Sentences with word «lien»

A lien is a legal claim that allows a person or organization (called a lienholder) to hold onto someone else's property until a debt or obligation is fulfilled. Essentially, it means that if you owe money or have some kind of unpaid responsibility, the lienholder has the right to keep your property until you resolve the issue. Full definition
This might be an expensive lesson in tax liens on my part, but I am learning more and more every day.
But I only want to put tax lien on property that has 2 - 5 % rent - to - price ratio per month in case that I do win the property over.
In essence, living benefits act as a type of lien against the life insurance policy.
If there's a second mortgage on the property, it can take additional time to get both the first and second lien holders in agreement.
If there were no mortgage or other type of lien on the house, the homeowner would have $ 100,000 in equity.
Private and corporate investors have turned to tax liens as a way to earn easy money in interest.
I've been buying tax liens in the area for several years and have even checked out a few foreclosures.
My plan is just the interest on tax lien for now.
Lenders may also place liens on the borrower's assets, meaning that the borrower can not sell the assets without paying the lender first.
Loan secured by a first lien against a single family home.
This is against the spirit of the program, but second lien holders are within their rights to deny the refinance.
You want to talk about construction liens because that's your star practice area.
Eventually, the corporation filed liens against the owner's unit for unpaid common expenses and legal fees.
Closing an auto claim with lien holder without collecting a claim check because of bankruptcy?
For example, filing for chapter 7 will not remove the mortgage lien from your house.
A short sale is when the net proceeds from selling the property fall short of the debts secured by liens against the property.
It prevents them from any further contact to seize property, recovery money, or put liens on your property.
Even as the market has changed, we continue to provide bad credit second mortgage liens for consumers with impaired credit!
You may also want to avoid other liens as well.
Lines over $ 250,000 in first lien position may require title insurance.
The new guidelines removed liens and judgments from approximately seven percent of the population.
This is often raised in proceedings involving lien claims, if only to give the owner a little bit of negotiating leverage.
A deed in lieu of foreclosure does not protect your credit, nor will it cut off the rights of junior lien holders.
2 Your current mortgage (s) and any other existing liens against the property, must be paid off at or before closing.
With these types of loans, homeowners assume another property lien to gain access to affordable financing based on the equity value of their homes.
Others factors, such as income, registered liens, also play an important role.
To put it another way, you qualify for lien stripping in chapter 13 bankruptcy if an appraisal shows you owe more on your first mortgage than your home is worth.
Our mission is to provide homeowners with an alternative to refinancing their 1st lien by means of low rate 2nd loan financing.
During the negotiation process the 2nd lien holder is offered $ 5000 in order to approve the short sale and allow the sale to take place.
If you have a tax lien at 18 % it is treated like a penalty and the second six months it is another 18 % yielding a total of 36 % per annum.
Federal tax liens do attach to the real property owned by the borrower wherever the property is located.
When pursuing a reverse mortgage, any existing mortgages will need to be satisfied so that the new mortgage is the only lien attached to the property.
These claims are known as mechanics liens in some parts of the country.
We also provide services to many condominium corporate clients and condominium unit owners, managers and developers with respect to the legal and practical aspects of condominium living, including lien registrations.
Finally, applicants should be aware that not all banks guarantee acceptance, so those with outstanding liens or a recent bankruptcy will not qualify for some of these cards.
Lenders are usually concerned about financial liabilities and liens when there's business crossover with your residence.
A 1st lien loan is a quick way to get cash using your car as collateral.
Many alternative lenders are okay with liens under a certain size.
If you have an unsecured debt (such as a credit card) that went unpaid and a creditor received a judgment, that creditor could put a judgment lien on your home.
Then you are responsible to pay off the Senior lien holders.
There are medical liens filed by doctors or your health insurer is claiming a right of reimbursement for bills they paid.
In the case of a refinance debt consolidation loan, funds from the loan can not be used to pay liens or judgments.
Most traditional lenders, and even many alternative lenders, require collateral or a blanket lien on business assets from small business owners applying for a loan.
They will likely require a general lien on business assets and a personal guarantee to secure the loan during the loan term.
The municipal lien search is one of the items in the closing costs.
If you can reach a cash settlement following a car accident you will also have to resolve any medical liens which exist.
This left the condominium corporation without lien rights, and therefore having only unsecured rights of collection.
By now you should have a good understanding of lien priority.
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