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Yes, a judgment can lead to the forced sale of a house if the homeowner fails to pay a debt that the judgment pertains to. If a creditor obtains a judgment against a debtor, they may file a lien against the property, which can ultimately result in a foreclosure or forced sale if the debt remains unpaid. However, this process typically involves legal proceedings and may vary by jurisdiction. Homeowners may have options to contest or negotiate the sale depending on their circumstances.
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Can a judgment affect sale of house?
Yes, a judgment can affect the sale of a house. If a property owner has a judgment against them, it may result in a lien being placed on the property, making it difficult to sell until the judgment is resolved. Potential buyers may be deterred by the encumbrance or may require the seller to clear the judgment before completing the sale. Additionally, unresolved judgments can impact the seller's creditworthiness and ability to obtain financing for the sale.
Do I still have to pay back my mortgage company after they foreclosed my home?
It will depend on the contract and conventions where the foreclosure took place. In many states where homes loans are secured by a trust deed the lender can only force the sale of the house and there is no possibility of a deficiency judgment when the sale was a trustee sale. If you really want to know have a lawyer in your state review your contract and default action the lender has filed. Lenders can file for a judicial action which can include a deficiency judgment if they believe there was mortgage fraud and the borrowers has assets.
If you own a home in Tennessee can a unserced credit card with a lien force the sale of your house?
In Tennessee, a credit card company generally cannot force the sale of your home solely due to an unsecured credit card debt, as these debts are not backed by collateral. However, if a creditor obtains a judgment against you for the debt, they may be able to place a lien on your property. This lien could complicate the sale of your home or potentially lead to a forced sale if the debt remains unpaid and the creditor enforces their rights. It's advisable to consult with a legal professional for specific guidance related to your situation.
Can creditors garnish your wages or take your house in California?
Yes. California allows income garnishment by judgment creditors. The law also allows a judgment creditor to place a lien on real property owned by the judgment debtor. Generally the homestead exemption will protect a primary residence from a forced sale for debt owed. Judgment creditors rarely request a forced sale of a primary residence because it is a complicated and lengthy process and is seldom profitable enough for implementation.
What happens if a homeowner does not make payments on their mortgage?
The bank will start foreclosure proceedings. They will file a complaint against you in court and seek judgment. The house can then be sold in a sale or auction.
When a court order to force the sale of real estate to pay a judgment is called?
A court order to force the sale of real estate to pay a judgment is typically referred to as a "judicial sale" or "sheriff's sale." This process allows for the property to be sold in order to satisfy the outstanding judgment that the owner owes.
Can a judgment affect sale of house?
Yes, a judgment can affect the sale of a house. If a property owner has a judgment against them, it may result in a lien being placed on the property, making it difficult to sell until the judgment is resolved. Potential buyers may be deterred by the encumbrance or may require the seller to clear the judgment before completing the sale. Additionally, unresolved judgments can impact the seller's creditworthiness and ability to obtain financing for the sale.
Can a judgment creditor force sale of debtors real property in ny state?
In New York State, a judgment creditor can force the sale of a debtor's real property through a legal process called foreclosure. However, this typically applies to properties that are specifically tied to the debt, such as real estate that serves as collateral for a loan. For general debts, creditors may obtain a judgment lien on the property, but they cannot directly force a sale unless they pursue further legal action, like a foreclosure or a court-ordered sale. Additionally, certain protections, such as homestead exemptions, may limit a creditor's ability to force a sale on a debtor's primary residence.
If you need to sell your joint-owned house in Florida but you have a judgment against you not a lien will you have to pay the judgment first?
If the judgment was not perfected as a lien against the property (which is almost impossible in Florida), the property is not encumbered and the title should be clear, thereby not causing a problem with the sale. The judgment holder will probably be able to execute the judgment as a bank account levy and/or seize funds garnered from the sale of the homestead.
Do I still have to pay back my mortgage company after they foreclosed my home?
It will depend on the contract and conventions where the foreclosure took place. In many states where homes loans are secured by a trust deed the lender can only force the sale of the house and there is no possibility of a deficiency judgment when the sale was a trustee sale. If you really want to know have a lawyer in your state review your contract and default action the lender has filed. Lenders can file for a judicial action which can include a deficiency judgment if they believe there was mortgage fraud and the borrowers has assets.
If a judgment is obtained in California what circumstance allows a forced sale of home?
California is a community property state, therefore how the house is titled or whether the debt is joint is not relevant. The main factor would be if the homestead exemption is large enough to protect the property from a forced sale by the judgment holder.
If you own a home in Tennessee can a unserced credit card with a lien force the sale of your house?
In Tennessee, a credit card company generally cannot force the sale of your home solely due to an unsecured credit card debt, as these debts are not backed by collateral. However, if a creditor obtains a judgment against you for the debt, they may be able to place a lien on your property. This lien could complicate the sale of your home or potentially lead to a forced sale if the debt remains unpaid and the creditor enforces their rights. It's advisable to consult with a legal professional for specific guidance related to your situation.
Can a judgment creditor force the sale of a home if it does not have a mortgage attached?
It depends on whether the judge determines that the house is "necessary" and if it is a significant financial resource. If you have a lot of equity and the house is a little "ostentatious", he/she may determine that it isn't really necessary and that you can get by with a much more modest house. But it will all depend on the determination of the judge. * Although it is possible in the majority of US states for a judgment creditor to file a lien against real property, perfect the lien and then request a forced sale, the action is rarely implemented by the judgment creditor. In most cases the state or federal homestead exemption will protect a primary residence from a forced sale. Please be advised that a homestead exemption is not always automatically covered by state law and the homeowner is required to file a declaration of homestead for a primary residence to be protected. Also, a few states (Texas is one) have established laws that directly forbid the forced sale of a primary residence by a judgment creditor.
What is a judicial sale of your assets?
It is the sale of goods and/or property owned by the judgment debtor. The sale is conducted by an officer of the court (usually a sheriff) to satisfy a creditor judgment or in conjunction with some other type of court order.
Can creditors garnish your wages or take your house in California?
Yes. California allows income garnishment by judgment creditors. The law also allows a judgment creditor to place a lien on real property owned by the judgment debtor. Generally the homestead exemption will protect a primary residence from a forced sale for debt owed. Judgment creditors rarely request a forced sale of a primary residence because it is a complicated and lengthy process and is seldom profitable enough for implementation.
What happens if a homeowner does not make payments on their mortgage?
The bank will start foreclosure proceedings. They will file a complaint against you in court and seek judgment. The house can then be sold in a sale or auction.
If one spouse has a judgment against them in Florida can the creditor pursue or force the sale of a Connecticut property that is held by joint tenancy?
Generally yes, against the husband's interest only. However, they would need to find the property first and obtain a judgment in Connecticut.
