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Thank you, Why Chat, and what if....then what?


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Posted by Barbara (65.241.112.83) on September 04, 2002 at 23:48:33:

In Reply to: Re: Lien inquiry....and settling judgement? posted by Why Chat on September 04, 2002 at 17:10:55:

Thank you so much for your response. I can see what you mean. I won't give them any encouragement. I will follow the suggestion you made in an earlier post that when the balloon payment is due on this home in 1 1/2 years, that I have my daughter loan us the money over a l-o-n-g period of time (30 years?!), and will use a realty attorney to make sure we are legally covered.

If there is no lien on this property due to the entirety thing, then what would happen if we should want or need to sell our home during the judgement time? Might there be any repercussions with the judgement, or the CA who obtained it? It seems like the safest thing would be to wait out the judgement another 8 years, and see what happens, but if we HAVE to sell it, would this be possible without having to satisfy the judgement? Or would selling our home cause another whole set of problems? We don't have any plans to do this, but we don't know what the future holds. If my husband should pass away, then the judgement creditor can take the house because it would be mine alone. I just want to know my options so that I can make the best decisions right now to best plan our/my future during these near-senior years.

As always, my heart is truly touched with your caring efforts on behalf of all of us going through such stressful times....thank you...
Barbara


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