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Re: Mortgage question

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Posted by Why Chat ( on June 05, 2004 at 21:39:26:

In Reply to: Mortgage question posted by Mortgage info on June 05, 2004 at 14:14:36:

If they already have perfected the judgment and recorded it in your County as a lien against your home, any NEW mortgage would be "behind" it in interest.

The Wash. State exemption for your homestead is $40,000, this would be your net equity after your existing mortgages based on the "distress sale" value of your home. You can figure rule of thumb, your current tax assessment value minus 15 %.

A judgment in Wash. is good for 10 years, and is not, to my knowledge renewable.

You may be able to just tough it out for the balance of the time if you don't need to sell or refiance.

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