Need Advice

gameygal2001 profile photo

Hello,
I need advice about a property that had gone into foreclosure. It had a 2nd lein from a line a credit. The 2nd lein is showing a deficiency judgment against the ex wife of the owner...whose name was inevitably on the credit line, but not on the primary mortgage. The house has been sold. Could the house have been sold, leaving the 2nd judgement still out there and then who is responsible to pay it? Should the sale of the house have covered the 2nd lein? Also, does anyone have any information about the Deficiency Judgement Act- I was told that there is a 6 month time frame to initiate judgement collections and then after that, the time has run out. Anyone who is knowledgable about this type of situation, please post....I would be so grateful.
gamey

Comments(2)

  • roberth25th March, 2005

    If you buy it before foreclosure you will be stuck with the lien. If you buy at the foreclosure auction the lien will go away.

    Good Luck,
    Robert

  • gameygal200125th March, 2005

    HI Robert,
    THanks....Who will be responsible for the lien after the house is purchased...if the lien is attached TO THE PROPERTY?

Add Comment

Login To Comment