Asked by: Matheus Tsigleevbusiness and finance bankruptcy
What does Judgement amount mean in sheriff sale?
Last Updated: 5th January, 2020
Click to see full answer.
Also question is, what does Judgement amount mean?
The final judgment amount in a foreclosure case is how much money is owed on the foreclosed property. This amount could include how much is left unpaid on the mortgage and any fees accrued during the foreclosure process. Fees may include unpaid interest and legal costs.
Beside above, are sheriff sales a good deal? Buying foreclosed property at a sheriff's sale is one way to get a great deal on an investment property. There are several rules for this type of sale and understanding them can help you make an educated – and perhaps lucrative – purchase.
Simply so, what does Judgement mean in sheriff sale?
A sheriff's sale can happen when a homeowner doesn't pay his debts. If your creditor gets a court judgment against you over an unpaid bill, he can foreclose. Part of the process is the sheriff for your county arranging to sell the house at auction.
What is the difference between a sheriff sale and foreclosure?
At a foreclosure auction, a lender is selling a property it repossessed, whereas in a sheriff sale, the property was repossessed by a lender through court-ordered means. California operates a system of non-judicial foreclosure which means the lender does not need a court order to seize and sell your home.