How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask KimberlyLaw Your Own Question

KimberlyLaw
KimberlyLaw, Attorney
Category: Legal
Satisfied Customers: 3817
Experience:  10 years of legal experience in various fields of law.
8989662
Type Your Legal Question Here...
KimberlyLaw is online now
A new question is answered every 9 seconds

I am in New Jersey. In 1998 a judgment was issued against ...

Customer Question

I am in New Jersey. In 1998 a judgment was issued against me regarding a hospital stay. It has come up in conjunction with a loan for which I applied. They are requesting a payoff of over $22,000. What is the statute of limitations for enforcing? The loan is a mortgage on my house. The escrow attorney held back $32,000 until I can resolve. Can the escrow company just hold the money until I pay off mortgage (should be less than one year). If not what is a reasonable settlement that I might expect? Can the judgment be renewed?
Submitted: 6 years ago.
Category: Legal
Expert:  KimberlyLaw replied 6 years ago.

Hello, I am happy to answer your question.

I need to know a bit more information. How exactly did the 1998 judgment come up regarding the mortgage on your house? Was there a lien placed on the house? Who is requesting the payoff of $22,000, the bank regarding the mortgage or the hospital?

Also, who is holding the funds in escrow? Was this a result of the closing on the loan for the house? Am i correct that these funds were never fully released to you at the closing of the loan because of this other judgment?

Thanks,

Kimberly

Customer: replied 6 years ago.
Hi Courtney,

The judgment is the result of a hospital bill that I could not pay. The title company search uncovered the judgment. They asked me for permission to inquire further and to get a payoff amount. The attorney representing the bank (Chase) is holding the money in escrow. They has sent a check (due today) for the balance of the loan.
Expert:  KimberlyLaw replied 6 years ago.

Ok, so the problem here is that the bank is not obligated to give you the loan, if they feel that you are a credit risk. Even though this judgment has nothing to do with the loan, they feel that you will not be able to pay back the loan to them if you have financial trouble due to that judgment.

So, they are within their rights to hold the funds in escrow. They can even just cancel the deal if they want.

Now, whether the judgement can be renewed is a separate question. Probably not since it is so old. You can, however, always work with them and make arrangments as long as they agree in writing. You have to keep in mind that they can always enforce the original judgment if you stop paying, so you have to keep up with whatever you agree to. In the end, if you want to pay more and pay it off sooner, they should have no problem with that.

I hope this was helpful and good luck.

Kimberly

KimberlyLaw, Attorney
Category: Legal
Satisfied Customers: 3817
Experience: 10 years of legal experience in various fields of law.
KimberlyLaw and 5 other Legal Specialists are ready to help you
Customer: replied 6 years ago.
The bank already gave me the loan and sent most of the proceeds. I still have these questions from my original posting.

What is the statute of limitations for enforcing? Can the escrow company just hold the money until I pay off mortgage (should be less than one year).
Customer: replied 6 years ago.
I clicked the accept but I would appreciate if you would answer the followup question.

Thanks,
John
Expert:  KimberlyLaw replied 6 years ago.

Ok, please see above regarding the escrow. As I explained, yes they make hold this escrow.

Regarding the statute of limitations, they are also still within their rights to collect for 20 years:

2A:14-5. 20 years; judgments
A judgment in any court of record in this state may be revived by proper proceedings or an action at law may be commenced thereon within 20 years next after the date thereof, but not thereafter. An action may be commenced on a judgment obtained in any other state or country within 20 years next after the date thereof or within the period in which a like action might be brought thereon in that state or country, whichever period is shorter, but not thereafter.

Take care,

Kimberly

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it. Lee Michigan
 
 
 

Meet The Experts:

 
 
 
  • Tina

    Lawyer

    Satisfied Customers:

    8436
    JD, BBA Over 25 years legal and business experience.
< Last | Next >
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8436
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/RA/ratioscripta/2012-6-13_2955_foto3.64x64.jpg Ely's Avatar

    Ely

    Counselor at Law

    Satisfied Customers:

    19941
    Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    8189
    25 years of experience helping people like you.
  • http://ww2.justanswer.com/uploads/jespoag/2008-12-17_222355_jessepic.jpg JPEsq's Avatar

    JPEsq

    Attorney

    Satisfied Customers:

    2132
    Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor
  • http://ww2.justanswer.com/uploads/gsenmartin/2008-04-22_214950_me1.jpg Guillermo J. Senmartin, Esq.'s Avatar

    Guillermo J. Senmartin, Esq.

    Attorney

    Satisfied Customers:

    110
    7+ years of experience handling various legal matters.
  • http://ww2.justanswer.com/uploads/PA/PaulmoJD/2013-10-10_195858_JAImage.64x64.jpg Law Educator, Esq.'s Avatar

    Law Educator, Esq.

    Attorney

    Satisfied Customers:

    31621
    JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    15975
    Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
 
 
 

Related Legal Questions

Chat Now With A Lawyer
KimberlyLaw
KimberlyLaw
948 Satisfied Customers
10 years of legal experience in various fields of law.