Judgement?

Question

My husband and I received a letter that a judgement has been set against us for not paying our mortgage. Can anyone tell me what is going to happen now? We have our house listed for sale. We live in PA. Thank you for any help. :(

Answer 1

You really need to talk to a lawyer.

Answer 2

sheriff will come next with eviction notice! good luck!

Answer 3

Start of foreclosure procedures.  Next step is to list the property for sale, sale at public auction - usually to the bank (who bids on the p their interest) property to protect and evict current tenants.

Answer 4

Is there going to be a hearing? Or did the judgement already get decided?

My husband has some judgements against him, all business related...we didn't even know about any hearing, they were just on his credit report a few years ago when we were thinking of buying a house...did you get any kind of notice?

I was told by mortgage guy, judgements are worse than an auto repo in your credit report.

Do you have any more details? Did your mortgage company tell you they were taking you to court?

Answer 5

You don't provide enough info to tell what is going on.  A judgment arises from a court case that you lost.  Were you involved in a court case with you as the defendant?  If you are totally unaware of anything, it may be that someone is blowing smoke in order to get money out of you.  Bill collectors have been known to lie and lie again.  Without knowing the source of the judgment and whether or not it is legitimate not much can be said.

Answer 6

You actually have a warrant on you if you dont acknowledge this judgement. Also, your credit is messed up about as bad as it can be now. You wont be able to get a loan for anything until this judgement is payed off. Also, you may go into foreclosure before you are able to sell your house.

Answer 7

Foreclosure is next. Hope that the house sells before it forecloses.

I am going through that now with a house of mine in California, should be the same all arond the US.

Answer 8

I read over some of the answer's you got and a lot of them are wrong.

Let me start by saying, you didn't provide enough information in your question to truly and accurately answer it. Let me ask.....

1. Is it a "Judgement" or a "Notice of Default"

If it's a "Judgement" then foreclosure proceedings have already taken place and the asset (home) was sold for less than what would satisfy the debt and therefore the owner of the mortgage has went to court and asked a Judge for a "Judgement" agasint you that would then allow them to seek payment by going after any and all assets you own. This can be anything from attempting to garnish wages to forcing the sale of real property like cars, boats, jewelry, etc....

If you received a NOD or Notice of Default, this is your legal warning that your home is about to go into foreclosure. When this happens the mortgage holder goes to court, proves you defaulted and then takes actual possesion of your home. At which time, depending on local law enforcement guidelines, your home may be sold at auction or the mortgage holder and force eviction.

The truth of the matter is, a judgement happens after foreclosure proceedings or if the home was sold short and a Notice of Default is a warning of legal foreclosure proceedings to take place soon.

Regardless if your home is for sale, if you haven't been making payments, then the mortgage holder is going to proceed with legal action against you. The communicate their actions before they ever proceed so, read over your documentation that you have gotten and you will know what happens next.

www.JesseGonzalezRealEstate.com

Answer 9

It varies from state to state. Talk to a good real estate attorney in your area.

If foreclosure looms in the near future, talk to your real estate agent about the possibility of a "short sale".  If your agent does not have this kind of experience, then find one who does.

You might also consider a Chapter 13, based on what your attorney advises you.  This would help you keep your home.

Good luck!

Answer 10

Foreclosure.  Better look for a place to rent quickly.  I hope you don't have kids.