abstract judgement

Submitted by Ed from CA - 05/19/2010 - 5:31pm

Hello,
I'm looking at a property where it appears the owner took out a a loan and then an abstract judgement was placed and he refinanced. Does the refinanced trust deed have seniority and wipe off the abstract judgement?

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Comments

Submitted by Sean - 05/23/2010 - 7:48pm

No, if the refinance was recorded after the abstract of judgment it is likely subordinate and will have to be paid. Lenders got really sloppy at the peak, so it is important to watch for these things.

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