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Trying to get mortgage with a judgement lien against other property I would still own..

Trying to get mortgage with a judgement lien against other property I would still own...5 years ago my family started to sell off a piece of property that my name was on the deed for therefore I was part of the agreement on the sale of the property. The purchaser put a down payment down of 30,000. The sale has yet to be completed. I am trying to buy my first home, have decent to above average credit, but recently found out that the purchaser of the property placed a judgement lien against the all four of us who are listed on the deed even though the property is technically not mine but rather my parents. Is there anyway, to either get myself off the lien thus leaving and still protecting the purchaser by still having the lien on my mom & dad, or what are the chances that a mortgage lender would be willing to overlook the lien inorder to aprove me for a home loan, since I am not affecting the disputed property in anyway by trying to buy a home. Again my credit is just wonderful, but I have this lien listed in public records against something that technically isn't mine...?

lisa.scherzer's picture
lisa.scherzer | Joined: January 4, 2008 08:48 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

They had to get a judgement against you so in that case, there is nothing you can do about the lien.

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shamrockgrfx's picture
shamrockgrfx | Joined: October 4, 2008 10:43 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

so if there is nothing I can do about the lien... And I can't get a home loan to be able to use the equity to pay off the lien... and I certainly don't have 30,000 laying around to pay it off... how then do I get out from under it? I have no way to eventually get out or pay it off so I there fore am stuck without any options at all? What is a person supposed to do? Is it normally POSSIBLE to obtain a home loan if there is a lien against me since I have otherwise great credit and have a very solid income?

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jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi guest!

You should note that lien can't be placed against you. It is always placed against a property. If you want to take a home loan against any other property you can surely take but you can't take a loan on the property which has lien.

Thanks,

Jerry

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

the judgment lien you have mentioned is, as stated, on the property that you own. as such, it is your liability just as it is for your parents. you may find a lender who would allow you to get through without payment of that lien, but in these times, it is becoming increasingly hard to barter with lenders on situations such as you mention.

what is unusual is that someone tendered $30K five years ago to purchase the property from your family, yet the transaction has never been consummated. how does that happen? is it the $30K that is being held hostage and therefore the impetus behind the lien being placed?

you appear to be between a rock and a hard place - the only way to release a lien is to have a lienor grant it. essentially, that means paying it in full...or, simply, sell the property for crying out loud to the poor sap who is out $30K.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my credit score is 620 my salary is loow income and i want to buy a fixer upper house but i have a jedgement against me that i pay off monthly... why can't i get a loan to buy a houose? kthe loan that i am looking for leaves me with 41% left over to live on

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jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Stephanie,

With a 620 credit score, you can qualify for an FHA loan. But need to show enough income to afford the mortgage to be able to qualify. How long have you been paying off the judgment? If you can prove that you have taken initiative to pay off the judgment and you have been making the payments, you can still qualify for a loan. But the loan you are looking for should not take up more than 36-41% or near about of your monthly income. The lenders can be lenient about that percentage, provided you have a good payment history for the past 1 year and have no negative items on your credit.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I put a lien on a man's home for not paying his court order. He did not even show up for court after being served. I won, he did not pay me, so I put a Judgement lien on his real estate property. So when ever he tries to sell his property, he will have to pay off the lien before he can sell his property. Oh, the judge also put on an 8% yearly placed on this too. Every year he owes me more. The more years I wait to get paid, the more money I will get when his home sells. Poor guy, should of just paid the simple $400.00. It has been 6 years now.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

The bank refinanced a loan for a company that I have a lien on and didn't address the lien. They have forclosed on that property and I still can't seem to get my mechanic's lien or judgement lien satisfied. Kentucy

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Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

You need to contact an attorney and take his opinion in this regard. If you had placed a lien on the property, then you've the rights to recover it. You will have to ask the owner of the property to pay off the lien. If he doesn't, then you may take legal actions against him.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I am trying to help my granddaughter purchase her first home. She is the primary but because of her age a co-applicant is needed. Our scores are above 620 but I have a judgment in my credit reports. Is there any way we could still get a mortgage so she can buy her first home?

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jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Grammy,

If you want to be the co-signer for the mortgage, then you will have to pay off the judgment in full in order to get the mortgage. Unless you pay off the judgment, the lender may not be ready to give you the loan.

Thanks

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My car is in my fathers name i want to transfer the title out of his name but foc had a lien on the car how can i we have it removed i bought the car it was just put in his name because at the time of purchase i had a suspended drivers license

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smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Berry!

Welcome to forums!

Unless the lien is paid off, it won't be removed from the car. As the car is now in your name, you may have to pay off the lien.

Feel free to ask if you've further queries.

Sussane

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I placed a lien on my neighbor for personal property damages. They have no intentions to pay it back. They rent so they do not own any property that I know of. I have recently been informed that they are trying to get a loan to buy a house. With a 3000.00ien against them is it possible for them to get this loan

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jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Matty,

If the lien is mentioned in their credit report, then it may create a problem for them to get a mortgage.

Thanks

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