Question:

Hello,

I see in the report about $200,000 of personal liens. (approximately). Can you tell me if this number is all secured on the house? There seem to be a number of judgements additionally. Can you please explain what a judgement is in this context? There are several mortgages. I want to make sure that i understand the total mortgage liability on this property.

In the event of a foreclosure auction, I would (i assume ) be purchasing the property from the primary lender. Please confirm that this would leave outstanding, all subsequent mortgages and personal liens? And if this is in fact the case, can you confirm for me what the total outstanding would be (beyond the primary lender’s claim).

One more question: Did the current owner’s personal bankruptcy effect any of these outstanding / open liens, judgements etc? I believe that tax debt is not forgiven in the event of bankruptcy. Is that correct?

Thank you,
Monique

Answer:

Monique,

It appears that the Chapter 13 bankruptcy was dismissed, but a Chapter 11 bankruptcy is currently pending. That means that the answers to your questions depend on the outcome of the Chapter 11 bankruptcy. Since it appears that you are a new client, I am attaching several of the bankruptcy reports as a courtesy for your information and review. Please note that, yes, in a Chapter 7 bankruptcy, generally judgments are discharged but tax liens are not. However, this is not a Chapter 7 bankruptcy and please be advised that we are research consultants and not attorneys who provide legal opinions or advice.

I only see one current mortgage in 2005 for an original private party loan of $835,000 which was assigned from Charles J. Flynn to MMB First Mortgage Fund LP and recorded on November 27, 2006. A Notice of Trustee Sale was filed on June 27, 2017 however that proceedings may be stayed as a result of the pending bankruptcy.

We suggest contacting the bankruptcy attorney for more information. You will find his name and contact information in the attachments. Please let us know if you have additional questions.

Thank you,

Jeannie B.
Client Services
www.UsTitleRecords.com