Judgements in New York State

Submitted by Anonymous (not verified) on Tue, 10/05/2010 - 05:12
Forums

I am trying to see a house and have several judgements against me. I am only desiring to payoff the mortgage, but if there is excess, i will pay off as much as I can of judgements. These judgements are the result of unsecured debt.
1. What if I dont sell it for enough to pay off the all
judgements.
2. Will the sale still go through or will the title company
hold up issuing insurance because of these judgements.
In other words, I owe 65000 on the mortgage and have 25000
in judgements. Do I have to sell it for 90000, or can I
sell it to my son for 65000 and ignore the judgements for
another day??

the mortgage company is the primary leinholder on the house. they will get paid first. but the judgments will get paid out of the sale and if you don't them then the title will not transfer

Wed, 10/06/2010 - 14:01 Permalink