Urgent: Buying delinquent note after final judgement
I have my attorneys looking into this now, but could use some of your collective insight and advice on this one.
I've negotiated to buy a non performing 1st private mortgage. The lender has already obtained a final judgement 8 years ago, but does not want to go through the hassle of foreclosing on the property in order to get the deed.
What's the proper procedure here in Florida? I've heard that the final judgement somehow "wipes out" the note. Are we negotiating to purchase the note, or the "final judgement" from the lender. We don't have much time to sort this out.