Tuesday, August 24, 2010

Will a person have a hard time buying a home if they were sued and lost the small claims case.?

I sued someone and now they are trying to close a real estate deal. A title Abstract company called and asked about our court case I won. So does this mean he cant buy the home unless he pays me?Will a person have a hard time buying a home if they were sued and lost the small claims case.?
You got a ';default judgment'; and put a lien on this guys property - His title company called and asked about the judgment, because unless he pays you the money you won - he cannot legally sell the house. He can buy houses all day long, but until he pays you - he can't sell. The title company will probably issue you a check, and have you sign a waiver that releases the lien against this fellows property.Will a person have a hard time buying a home if they were sued and lost the small claims case.?
How long it has been since the court gave his or her decision? What are the orders of the court? If the court ordered him to pay in such a day, say 30 days from the courts decision he has to oblige or he will be found guilty of contempt of court and will be assessed more fine and penalty or go to jail. He can't mess with a court. If he doesn't pay on the appointment time, take him again to court, hopefully he pays attention. Most lenders only check the credit score unless there is a deregatory remark in his credit that the only time they checked everything. They checked if you have income, good credit history, a good credit score of 700+, 20% downpayment, if they have other homes, their bills, debt to income ratio. Just because he wants to buy house doesn't necessarily mean he can afford it and be approved by the lenders. Banks and lenders are tough approving any loans nowadays.

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