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.
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!
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.
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.
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.