylvania Avenue


How many Democrats are in the house of representatives in Pennsylvania?

There are 104 Democrats and 99 Republicans in the Pennsylvania House of Representatives.


How many members are there in Pennsylvania's State House of Representatives?

There are 203 members there in Pennsylvania's State House of Representatives.

Study guides

๐Ÿ““
Create a Study Guide