I am getting ready to close on a federal 502 loan, but I have restitution that I owe from 7 years ago. I have made my payments every month, so that shouldn't be an issue, but at closing, I guess they do a judgement search on me. The lenders know about it, but there's something about if they can have 1st lien on the property or not. Can anyone help me out on this?
2007-04-10 15:41:28 · 5 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Call a title company in your county, they will know the exact and correct answer.
2007-04-10 16:05:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Don't worry about it.
That judgement can't achieve first position until they file it specifically against the house, AND you pay off all liens prior to it.
It might become an issue when you refinance the house, but not until then.
2007-04-10 15:50:58 · answer #2 · answered by open4one 7 · 1⤊ 0⤋
Any outstanding liens will impact the amount of financing for which you are eligible. talk to the bankers and your attorney.
2007-04-10 15:50:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Hey,
Jus research the property laws in your area. Find the partion that pertains to your situation and disect it maticulously.
U'LL BE ALL RIGHT !
2007-04-10 15:49:13 · answer #4 · answered by DARMON G 1 · 0⤊ 0⤋
Probably not, they'll just charge you a higher interest rate.
2007-04-10 15:45:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋