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Can a bank put a lien on your house if you do not pay off a personal line of credit?
Wiki User
∙ 10y ago
If the "line of credit' is in the form of a mortgage recorded in the land records then the lender can foreclose and take possession of the property. If it's not a mortgage then the creditor can seek a court judgment and if successful can then record a lien against your property. The property can't be mortgaged or sold until the lien is paid. If not paid and if the lien is for a substantial amount the creditor can sieze the property and sell it in most jurisdictions.
Wiki User
∙ 15y ago
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Does a real estate lien from an HOA affect your personal credit?
The lien can be reported to a credit reporting agency.
Can a credit card company put a lien on your house in North Carolina?
Yes, a credit card company can put a lien on your bank account or your house in North Carolina. They would have to go to court and obtain a judgment and will probably not do this unless you owe a large amount.
Can lien on a house affect the owner's credit if the house was bought with cash?
Yes. A lien will show up on your credit record whether you paid cash or mortgaged your property.
A lien was filed due to credit card debt. I had no personal property at the time the lien was filed about 3 years ago. How does this affect my credit?
The lien is probably still in place, and the fact that it was filed is still on your credit file.
Is your credit history affected by a lien that is put on a house?
If there is a mortgage/equity loan involved,that loan will report on your credit history. The lien will report on the title of the house. A title search will be conducted if you are selling or refinancing the house.
Will there be a federal tax lien put on my house that's in foreclosure?
Yes, there will be a federal tax lien put on your house that is in forclosure. The bank or person that buys your house will have the option to pay that lien off.
How do you find the lien holder code for an out of state credit union?
Ask your bank OR The credit reporting service you use OR The person that holds the item that has the lien on it OR If you know the name, call them.
What if a lien is on your house?
You can not sell your house or if you die your home will go to the people who have a lien on your home.The best thing to do is to pay off the lien which is usually someone or a bank you owe money.
If credit card puts lien on house and i file bankruptcy can i still file the credit card in the bankruptcy?
You have to, it is a debt...it is just a secured debt...by the lien on the property.
What does is mean to have a lien on ones property and tenets?
A lien is a security interest in the property. A lien might arise from a loan. If you buy a car with the bank's money the bank will put a lien on the car. If you don't pay the bank back, it can foreclose on its lien and take the car from you. If you have a roofer add a new roof to your house, and you don't pay him, the laws allow the roofer to put a lien on your house. The roofer now has a stake in the house. If you don't pay off the lien your house can be forcibly put up for sale in order to satisfy the lien. I believe "property and tenets" translates into modern speak as "property and belongings".
If you're refinancing your house but the contractor who was renovating is putting a lien on the house because you still owe him a small amount of money will that affect the refinancing and your credit?
If the lien is reported to your the 3 credit reporting agencies or even one as a collection it will effect your credit. If the lien is just on your home it will not effect your credit however you will have to pay the lien off when you sell or refinance your property. Also some of these liens have running interest which can be a shock in the future.
Is a lien on a property considered real or personal property?
A lien is considered personal property.A lien is considered personal property.A lien is considered personal property.A lien is considered personal property.
