How we helped an elderly homeowner clear a 40-year-old judgment lien and close on schedule.
Mrs. Thompson, 78, had lived in her Raleigh home for 42 years. When she decided to downsize and listed her home for sale, the title search revealed a $15,000 judgment lien from 1983—a debt she had no knowledge of. The closing was 30 days away.
The judgment was filed against the previous owner (the original homeowner) and never properly discharged. Finding documentation from 40 years ago proved difficult. Without resolution, the sale couldn't close and Mrs. Thompson faced the prospect of keeping a home she was ready to leave.
We worked with the title company to research county records, locate the original creditor's successors, and negotiate a settlement. In many cases, old judgments can be satisfied for a fraction of the balance—especially when the original creditor no longer exists.
We negotiated the $15,000 lien down to $2,500 and facilitated payment. The title company issued a clean title policy, and the closing happened on schedule—14 days after we got involved.