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    delma2582's Avatar
    delma2582 Posts: 1, Reputation: 1
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    #1

    Dec 1, 2009, 09:10 AM
    I have lien on my land and am purchasing a home how much am I entitled to settle for?
    I am purchasing a home but there is a lien on my land. A judgment was placed back in 2001 in the amount of $1800 but is now $5900, what is a reasonable settlement amount?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Dec 1, 2009, 10:27 AM

    $5900! You reneged on a debt resulting in them having to sue you. Even after they obtained a judgment and placed a lien you still didn't pay. Now you can't sell your land until you satisfy the judgment. Do you really think they are going to settle? They have you completely over a barrel. There is no incentive at all for them to settle.

    I doubt if they will accept anything less than the balance due in settlement. You can try offering 50% as a starting point, but don't be surprised if they refuse any offer less than the full balance.
    DownUnder's Avatar
    DownUnder Posts: 492, Reputation: 24
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    #3

    Dec 1, 2009, 05:40 PM

    I agree with ScottGem. I doubt if even offering a settlement will help. The judgement will have to be taken care of before the land can be sold. The time for offering a settlement has long past, letting it go this far was the wrong thing to do.Also that $5900 will just continue to rise until you stasify that judgement.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Dec 1, 2009, 06:45 PM

    yes, if the lien is less than the value of the property, they may just wait till you sell and then get the money.

    Again you may make a offer but after they have a lien, often that is too late to try and settle
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