possible to clear title to sell?

[ronchee]

about 6 years ago i had to default on the loan on my house. There was only a home equity line of credit, no other encumbrances. Rather than filing foreclosure against me , the bank was awarded a judgement. Now I'd like to sell, is it possible?

 

[HRZ]

Sure, arrange to pay off the judgement ....

 

[LdiJ]

Sure, arrange to pay off the judgement ....

That isn't even necessary. The judgment should get paid off as part of the closing on the sale of the property.

 

[Zigner]

That isn't even necessary. The judgment should get paid off as part of the closing on the sale of the property.

That is arranging to pay off the judgment

 

[LdiJ]

That is arranging to pay off the judgment

This is true, but HRZ gave the impression that arrangements needed to be made in advance of a sale, and that is not correct. It would all be handled as part of the closing of the sale of the property. No differently than any mortgage lien.

 

[Zigner]

This is true, but HRZ gave the impression that arrangements needed to be made in advance of a sale, and that is not correct. It would all be handled as part of the closing of the sale of the property. No differently than any mortgage lien.

I know - was just messing with you that time

 

[quincy]

about 6 years ago i had to default on the loan on my house. There was only a home equity line of credit, no other encumbrances. Rather than filing foreclosure against me , the bank was awarded a judgement. Now I'd like to sell, is it possible?

Are you located in the US, ronchee? If so, in what state?

 

[adjusterjack]

I know - was just messing with you that time

This forum would be dull without you guys "messing" with each other.

 

[ronchee]

I should have said without paying off the judgement, the property is still underwater from the last boom which ended in 08, paying off the judgement would mean i'd have to come to closing with lots of money, definitely not worth it.
I was told through 'election of remedies' I would be able to clear the title, but obviously not the judgement, through a court action. The bank's lawyer made a mistake, should have foreclosed, and now there's nothing else they can do. i'm in florida

 

[Ohiogal]

I should have said without paying off the judgement, the property is still underwater from the last boom which ended in 08, paying off the judgement would mean i'd have to come to closing with lots of money, definitely not worth it.
I was told through 'election of remedies' I would be able to clear the title, but obviously not the judgement, through a court action. The bank's lawyer made a mistake, should have foreclosed, and now there's nothing else they can do. i'm in florida

You can't sell then unless you can pay off the judgment. Or get permission from all creditors for a short sell.