How Do I Collect A Judgement Now That Person In Foreclosure?
I have a $3000 judgement against a past tenant. Well, I got legal papers the other day that says that tenant is in foreclosure and that I can try to get that money. How do I do that?
Well, there would have to be equity in the property so that it sold for more than the underlying liens on it that were ahead of yours.
You should contact the foreclosing attorney and make your interest known and probably contact a local attorney to see if there are specific steps to be taken.
Find out where the property is, look at the county records and see what the liens are that are recorded against it and have an agent comp the property to see if there is any equity in the property.
Otherwise your out of luck for this one....
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"Chance favors the prepared mind..."Louis Pasteur & Randall Wall
Randall Wall[ Edited by Stockpro99 on Date 03/10/2007 ]
immediately record an abstract of your judgment at the county recorders office where the house that is being foreclosed on is located.
Robert, the papers you received probably named you as a defendent in the foreclosure. As such, you have a claim on surplus funds if the property sells at the Courthouse for more than the foreclosure judgment amount.
Even if your judgment is foreclosed out against this property, you still own the judgment. Have you looked into having the Sheriff sieze a vehicle or other property and holding an auction to satisfy your judgment?
[addsig]