Posted on: 23rd May, 2008 08:41 pm
if I sold my house on a short sale,but I have another property, can they put a lean on my property?
No, a short sale is the lender accepting a lower payoff on the mortgage as payment in full.
Welcome roaalbina,
If the mortgage company or the bank forgives the deficit amount after selling the property then the company will not put lien on your property. But if the mortgage company don't forgive the deficit amount then they have definitely have the right to put lien on your other property and it is your obligation to pay it off.
Let me know if you have any further question.
If the mortgage company or the bank forgives the deficit amount after selling the property then the company will not put lien on your property. But if the mortgage company don't forgive the deficit amount then they have definitely have the right to put lien on your other property and it is your obligation to pay it off.
Let me know if you have any further question.
If i buy a condo thats is going through short sale and the previous owner has filled bankrupcy in the prior years, am i responsible for any leans on the house?
does the bank need to know about any leans on my house before i put it up for sale?
Hi anna!
You will not be responsible for the liens on the property. But if there are liens on the property, you will have to make an agreement with the seller and make the seller pay off the liens. Yes, when the bank will do a title check, it will come to know about the liens. And the lender will not give you loan if you have liens on the property. You will have to first pay off the liens.
Thanks.
You will not be responsible for the liens on the property. But if there are liens on the property, you will have to make an agreement with the seller and make the seller pay off the liens. Yes, when the bank will do a title check, it will come to know about the liens. And the lender will not give you loan if you have liens on the property. You will have to first pay off the liens.
Thanks.
My Son is a professional painter and is under contract with a client who he can not seem to get his last payment of 3000.00 frome him. can he put a lean on his property and how does this work. he is building this house to live in and is not completly finished. How does this work?
Hi
I believe this is quite possible. Your son can get the money from his client. I think he should file a small claims suit with the small claims court. This, I think, is the best way to get the money from someone who is not paying what he owes you.
I believe this is quite possible. Your son can get the money from his client. I think he should file a small claims suit with the small claims court. This, I think, is the best way to get the money from someone who is not paying what he owes you.
It is called a construction lien. He should hire an attorney to help with this process to be sure it was done properly.
Can a credit card company put a lean on a property that is under the homestead tax exemption in the state of Florida? The credit card debt is being settle with a debt collection agency.
Hi florida,
A credit card company can put a lien on your property. But if the home is your primary residence, you can protect your property from liens due to credit card debts under Florida homestead protection. You can protect your property, provided it does not exceed the .5 acre limit within a municipality or 160 acres outside of a municipality. However, you should keep in mind that your property is not protected from Govt. tax liens, mortgage and mechanics liens under homestead protection.
A credit card company can put a lien on your property. But if the home is your primary residence, you can protect your property from liens due to credit card debts under Florida homestead protection. You can protect your property, provided it does not exceed the .5 acre limit within a municipality or 160 acres outside of a municipality. However, you should keep in mind that your property is not protected from Govt. tax liens, mortgage and mechanics liens under homestead protection.
Trying to get my mortgage modifyied. The mortgage company stated "they have put a lean on the house to protect it from foreclosure". Does this make sense?
To staci,
" The mortgage company stated "they have put a lean on the house to protect it from foreclosure". Does this make sense?"
It does not make any sense to me. It is true that the mortgage company holds a lien to your property for the mortgage. But it does not protect you from foreclosure. Instead the lien allows the mortgage company to foreclose your property if in case it you default on the loan.
" The mortgage company stated "they have put a lean on the house to protect it from foreclosure". Does this make sense?"
It does not make any sense to me. It is true that the mortgage company holds a lien to your property for the mortgage. But it does not protect you from foreclosure. Instead the lien allows the mortgage company to foreclose your property if in case it you default on the loan.
i'm in agreement with savior. this lien they speak of makes no sense, as your mortgage is the only lien they'd need. it might be worth your while to go to the land records and do your own research to see what's there.
