If a creditor secures a court-ordered judgment against you, the creditor can put a lien on your property. The claim gives the creditor an interest in the property. The property cannot be sold until the claim is satisfied. In the event of a sale, the creditor is paid first before the titular owner receives any proceeds. In some cases, the judgment on property grants the creditor the right to force a sale in order for the creditor’s debt to be satisfied. A judgment on property helps the creditor satisfy the debt owing. This can happen in several ways. The debtor can pay the creditor in full, of course. On the other hand, if the property is sold in foreclosure, the judgment lien must be paid before you receive any money or, the creditor can force you to sell the property.
A judgment lien gives the creditor the right to dispose of the property titled in your name. The lien is created when the court awards the plaintiff an award against the property in question. Once a property is attached, the creditor has the right to take possession of the property and sell it on the open market. Because of the complexity of disposing of the property for cash, many creditors turn to Mayflower Judgments. Mayflower Judgments offer solutions. They buy the judgment for cash, enabling the original creditor to receive the money due with little or no problem.
Selling a judgment lien on real property is not difficult. Once the company has been contacted, a property evaluator will review the judgment. Once a few assessments have been made, the company will provide the creditor with a no-obligation proposal. The proposal lays out the terms, including the price the company is prepared to offer. If the offer is accepted, the process can be completed quickly. As the creditor, you can expect to see your money within a matter of days.
