Legal Question in Real Estate Law in New York

Judgements and closings

My husband and I were approved for a home equity line of credit. We own a home worth approx.$130000.00. After signing and sending back the agreement,the bank ran a title search and a judgement came up on my husband and I from a former landlord dating back to 1994 in the amount of $1720.00. Long story short,my attorney called her at work and she agreed over the phone to settle for $1500.00 and then faxed her the information she needs to sign and have notorized and send off to the bank so we can close. She hasn't sent the paperwork and is not responding to any correspondence from my attorney. The bank has extended our agreement for another month, but we don't know what to do next to avoid a court case which could take a while. Could you please give advice?


Asked on 10/01/03, 1:48 pm

3 Answers from Attorneys
Daniel Clement Law Offices of Daniel Clement

Re: Judgements and closings

Have the bank escrow the amount of the judgment or make a motion to vacate the judgment. Your attorney should be aware of these solutions.

Daniel Clement

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Answered on 10/01/03, 2:02 pm
Arnold Nager Arnold H. Nager, Esquire

Re: Judgements and closings

The bank should allow you to place an amount in escrow adequate to cover the amount of the judgment plus interest. This is sometimes done at the closing.

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Answered on 10/01/03, 2:31 pm
David Slater David P. Slater, Esq.

Re: Judgements and closings

Your question indicates you have an attorney representing you. Have you thought of asking him for advice?

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Answered on 10/01/03, 2:59 pm


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