QUESTION

Will I be able to sell the house if I have judgments against me?

Asked on Dec 02nd, 2013 on Estate Planning - North Carolina
More details to this question:
I tried to sell my house. They would not release liens and lost it to foreclosure. I have other property paid for and as for it is, I know there are no liens.
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1 ANSWER

No. Not unless the judgments are satisfied. They can be satisfied out of any equity in the home. Or you can try to resolve the judgments before you sell. Once resolved, the judgment creditor will mark the judgment as satisfied. Judgments, once entered, attach to all real property that you own. Where were the judgments entered? I do not understand the connection between having judgments, not being able to sell property and foreclosure. Was there no equity in the property and were you selling it for what it was worth (breaking even) or doing a short sale? In that case the judgment creditors would not release the liens. The judgments are liens on your other property though. You mention your other property is paid for. What is it worth? How much debt do you have? Is it worthwhile for you to file bankruptcy? Or, with enough time, would you be able to resolve these judgments by way of settlement? These are things you need to think about.
Answered on Dec 05th, 2013 at 2:55 AM

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