"Judgment to pay" or Foreclosure?

Started by MarkW2 • 1 replies • 1327 views

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MarkW2 (Texas)
Posts: 2

Posted:

In dealing with dues in arears can someone explain the pros and cons of these two for a North Texas HOA collections effort?

I know a Judgment to pay is through a JoP. And a foreclosure must go through district court.

Other then that I was curious to know if a Judgment to pay will affect credit scores, impede refinancing, sale of the home or ???

Thanks in advance for the help.

KirkW1 (Texas)
Posts: 1,665

Posted:

A judgment can affect a credit score if you pay to have it placed in the person's credit record. My understanding is that you can also present the judgment order to a bank in which the person has money deposited and get said money. I don't know all the details on how that works. A judgment is against a person and not property though.

A lien will prevent the sale or transfer of the property. It paves the way for foreclosure.

In Texas a foreclosure does not require a judicial proceeding. But it is limited to assessments. To start foreclosure, you must have a lien in place though I don't know how long it must be there.

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