limits to in rem judgments

[illegalbeagle]

regarding Pennsylvania, but applicable anywhere.

judgments in foreclosure, all actions to foreclose on property are 'in rem'. they are "de terris", only against the property. they are secured claims... supposedly limited by the value of the collateral.

so why all these impossible judgments? isnt any security supposed to be redeemable? isnt the limit of a secured claim the value of the property itself? less prior liens??

$10,000 house with a $65,000 judgment. $5,000 house with a $30,000 judgment. $300,000 house with a $1,000,000 judgment. etc...

shouldnt the judge, on a state level, strike these claims down to par, in equity? is there any case law? i know about bankruptcy lien-stripping, but isnt this natural to the state level as well? what does it do to the concept of redemption when the debt is inherently unpayable?

 

[FlyingRon]

Not in Pennsylvania. A deficiency judgement is obtainable from the mortgage and that is assessed against the borrowers NOT the property.
Nice try, but just as with every one of your schemes you've posted today, there's no legal basis for it.

 

[illegalbeagle]

not Pennsylvania then? you had another place in mind? care to cite any statute or cases? no? of course not.

why do you bother posting when all youre do is copy and paste 'no' and 'cant'? what a total waste of time.

 

[BetC]

I've noticed, they are extremely RUDE on here. And they like to criticize and try to ridicule you. I just joined today to ask TWO questions, and two questions turned into a million questions I got asked that had NOTHING to do with my questions. But, they will turn it around and say, yes it did. I am deleting my account. They shouldn't post their own opinion if they want to help. I thought this was a place to get help, not act like a douche. They can ban me because I'm done anyway.

Every post I have read, it's a smart @ss answer. If they don't know the answer, they shouldn't bother replying.

 

[Proserpina]

I've noticed, they are extremely RUDE on here. And they like to criticize and try to ridicule you. I just joined today to ask TWO questions, and two questions turned into a million questions I got asked that had NOTHING to do with my questions. But, they will turn it around and say, yes it did. I am deleting my account. They shouldn't post their own opinion if they want to help. I thought this was a place to get help, not act like a douche. They can ban me because I'm done anyway.

Every post I have read, it's a smart @ss answer. If they don't know the answer, they shouldn't bother replying.

Gosh, I don't think anyone has ever received a whole million questions to their original post!

If that's the case, you must be very proud! What a Christmas gift for you!

 

[BetC]

Yeah, it was a great gift. Thank you. This board is full of intelligent people such as yourself.

 

[BetC]

By the way, I'm an atheist, so it wasn't THAT great.