Legal Question in Real Estate Law in Massachusetts
L live in Massachusetts. I received a sheriffs notice of execution for a creditor (credit card debt) and I also noticed that it was attached to my property record when I looked online. I have a homestead on my property and it was recorded prior to the executition. My home is not worth even close to the homestead limit. I am worried I might lose my home can they put an execution against my property.
2 Answers from Attorneys
If you do not have more than $500,000 in equity in your home, the lien cannot be foreclosed against your home and they cannot force the sale of your home, if you have a properly filed homestead. The lien will stay there earning 12% interest until paid or the judgment is paid or expires.
A writ of execution is a the recording of a lien on your home. It means if you sell the home the credit card company will attempt to collect its judgment against the proceeds.
You may want to contact a bankruptcy attorney about your options in dealing with your debt and getting the lien removed altogether. I am not a bankruptcy attorney.
Good Luck
I agree with attorney Roth completely.
You may want to speak with a bankruptcy attorney concerning your overall financial situation. You may also want to speak with a consumer debt defense attorney to see if you can get this debt compromised and settled on your behalf and removed from your property. Feel free to contact our office if you would like to discuss your options.
Chris Vaughn-Martel
Tel. 617-357-4898
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