Q: If defendants in foreclosure sale case sign a stipulation consenting to judgement will credit be affected?
I was named an heir (one of nine children) in my mother's Florida condominium after her death.
Her then husband claimed Florida Homestead rights and was awarded rights to the condo until his death, after which the property would go to the remaining heirs.
The property was abandoned without notifying anyone after water damage was incurred. The Condominium Owners Association went ahead and performed the repairs,
without notifying any of the owners. Also, many months of condo fees built up by the time any of the remaining heirs were notified by a collection agency that a lien would be placed on the property if a large payment sum was not paid.
Since none of the remaining heirs is in a financial position to pay, all were served with lawsuit papers and a lien foreclosure sale is being sought.
A: If you were named in a lawsuit, yes, chances are that your credit rating will be affected.
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