Legal Question in Real Estate Law in Massachusetts
Hi. What would happen to the judgement and / or lien against my property after it has been foreclosed?
2 Answers from Attorneys
Liens/Mortgages are ordered by the time they were recorded. Assuming the mortgage was put on the property before the lien. When the foreclosure occures the lien usually goes away because at the foreclosure sale the bank does not get enough money to cover their mortgage never mind paying a lien. The lien then becomes no good. If there is a judgement against you they can put a lien on the next piece of property you own. Judgements are usuall good against someone for twenty years.
If the lien that is foreclosed was recorded prior to the judgment lien, the lien that foreclosed wipes out the later liens on title.
However, judgments are good for 20 years and therefore the judgment holder can garnish your wages or lien your next home you own.
If you want to permanently get rid of the judgment lien, you need to settle with the judgment holder or file bankruptcy.