Can't find creditor for judgment
If the title company is holding up your refi and is not helping then tell them to set up an escrow account and you will put the amount owed to them. If they won't tell them you'll sue their a$$ off for holding up something for no reason. (The above is my instinct as a lawyer but with absolutely no experience in this area. lol.)
The Judgment will be a lien until 2028. You could try locating the Bankruptcy Trustee to get a Warrant of Satisfaction. As to threatening the Title Agency with a law suit, I know the answer would be: "Get in line". Instead, ask the Title Agency if it will track down the Trustee and negotiate getting the Warrant.
truth said:
The Judgment will be a lien until 2028. You could try locating the Bankruptcy Trustee to get a Warrant of Satisfaction. As to threatening the Title Agency with a law suit, I know the answer would be: "Get in line". Instead, ask the Title Agency if it will track down the Trustee and negotiate getting the Warrant.
That is likely your best bet. Was it a N.J. company? Was the bankruptcy filed in N.J.? If so, you might get somewhere by calling the clerk of the bankruptcy court and ask for advice. You may end up having to employ a lawyer.
I am not a lawyer.
kthryn,
I know something about this. There are ways to deal with it. If you have an attorney handling your refinance then he or she working with a title insurance company should be able to figure this out. If not find a real estate attorney with experience.
Thanks, everyone. I'm sympathetic to the title company. The mortgage company I'm working with on the refi said they would have the title company sort it out, but how much detective work is it reasonable to expect from them? If nothing happens in the next week or so, I'll get my attorney involved. This has been dragging on for several months.
Wendy mentioned an escrow account. It seems that the court system would have some way of holding the money until the creditor can be located so I can get on with my life. Good thing I'm not trying to buy or sell something.
fjj, this all took place in NJ -- a couple of Russian real-estate developers from Passaic county. Who knows where they are now? Very glad I escaped that transaction.
You did not quite escape they got a judgment and put a cloud on your title to real estate you own. This occurred in 2008 .. this is the first time you have to deal with it?? Even though the original creditors might no longer be operating there is a market for judgments... for exactly this type of situation you are in... you are ready to settle it get a transaction closed.
maplegal said:
You did not quite escape they got a judgment and put a cloud on your title to real estate you own. This occurred in 2008 .. this is the first time you have to deal with it??
Yes, it is. I am finally able to refinance my house and get the cash to pay off the judgment. Have a nice day, *******.
I want to pay, but the company is bankrupt and their attorney is dead. Sounds like a country-western song, doesn't it? The title company is coming up empty-handed and it's holding up my refi. What happens next? Any attorneys have an opinion? Do I need to talk to my lawyer, or can I work this out with the court?