Posted on: 17th Dec, 2008 08:07 pm
Our carpenter put a lien on our home for supposed "finished" remodel. We have attorneys involved, is it still possible to refinance our mortgage with this kindof lien?
nope mechanics lien needs to be gone first
contact an attorney
contact an attorney
Hi cavetro!
Welcome to forums!
You will not be able to refinance the mortgage if you have a mechanics lien placed against the property. In order to refinance, the holder of the mechanics lien should agree to postpone the lien in favor of the mortgage lender. The lien holder may do this if you pay them at least some portion of the money they owe you. Or else, you will have to pay off the lien holder and get a Lien Release Certificate in order to refinance the property.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
You will not be able to refinance the mortgage if you have a mechanics lien placed against the property. In order to refinance, the holder of the mechanics lien should agree to postpone the lien in favor of the mortgage lender. The lien holder may do this if you pay them at least some portion of the money they owe you. Or else, you will have to pay off the lien holder and get a Lien Release Certificate in order to refinance the property.
Feel free to ask if you have further queries.
Sussane
