My home is being foreclosed on; the court date is this Thursday August 8th in Sandoval county. The attorney representing the bank has sent me a Stipulate and Default Judgment. An attorney locally advised me to offer to stipulate to a judgment. I need to know if this document is what he was referring to.
Country relating to Question: United States
State (if USA): New Mexico
I talked to a local lawyer and he advised me to ask the bank attorney to allow me to submit to a judgement. There is nothing I can do to save the house. I don't have the money.
Hello,Thank you for using JA. Yes, the document you received is the stipulation to a judgment he was referring to. Essentially it means that you are agreeing to the entry of a judgment of Foreclosure being entered and it will speed up the process for the lender as they do not have to go through the entire process of a trial to prove the Loan is in default. It will serve to cut down the amount of any legal fees that the lender will incur in the foreclosure that you may be liable for if they seek a deficiency judgment if the house doesn't sell for what is owed on it..
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13 yrs practice, Realtor, Landlord 24+ yrs
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