Re: debt collector forecloses homestead
Posted by Jerry - Ca. on July 19, 2008 at 11:16:26:
In Reply to: Re: debt collector forecloses homestead
Posted by cindy on July 19, 2008 at 08:50:06:
Cindy... As N.J.Dave said get a lawyer. You case seems rather straight forward from a legal standpoint and I don't understand why any general practioner of law can't help you.
Some opinions ... not legal advice ... liens generally have to be renewed every 10 years to remain in force ... it is surprisng to me that the auto dealership would have done this!
$16,000. is way over the small claims court jurisdicional limit ... so the case had to go to Superior court. ANY court is going to require "proof of service" of the hearing or trial ... if you actually did not get notification ... it's grounds for reversal of the defalut judgment!
As far as Homesteads go ... they do not stop foreclosure of the asset property from lienors ... only lets the owner keep "X" number of dollars exempt from the lienor ... who will then go after your cash proceeds from the foreclosure hoestead exemption payment! So yes, the lienor can perfect their lien by forcing sale of the asset property ... but this must go through an expensive judicial foreclosure process which may not be cost effective for the lienor to pursue! Also ... if you son's house has little or no equity ... and the homestead exemption ... ther probably isn't enough money to pursue the foreclosure either! They may just be threatening or trying to intimidate you with no "real course of monetary collection" against you. The foreclosure process will take months to happen if at all ... so don't be worried that it's the weekend ... you have plenty of time to get legal aid!
Jerry-Ca.
Real Estate Consortium
www.REConsortium.com
Follow Ups:
- Re: debt collector forecloses homestead - cindy 11:51:29 07/19/08
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- Re: debt collector forecloses homestead - Jerry - Ca. 14:24:53 07/20/08
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