Abstract of Judgement

[knightsbranch]

Help. I got an abstract of judgement with a lien against my house in the mail today from a firm called Hunt and Henriques. The judge ruled in favor of the plaintiff on Feb 11th after the attorney filed for a summary judgement even though I had been given a 60 day extension by the clerk to answer the complaint. What can they do with this lien ? I have just been granted a loan mod and I'm going to start making payments again next month. Upside down on the mortgage to the tune of about 75,000.

[junker]

i have a abstract lien also...if you are upside down i wouldnt worry about that...they can only force a sale IF you have equity BEYOND the mortgage and exemptions.....you wont be able to sell though until its cleared up or satisfied...or get a new loan...i am NOT sure about the loan mod though..has it went through yet??.......if you have NO plans on selling..they will have to renew it when it expires...just like a judgment...in california here its 10 years....so as long as your mortgage and exemptions exceed the value of your home ..they cant force the sale of your house....

[knightsbranch]

Thanks Junker. The loan mod has been approved, no trial period. First payment went out today. Have you had any trouble with them trying to get to your bank accounts or wage garnishments ?

[junker]

you DO have to be careful there...as just because its a abstract lien...they can STILL try and get the money anyway they can.....i am judgment proof..and no lienable income..and have taken care of any assets in my name...but yes you still need to try and protect yourself in those areas..if possible....depending on what state you are in...equity in your car...if head of household exemption applies...all areas to look into in your state.....

[keptdigging]

The problem with the lien is that you may not always be upside down. So it's something you'd like to get avoid or get rid of if possible, even if it doesn't have any immediate consequences. And it's not like they won't be looking for other ways to collect on the judgment either.

[junker]

FOLKS....i forgot to mention......ALWAYS file a homestead exemption on your house.....in california it costs 10 bucks....and also in some states if they get a abstract judgment on your house... BEFORE you file the homestead....it becomes senior to the homestead exemptions.......meaning your homestead exemptions MIGHT not apply and help protect your house.......if you have the homestead filed BEFORE they get the abstract lien...then you are protected....