A judgment creditor can file the judgment as a lien on real property owned
by the defendant. Examples of real property would be a house or a condominium.
At the time that Defendant attempts to sell or refinance the real property,
the lien would need to be addressed prior to the completion of the transaction.
In situations where a real estate transaction is pending, the creditor
might be more inclined to demand repayment in full as opposed to negotiating
a settlement. With judgment interest accruing at a statutory rate of 9%,
the debt balance can grow substantially over time. If the borrower might
sell or refinance the real estate, it may be prudent to resolve the judgment
and obtain a property lien release priorthereto.
Need Help Resolving A Judgment Lien?
An attorney can help you understand your options to resolve the judgment
lien, which might include fighting to re-open the case in court and/or
settlement of the balance for a reduced amount. Call today or use the
form below to request you free evaluation and learn how our lawyers help
with judgment liens.