Yes! When a lien from a credit card or any unsecured debt shows up on a property title search, its a second to the primary lien. Any mortgage or taxes would be paid first. So if you were buying or selling a house with that type of lien, you can contact the company who placed the lien and offer them an amount to settle their claim. Its usually far less than whats owed because they could get nothing in many cases. Many settle for 10% to 20%.
It will show up in your credit history report.
Im applying for financial aid for my house payment. will it effect my credit score
Payment processors merchant banks use a payment processor such as an electronic payment clearing house to settle credit card transactions through the bank system for merchants. These are sometimes called credit card transaction networks.
Some things are - A job, money for down payment and good credit.
Possibly. If you're saying the niece used your credit card, and they want to collect from you, and you are receiving an insurance payment... if they get a court judgment against your property, then you will have to pay. You can, of course, sue your niece to recover anything you had to pay because of her actions.
The best of all worlds would be that you could either negotiate new payment terms or refinance so that you could keep the house. Or, that you sell the house before it forecloses for the amount that you owe. Both of these options require action on your part. Otherwise, the foreclosure will go on your credit report, where it will remain for several years. New lenders will consider the time since the foreclosure and also the state of the other credit accounts in determining whether they will offer you a loan and at what rate.
Keep a roof over your head first..... then work on negotiating the cc debt
If it is convenient but credit card interest can be as high as 45%. It is unlikely to be a good idea if you do not clear the balance monthly.
A mortgage payment depends on several main things: -How much your house is worth -How much you put down for your house -Your credit approval -The type of mortgage plan you chose, usually 15 or 30 years
A check or money order is usually required for down payment/closing costs.
Have pristine credit. The better your credit history is, the lower your mortgage rate will be. The worst things you can do to your credit, in the eyes of a mortgage company: 1) Not pay your bills. This is absolutely the worst thing. 2) Not use credit at all. If you never use credit, the mortgage company can't determine how you act when you do. 3) Not carry a balance. If you get a credit card, make small purchases and always pay them in full at the end of the month, mortgage companies consider that not using credit. 4) Having way too much available credit. If you have many credit cards, the mortgage company will assume you might actually use all that credit. If you DO use it all, you won't be able to pay your house payment.
It depends. Some credit cards come to you as equity loans (you activate the card, it gives you a limit on the card equal to the equity on your house) and if you don't pay off the loan, the house belongs to the company. If it is a regular credit card and you don't pay, they may take you to court and win a judgment against you. That would allow them to put a lien on the house in the amount of the judgement. So, to answer your question, yes, there are ways that a credit card company can put a lien on your house.