judgments - Posted by LIT

Posted by Rick, the Probate Guy on May 26, 2006 at 09:37:22:

Dan - good to see you posting here. I lost track of some of the people that I met last year thru the ZNN program. I’ve only found one other investor with what I would consider your high-level of understanding on judgments. Drop me an email someday.

judgments - Posted by LIT

Posted by LIT on May 25, 2006 at 12:22:14:

I posted a similar post to this on the legal board. I am trying to buy a home with judgments against the owner which are clouding title. If I could buy the judgments from the creditors at a deep discount, how do I then remove them from title? I was thinking of buying the judgements, then forgiving the debt. Does that remove them from title, or does the mere fact that I now own the judgements give me the option of removing them from title? I’ve asked my attorney these questions, and am waiting for a response. I thought I would get your opinions in the meantime.


buying…discounting…same thing - Posted by lukeNC

Posted by lukeNC on May 26, 2006 at 17:54:09:

i’d just try to get them paid off at a big discount…

see what they’ll take to pay them off. Kinda like a short sale…

Re: judgments - Posted by Dan O’Connor

Posted by Dan O’Connor on May 25, 2006 at 14:14:42:

If you’re receiving an Assignment of Judgment, you’ll typically record a Satisfaction of Judgment afterwards.

If you’re negotiating a discount as payment in full on behalf of the debtor, the creditor will typically send the Satisfaction of Judgment.

Who records the Satisfaction varies somewhat depending on whether the creditor is a collection agency, a company or an individual.