This form is a sample letter in Word format covering the subject matter of the title of the form.
Judgment Lien Foreclosure In Franklin
Category:
State:
Multi-State
County:
Franklin
Control #:
US-0025LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
What Do You Do When There Is A Judgment Lien On Your Property, But The Judgment Has Expired? Judgments have expiration dates. If they are not timely renewed, they expire. In CA that is 10 years.
As further bad news, default judgments do not simply vanish. The lien of a default judgment lasts five years and may be easily and repeatedly revived and transferred to other counties or states.
A judgment lien expires after 5 years from the date it is recorded but may be rerecorded once for another period of 5 years not less than 120 days before the expiration of the initial judgment.
Creditors typically acquire property liens through your voluntary consent. On the other hand, creditors get judgment liens after winning a lawsuit against you for a debt you owe.
Judgments have expiration dates. If they are not timely renewed, they expire. In CA that is 10 years. However, when a judgment lien has been recorded against your property, it has no expiration date.
Following a first mortgage foreclosure, all junior liens (including a second mortgage and any junior judgment liens) are extinguished, and the liens are removed from the property's title. However, the second mortgage debt and creditor's judgment remain, even though they're no longer attached to the foreclosed property.
Following a first mortgage foreclosure, all junior liens (including a second mortgage and any junior judgment liens) are extinguished, and the liens are removed from the property's title. However, the second mortgage debt and creditor's judgment remain, even though they're no longer attached to the foreclosed property.
Mortgage liens usually take priority over any other lien except tax liens.
If the IRS tax lien is junior to the mortgage being foreclosed, the IRS tax lien will be foreclosed through the judicial sale and the lien on the property will be extinguished after the judicial deed is issued.
During the 5 week notice period, the homeowner can stop the foreclosure by making-up all missed payments (including late fees and attorney costs) or working with an attorney to stop the foreclosure process. The only time it is too late to stop a foreclosure is when the property is sold at auction to a new party.
