Need some FAST help! - Posted by Kristy-AZ
Posted by Kristy-AZ on July 22, 2004 at 21:42:08:
Here’s the situation.
I am working as the REaltor on this one. I listed and sold the house, it’s in escrow (pre-foreclosure) got the pre-lim from Title Co last week. There is a judgement on the parents from 2000. The parents co-signed the loan for the kids.
The kids (who I am working for) did not know about this, the parents can’t afford to payoff the judgement (they have their own house) and the kids may end up having to pay to sell the house, which of course they won’t do.
I had asked the Title Co, last week if we could call the attorney and get a partial release, since the parents own their own home. She told me we could get the homestead exemption, but I was concerned, because you have to be the PRIMARY owner to get that exemption. She (title) said it would be no problem. Well…today I get a call from her, saying the parents have to be the PRIMARY occupants to get the homestead exemption, so we can’t do it and the judgement will have to be paid off.
So here I am a week away from closing, I have already put money into this deal as far as repairs that needed to be done and now I can’t get this judgement off my clients house. The judgement even has the parents address on it!And it has to do with the PArents company, and the defendant was an employee that was injured.
Will somebody PLEASE help me on this! Who do I need to call, and what do I need to do. The title company is not one I normally use, but is affiliated with my regular one. They all told me the escrow officer was great at this location, but now, I am begining to wonder, because I felt she was wrong in the first place.
Kristine, JT or anyone who’s dealt with this, please get me in the right direction here. I really need to close on this house too.