Can creditors put a lien on personal property?

hi flinhog:

the mortgage company can foreclose your home. however, if you have good credit you can try getting a second mortgage to pay off the first. you can also try talking to the mortgage company to agree to a repayment plan. if you had always been a regular payer, the company may agree to your request.

however, if you have a substantial equity in your house, then the lender may not agree to your request, since by foreclosing your home they will be able to get back their loan balance, additional interests, and foreclosure expenses.

von:

can you tell whether or not you have a written agreement against this lending?

thanks

Hi von,

If this is a written agreement then you can put a lien on the condo. However, if your's is an unwritten deal, you will have to first file a lawsuit against the borrower. If you win the case, and a judgment is entered against the borrower, you can put a lien against his property.

Thanks,

Lydia

I'm afraid Lydia's answer is too simplistic. In order for you to file a lien, you'll need a judgment in court. Having an agreement in place isn't relevant here. Unless you have a document that grants you a lien, you can't arbitrarily place one. Her second thought, about obtaining a judgment, is more appropriate to your situation.

I was told that a creditor can put a lien on your house but as what banker0679 have mentioned it depends on what state you reside.check with the local bar association see if your state has a homestead protection from creditors. This is how I found out about a lien that was put on my property and all I did was file a notice of homestead. I did not get any summons or notice that I was being sued last year.Creditors are sneaky.Know your rights

Hi, can someone help me please? My boyfriend and I own a home together. We are both on the mortgage. He has gotten a judgement against him for an old credit card. Can they take our house? Also we live in South Carolina I have read that they can't take our primary residence or garnish his wages is this true?

can a creditor put a lien on a moblie home that is not on land..but a park?
Thanks

Hi Angel,

The creditor can place a lien on the property in order to recover the dues if your boyfriend's name is mentioned on the property deed. As far as wage garnishments are concerned, the lender will go ahead with it only if he finds that there is no other means to recover his dues.

Hi Rose,

Creditor can place a lien on a mobile home though it is located in a park. However, in order to do so, the creditor will have a file a lawsuit and get a judgment against the borrower.

Thanks

I own a property in CA and one in GA. Each are governed by separate motgages in each state, but by the same mortgagee bank. I am unable to sell the CA and therefore opted for a deed in lieui of forclosure. I plan to hand the keys over to the mortgagee and then relocate to GA. My GA mortgage is up to date but the CA one is not. If the mortgagee bank sells the CA propperty can they sue me for the balance of the debt and then obtain judgement to place a lien on my GA property, which is governed by a separate mortgage contract?

My fiance and I are purchasing a home. I am the one getting the loan for our house and want to put him on the title. If he has any outstanding debts could a lien be put on our property if he is only on the title? Thanks

Hi Leroy,

As both the properties are located in two different states, there are less chances that the lender will come after your GA property to recover the deficient balance resulting from the sale of the property in CA. In order to place a lien on your GA property, the lender will have to file a lawsuit against you and get a judgment.

Hi Mo,

If your fiancé has any outstanding debts, then his creditors will be able to put a lien on your property if you add him to the title.

Take care.

Thanks so much for your thoughts on the GA and Ca property liens. Given your comment regarding the lender seeking a judgment against me, is it correct to state that such a judgment can be intiated only in CA where the deficient balance remains on the CA debt? Is it likely that the lender can also initiate a lawsuit and seek to obtain judgment on me in GA?

Hi Leroy!

Welcome to forums!

If the lender based in CA wants to place a lien on your GA property, then he will have to file a lawsuit against you in the court of GA. If he gets the judgment against you, then he will be able to place a lien on your GA property.

Feel free to ask if you've further queries.

Sussane

i have a home and land that i have had for 20 years paid for it is my homestead i got sued several years back on some personel guarentees i signed for my buisiness they took me to court and won a 169,000 dollar judgement they filed it in the county of record where i live i recently applied for a home equilty loan the judgement shows up if my bank had to forclose on me would they be number one lien since they did a home equilty loan sercured by my place or would the judgement be in number 1 lien spot please advise thanks craig

hi craig,

as the judgment was filed prior to the home equity loan, the judgment will be the first lien on your property. the home equity loan will be subordinate to it.

thanks

I received a letter from my county clerk statign they were notifying me about a lien placed against my property. I didn't even have a court date, didn't know they could do this. What should I do?