"Old or not, this thread reinforces my opinion that we all MUST do title searches (including judgement search) at the outset of taking these listings.
It seems that no matter how many times I ask a seller "do you have any judgements or liens…"
Carolyn Lien's Discussions
HELP! I need to get 2 judgments released to close a short sale.
Started this discussion. Last reply by Drew Ludlow Feb 19. 15 Replies 0 Likes
Hi Everyone,I could really use some help. I have a client that has 2 judgments that need to be released so that her short sale can be completed. What is the best & fastest, as time is of the…Continue
Banks hiring contractors to break in to listings
Started this discussion. Last reply by Woody Edwards Aug 6, 2011. 76 Replies 0 Likes
Hi All,I have a short sale listing in Minnesota and the bank that I am working with (Selene Finance) and they have hired Meridian Asset Services to help negotiate the offer when one comes in. I find…Continue
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Drew Ludlow replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale.
Donna McClelland replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."Is it just me or is anyone else wondering why this week's discussions have posts from sept of 2011? Anyway, my answer to this question would be to talk to title/escrow (if u use them in MN) and see if they can do a homestead exemption to allow…"
Joann Torvik replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."Is there a mortgage and who holds the mortgage? They will have to settle for less or go into foreclosure. They could offer the two judgments some money, if Capitol One and the management company do not accept what the mortgage company is…"
Harry Clay replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."I'd throw this back to the buyers.
This is not a question about them paying off someone else's bad debts.
It is a question of how much is the house truly worth to them.
They don't have a problem snatching up the seller's…"
"I work with an attorney, and had him call the other attorney about a judgement of some $240,000. They settled for $1,000 which the other agent and I gladly split to get this done. An attorney on your side does wonders!"
Mike Ashcraft replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."Good luck! I hope it goes well. Let us know what happens."
Carolyn Lien replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."We are in Minnesota. Seller has No Income what-so-ever. She's on state assistance. Buyer does not want to contribute. Can't say I blame her. Why would I want to pay off someone else's bad debts. I've been praying for…"
Carolyn Lien replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."I have been negotiating with them. Problem is, they want all the money that is owed and my seller has NO income. None, zero, zip. She is on state assistance. Ever tried to pull blood out of a turnip. Impossible. So…"
Carolyn Lien replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."Nice! So far I have had no luck with them. It's been money or nothing. I love your idea and will try to put that into play today.
Thanks so much and I will keep you posted.
Carolyn"
Mike Ashcraft replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."I try to put myself in the creditor's shoes when approaching them. I try to figure out what will appeal to them. The obvious answer is $$$$ ; ) but if there is none to motivate them, what else might? I would make it…"
Kimberley Kelly replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."Two things might help.
1. Ask Buyers of course for a nominal contribution.
2. Show the lienholders the HUD netting zero to Seller, and see if they'll just sign the doc. If they insist on a payoff to do it, find…"
jennifer mullen replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."What state are you in? In SC, judgment attaches to the property and the lien has to be removed to provide clear title. Sometimes they'll take a nominal payment to remove the lien from the property but will not release the debt…"
Jeff Payne replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."If it does not need to be satisfied, just ask them to remove it from the land and attach it to her. I am sure that they also know that it does not need to be satisfied and will try to tell you that they must be paid. Keep us informed"
Carolyn Lien replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."It doesn't need to be satisfied but it needs to be released from the land in order to do the short sale. I need some words of wisdom as to how to talk them into signing the release of land. The judgment will still remain…"
Jeff Payne replied to Carolyn Lien's discussion HELP! I need to get 2 judgments released to close a short sale."First and Foremost, are you 100% that these need to be taken care of in order to sell the property. Check with your title company and make sure that they check with their underwriter. I have experienced this in the past with 2 similar…"
Carolyn Lien posted a discussionHELP! I need to get 2 judgments released to close a short sale.
Hi Everyone,I could really use some help. I have a client that has 2 judgments that need to be released so that her short sale can be completed. What is the best & fastest, as time is of the essence, way to get them to release them. One is Capital One but it is with a lawyer (about $2K) and the other is with an apartment complex management company (about $4.5K).My client has absolutely no money & doesn't work. I know that I need to get them to sign a Release of Land from Judgment…See More
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- I have great passion for the real estate industry especially knowing that I am helping s seller through difficult times. There is nothing better than seeing the relief on their face at the closing table. They know that they are in good hands with me. I am diligent at keeping them on track with open and honest communication, extremely organized, and work with the banks to get the process pushed through in a timely manner.
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