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buying a house with cash, judgements

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tonyw

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Post Posted: Sat Jul 10, 2010 1:01 pm    Post subject: buying a house with cash, judgements
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Hi, My wife and I are in the process of buying a house with cash, no loan. Awhile back we had a substantial judgement against us due to my wifes ex husband, long story. We are in a legal battle over it. We got the title info in the mail recently and that judgement is listed in the title papers. Can they put a lien on it before we even close. Can that affect us buying the home? Thanks
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adonis




Joined: 22 Oct 2005



Posts: 10250
Location: ALASKA
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Post Posted: Mon Jul 12, 2010 1:07 am    Post subject:
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Hi tonyw,

The lien will be placed on your property and not on your mortgage. If the property title is in your name, then the creditor can place a lien on the property. It may affect your chances of getting a loan. The lender will want you to pay off the lien first and then apply for the loan.

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