QUESTION

can I sell my home with a lien and judgement if there is not enough equity to pay off the total judgment amount?

Asked on Jun 18th, 2020 on Civil Litigation - Georgia
More details to this question:
I had a Judgement recorded against me several years ago when the original decision was in my favor. The creditors challenged the Judge's final order and after long, expensive litigation, the creditor was able to get the Judge to reverse her original decision. I've attempted to negotiate a reasonable settlement, that I had the ability to pay, however, creditor has been unwilling to work with me. I have the amount of money that was initially sued for $125,742.68, Then interest was added ($4,960.45) plus the creditor's attorney's fees ($187.245.82). I'll never have the total amount of the judgment amount recorded. I have enough equity to pay the 1st mortgage and a HELOC, and the original sued for. The equity in that home is all they can go after, because I am retired and get Social Security and teacher's retirement which are exempt.
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1 ANSWER

Appellate Practice Attorney serving New York, NY
You can theoretically sell your home, but it would be sold subject to the judgment lien, meaning that if the judgment is not satisfied, the lienor can foreclose on the house even after it's sold, leaving the buyer without a house.  It wouldn't make sense for anyone to buy it under those circumstances.
Answered on Jun 19th, 2020 at 6:55 AM

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