I have a few judgements against me from past due credit cards and I am trying to sell my house In NY and make a fresh start. I have every intention of paying these judgements after I get settled in my new area. I am concered that the judgements may bite me in the... when it comes time to close on my house. They are not leins but judgements. Will this affect the sale of my home? Will I be forced to clear them up before selling the house or does one have nothing to do with the other?

HELP :eek:

Does not effect the sell of your home, but when you go to buy another property it will effect the interest rate and your Credit Score.

When you sell this property, pay off the judgments to clean up your credit report, make sure you get the Notice of satisfaction of the judgment, since it takes a few months to be listed on the Credit Report.

So in other words the judgements are against me personally and will effect my obtaining future credit, but they are not attached to my property and I will sell, take the money and run - until I am settled and clear up this imbarrassing :o problem?

That's what Mr Yet said. However, there is a possibility, though remote, that the creditors have placed leins on your home to satisfy the judgements. You can check this out at the county clerks office, or through a title search. If there are any leins, then they will need to be satisified at closing or before.

There are no liens posted against me on the county clerk office website as of yet. Just the judgements.

Can a credit card co. collection agency, and/or attorney for c.c. attach a lien on a house for an unsecured credit situation?
Is a judgement anything more then a legal piece of paper verifying its legitimacy?

This varies by state, but in most states, a judgement based on unsecured debt cannot be used against a primary residence. That's why I said it's a remote possibility.

Not sure what you are asking in the second part. A judgement is an authorization to the creditor to garnish or otherwise seize assets or property of the debtor to repay the debt. There are restrictions on what assets or property can be attached, but those restrictions vary depending on the area.

Well, thank you so very much for all your help. This eases my mind with the go ahead with the sale of my house. If I was forced to satisfy the judgments at the time of sale, I would not be able to afford my new housing and vertually end up homeless. That is not an option. I will get myself settled, organize my finances and clear these things up ASAP.
I will keep you all posted

Ummm, have you secured financing for the new housing? With significant judgements against you, you will have trouble getting an affordable mortgage.

Whatever you owe will be taken from the proceeds from the sale of your house to satisfy the debt.

One other point. If they have judgements against you, they could garnish your bank accounts. If you deposit the proceeds of the sale, they could get at them that way.

Thanks everyone for you answers. I am still working on the sale of the house.
I do have a problem though. One of the creditors did freeze my bank account.
There is only $20.00 in there, but just the same. My only source of income is workers comp. disability and child support. I have been sending this creditor $10.00 a month and have asked on several occasions for a payment agreement. They have not responded to this request, instead got the judgement and now froze the account. I informed them of the type of income I have, sent them copies of my bank statements and disability statements and again requested a payment plan along with a letter to my bank releasing my account. No response and my account is still frozen 6 days later. The big problem is my disability pay is scheduled to go into this account at the end of the month. I faxed a letter to them requesting the payment not be direct deposited, but mailed but I do not know yet if they can do that.
Any suggestions on what I am to do? This collection firm is not responding to me, the bank can't do anything for me and my income is exempt from this type of seizer, yet they are ignoring my phone calls. The bank had to freeze the account because I stupidly deposited cash from my child support to cover a check to fix my oil burner.
If I get a friend to open an account for me, can my direct deposits go into that account if my name is not on it?
When I do sell my house, can I deposit the proceeds into my minor daughters savings account until I need them for the purchase of my new housing? I will be purchasing out right so no mortgage will be necessary.

I would not recommend fraudulent methods to hide your assets. I also would not use direct deposit until you satisfy the judgements.

Unfortunately direct deposit is required for my disablity payments.
I am not trying to be fraudulent just protect myself until I can clear up this situation.

I know you aren't TRYING to be fraudulent, but you are suggesting methods that would be.

Ok here is the latest.
I checked my account online on Friday and it is now cleared. No longer frozen. I have not heard from the attorney's office that is involved here, so what do I do next?:confused: Do I keep sending them the $10.00 a month? Do I wait for them to contact me? I did request a payment agreement (several times), so should I wait for them to send me one? :confused:

Hello challenged:

Keep sending the money. You're going to have to send it anyway, and it MIGHT keep them at bay. NO - don't wait for them. Pay it all by yourself.

You've mentioned this "payment agreement" several times as though you think you have some sort of right to one. I don't know where you get that from. You already had a payment agreement. You didn't keep it. That's why they sued you. The won too. That means they have a direct path to your money. So, why on earth would enter into another payment agreement with you? And, why do you think they should??

excon

I think that because I have 2 other problem accounts that were more then willing to set up a payment agreement with me. As long as I make my very low payments as agreed they leave me alone. If I am even late by a day, they are on the phone saying "ok, wheres the money you agreed to" I immediately send it out.

I am a mortgage broker. I know that many judgments are NOT required to be paid unless it affects Title. Some banks however, according to their own guidelines require it--most likely because it affects the debt to income ratio. In otherwords, they want your debt reduced. It is just a matter of finding a bank that allows for judgements to stay. I have done a few loans with these situations. You are not always required to pay off judgements. Hope this helps.;)

Just an update. I did get an offer on my house, and my attorney told me that the judgements would have to be satisfied in order to get a clean title. A title search would also search me the homeowner and anything against me would have to be cleared up. Bummer, I didn't get an offer high enough to cover the judgements and the mortgage, as well as cover my relocating and new housing expenses. Relocation is on hold.
My latest question for anyone able to answer is... Will these judgement against me, thereby killing my credit report, hurt my children when they go to apply for student loans for college?

Another question. I read somewhere that a judgement is only good for 10 years and then it is up to the judgement holder to renew it for another 10 years. Does the judgement expire completely after the full 20 years (assuming it is renewed after the 1st 10 years)?