It can be a scary thing to have a judgment placed on your property. But what is a judgment? What is a lien? What does it all mean for the future of that property? There are a lot of questions that come up in situations like this.
The first thing you need to do when there is a judgment on a property is to call Mayflower Judgments. They are professionals with years of experience in dealing with judgments, liens, and any other situation just like this.
Knowing More About Judgment Liens
When a judgment lien is created, it is someone (likely a creditor) winning a lawsuit against the owner of the home. When a judgment on a property is handed down, it gives the creditors the right to take possession of the property in question. That property can be a home, but it can also be a vehicle or even personal property.
There is usually a contract between the debtor and creditor. Should there be a failure to uphold the terms, the creditor can then claim the property as theirs.
Selling a Judgment Property
Sometimes, the quickest and easiest way out of the situation is to simply sell the property. Going through a judgment firm means getting out from underneath the judgment and even getting cash in hand for your property. It is the best-case scenario in what is an otherwise not fun situation but it is a viable solution.
