Short Sale Judgments Resolution

When working on a short sale many borrowers are in a true financial burden. For this reason it’s always important to check title of the property at the beginning as additional involuntary liens may be on title. One common lien may be in the form of a credit card judgment or a hoa lien. When judgments are on title the deal may need to be structured differently as all liens need to be paid or released prior to closing.

Short Sale Judgments can cause major hurdles to accomplishing a short sale. The more people who want to get paid the harder a deal often becomes as there is only so much money to go around, especially, if a judgment in a subordinate position demands too much money. Also, there are guidelines from first mortgage investors or insurers that cap out how much money can go to a subordinate judgment. Some investors do not allow any money to be paid to judgments and won’t allow contributions from any parties to show on the settlement statement to judgments. This will put a transaction in a very sensitive situation.Knowing the guidelines and seeing the forest before the trees to best structure a deal

If you need short sale judgment help or have questions, please fill out the form below or call 1-800-692-9960 and a specialist will be in touch with you shortly.