Foreclosure

[SJest2]

What is the name of your state (only U.S. law)? Connecticut
I have an old credit card debt ($14,000) that I acquired while going through a horrific divorce 8 - 9 years ago. Chase Bank sold the debt to a collection company last year. They immediately sold it to CUDA & Associates represented by an attorney in New Haven, CT. They got a judgment lien against my house that I was not too concerned about because I knew they would get paid when the house is eventually sold. CUDA & Associates then sold the lien to Lienfactors, LLC at the same address in New Haven, represented by the same attorney. They are now foreclosing on my house.

I have made them a cash offer of $6,000 and they refuse to budge. I have three young children and over $500,000 worth of equity in my home, and I am going to lose it all and be out on the street over a credit card debt that I shood have never had to begin with. Can someone please help me. I am desperate. I have people calling my home telling me that they saw my house on foreclosures.com and there have been men waiting outside my home when my children get off the school bus, asking them if they live in the house.

[divona2000]

Originally Posted by SJest2

... I have...over $500,000 worth of equity in my home, and I am going to lose it all and be out on the street over a credit card debt...

They got a judgment lien against my house that I was not too concerned about because I knew they would get paid when the house is eventually sold.

You have over $500,000 in home equity and can't get a small loan to pay off this credit debt?

Then sell it!

[HUD-1]

They spent time and money getting this lien on the property. They now see equity and the fact that they will be paid off in full if they force a foreclosure. The time to deal with them on a short payoff was eight years ago. Its now time to pay the debt. Credit has tightened, but you may want to look into a HELOC or Home equity loan.