Judgement After Foreclosure?

04-15-2005, 12:16 AM

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Join Date: Jun 2004

Posts: 7

Judgement After Foreclosure?

What is the name of your state?New Jersey
My parents are trying to sell a Lot they have had for about 15 years. We are running into a problem in that they had a foreclosure in 1996, and for whatever reason, after the foreclosure there was a judgement placed against them for the whole amount of the mortgage even though it sold at auction. This is not a deficiancy judgement, because it is for the whole amount owed. Shouldn't this have been satisfied once the home was foreclosed on? I can't figure out why the Bank would go after a judgement after they got the house? It doesn't make sense and it is causing a lot of problems, in that we can't sell the lot! Is there a statue of Limitations that they have to collect this? Any ideas are appreciated!
Thanks,
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