Some great opinions here and info. The point I am making is this one.
Borrower A incurs a 200,000 judgment in Detroit with her husband.
Borrower A divorces husband and moves back to Cleveland. Borrower A takes her maiden name. Judgment still shows on her credit report.
Borrower A meets dreamy Borrower B, marries and takes new last name.
Borrower A and B go to buy a house in Cleveland. The title report turns up nothing usual, but the loan officer sees the judgment on the credit report and says nothing, as to not kill his deal.
1. Does the loan officer have a duty to inform the title company of the potential lien?
2. When attorney finds borrower A and refiles the judgment in Cleveland and sees equity in said purchase, he initiates foreclosure. Borrower A files claim on title policy.
Remember it's not a matter of winning your case, it having to shell out the money to prove you are right that matters. How much is your premium?
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