Legal Question in Real Estate Law in North Carolina
loans and judgements
my home has a mortage from the bank and a government grant loan for handicap repairs for my husband since he is disabled. also a judgement against the property, my question is can we sell the property because it is to much for us due to our health we both are disabled and our income is low and if we were to get behind on mortage what would happen?
1 Answer from Attorneys
Re: loans and judgements
You can always try to sell your property. Of course, anything constituting a lien on the property will need to be paid off at closing. So if the mortgages, judgments and closing costs exceed the purchase price, then you would have to bring money to the closing. If you still have equity in the house, then you would be okay. If you get behind in the mortgage, the mortgage company could try to foreclose. Seek assistance and advice before you reach that point.
- Jeff
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