Sentences with phrase «new liens on the property»

After all, new liens on the property or other issues may have come into the picture since the first time this search was conducted.

Not exact matches

After the loan is closed, the title company will prepare an ALTA (American Land Title Association) title policy that reflects the new mortgage loan as a lien on the property.

Liens against collateral used to secure debt, like car loans and home mortgages, will not be discharged, and that property can be repossessed or foreclosed on unless you continue to make payments or are able to reach a new agreement with your lender.

The existing home mortgage and any liens on the property are paid off and replaced with a new mortgage.

A loan to purchase a home is usually the first mortgage lien recorded on a property; subsequent loans depend on the amount of owners» equity in the home and generally require a new appraisal.

Even when a property is resold quickly, or refinanced within a short period of time from the original purchase or most recent refinance, a new title search and title policy are needed because the owner could have taken actions that had an impact on his claim to the title, such as taking out a second mortgage or incurred a lien from unpaid taxes.

I drove to a gun buyback on Saturday in St. Roch organized as a Prospect satellite event by Kirsha Kaechele, a controversial figure in this city, who championed the New Orleans arts scene directly after Katrina by buying houses around the Bywater district and using them for art installations, only to retreat to Tasmania, «leaving thousands in unpaid property tax bills and liens behind,» in the words of the Times - Picayune.

A plus: A court - ordered receivership sale wipes out all liens on the sold property except property taxes and gives a new owner clear title.

However, hidden hazards may lurk under the surface of a transaction in the form of an outstanding lien, pending legal action against the property, possible tax issues and more, all of which could place a severe financial burden on the new owners.

A similar new law in Virginia allows a locality providing water or sewer service to place a lien on a property in the amount of the number of months of nonpayment, versus up to three months under a previous statute.

Anytime you take on a new listing it is critical to ensure that you are dealing with the legal homeowner (s) and that property title is clear of liens or financial issues.

When that happens, Bill will pay off his note to Sam and Sam will pay off his note to Big Bank, and the new loan will take a new first position lien on the property.

This secures title in the new borrower's name, and protects the new lender (s) from unknown liens on the property as well.