Judgement Lien On House In Alameda
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The judgment lien is not going to impact a homesteaded property so the mortgage lender would be able to obtain a first lien on your property. So, as long as you otherwise qualify for a mortgage, the judgment lien should not be a problem.
Essentially, consensual liens don't adversely affect your credit as long as repayment terms are satisfied. Judgment and most statutory liens have a negative impact on your credit score and report, which affect your ability to obtain financing in the future.
Here are a few ways to remove the lien: Invalidate the lien. If the lien is invalid or was obtained in a manner that doesn't follow the procedural requirements under the law, an attorney may be able to strip the lien from the property. Satisfy the debt. Negotiate a lower payoff. File for bankruptcy.
Most judgments (the court order saying what you're owed) expire in 10 years. This means you can't collect on it after 10 years. To avoid this, you can ask the court to renew it. A renewal lasts 10 years.
Most judgments (the court order saying what you're owed) expire in 10 years. This means you can't collect on it after 10 years. To avoid this, you can ask the court to renew it. A renewal lasts 10 years.
Once a Notice of State Tax Lien is recorded or filed against you, the lien: Becomes public record. Attaches to any California real or personal property you currently own or may acquire in the future. Is effective for at least 10 years (may be extended)
In other words, in California judgments expire 10 years from the date they are entered by the court. Upon expiration of the 10-year period, all enforcement procedures must cease; any liens based upon the judgment are automatically extinguished.
An involuntary lien can occur without your knowledge, depending on the circumstances. A creditor often places a judgment lien after suing you and winning the case.
Enforcing Your Judgment Get in touch with the judgment debtor. Levy (seize) assets that you have personal knowledge of. Examine judgment debtor in court to locate unknown assets. Suspend the judgment debtor's driver's license if the judgment is for auto accident.
