Hey all, first post here.
I’m an investor in Philadelphia, and I’ve recently moved from the Pre-foreclosure market to the Sheriff sale market. 1 Month prior to the sale cuts it a bit close for preparation’s sake.
Is there anyway to find the judgments for a sale earlier than a month before? I’m desperate!!
Thanks all!
Try looking for a Notice of Default list. Once the owner defaults, the lender has to file a Notice of Default. Technically the owner is in default the day after his payment is due but the NOD is typically not filed until he is 90 days behind or longer.
Our MLS lets us search for “subject to” listings. These are listings where the seller has agreed to look at offers “subject to” lender approval. Basically a short sale.
I make up a list in San Diego that you can find at www.SubjectToLists.com. Its FREE. I am not trying to sell anything but this may violate forum rules and if so I am sorry.
A good realtor can probably do the same thing there for you.
I have a judgment in Oregon on a man that has property in Oregon, however he lives in Florida. The amount is for $15,391.74. How do I collect or sell.
What do you have a judge for? How old is your judgement? Need more information
First you have to do an asset search. Then based on State laws you seize his assets worth approximately what he owes. In Texas you can seize amounts for the judgment as well as the cost to acquire the assts. For example of he owe you $15,391.74 and it takes you $10,000 to track down his assts and the asset is worth $26000 you don’t have to give him the change.
This is state by state. For example in Texas ( I believe Florida is similar) you can’t seize his homesteaded house, his car, his personal items his retirement accounts, or the tools of his trade. This means that basically you are left with nothing but any cash he may have. I would search for his bank accounts and present a letter to his bank to freeze his accounts and make a claim on his money. He is in Florida and his judgment is in Oregon so you need to follow Oregon laws.
One thing to be aware of even in Texas you can seize anything you want from him. In order for him to protect these things he has to file bankruptcy. If you can get his car and sell it before he files bankruptcy you have your money. I am not a lawyer and don’t play one of TV so take this advice as entertainment value only.
If you are in a morgage state, the clerk of court’s office may have a database you can access that will list all the foreclosure judgments that were recorded. In Deed of Trust states, no judicial action is required for the lender to foreclose. so there won’t be a judgment for forclosure recorded.
Personal money judgments usually create a lien on any real estate the judgment debtor may own in the county where the judgment is recorded. The judgment is recorded in the pubic record rather than the deed records database. If the debtor has real estate in another county, state law may require you to also record the judgment in the other county before you can go after assets located in the other county. If the debtor has assets out of state, you can domesticate your judgment in the new state and seize the debtor’s assets in the new state and county where the judgment is recorded.
Wages are subject to garnishment to satisfy a judgment, although there are a few states that prohibit wage garnishment except under special circumstances.
There are professional judgment collection companies that will execute your judgment for a percentage of the recovery. PM me if you want a referral.