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What else can I help you with?
Can a lien lead to foreclosure?
Check this post, it talks about liens and foreclosure. http://www.foreclosedpropertiesdata.com/blog/foreclosure-help/how-liens-can-lead-to-foreclosure/
Can you put a lien on a house that is in foreclosure?
Yes, a foreclosure will, however, take priority over secondary and other liens, often everything except tax liens.
Can a lender put a lien on your current house for the old house if the old house is foreclosed?
Yes. Most homes that go into foreclosure have liens against the owners.Yes. Most homes that go into foreclosure have liens against the owners.Yes. Most homes that go into foreclosure have liens against the owners.Yes. Most homes that go into foreclosure have liens against the owners.
What are the procedures at a real estate auction to determine what liens are paid?
Answer: Liens that were recorded prior to the mortgage must be paid. Taxes and municipal liens must be paid. Liens that were recorded subsequent to the foreclosed mortgage are wiped out by the foreclosure. AND you should have the title checked at least one more owner back to determine what liens are outstanding.
If you purchased a home and the first loan was not enough for the sale you were forced to get a 2nd and the 1st was foreclosed on Is the second considered and unsecured loan or still a lien?
The answer may be different in different states but, in general, foreclosure of a lien discharges all junior liens (i.e., the second mortgage) to the extent the proceeds from the foreclosure sale are insufficient to cover the junior liens. There is still a debt owed, but the property, having been sold in foreclosure, is free of all liens junior to the one that was foreclosed.
Which type of lien has highest priority?
Liens for property taxes have highest priority in a foreclosure regardless of when the lien was filed.
Is the buyer responsible for any liens when purchasing a mortgage foreclosure?
Yes. There may be liens.That is the reason any buyer must have the title to the property examined by a professional so that any and all liens and other interests will be exposed. Many buyers at foreclosure sales lose their deposit when they discover later that there are liens on the property that make the purchase a very bad investment.Yes. There may be liens.That is the reason any buyer must have the title to the property examined by a professional so that any and all liens and other interests will be exposed. Many buyers at foreclosure sales lose their deposit when they discover later that there are liens on the property that make the purchase a very bad investment.Yes. There may be liens.That is the reason any buyer must have the title to the property examined by a professional so that any and all liens and other interests will be exposed. Many buyers at foreclosure sales lose their deposit when they discover later that there are liens on the property that make the purchase a very bad investment.Yes. There may be liens.That is the reason any buyer must have the title to the property examined by a professional so that any and all liens and other interests will be exposed. Many buyers at foreclosure sales lose their deposit when they discover later that there are liens on the property that make the purchase a very bad investment.
Who pays the child support lean on a house when it is foreclosed?
Liens are due when the property is sold, and are the responsibility of the seller(s). A foreclosure is not a sale.
Are liens valid after a tax foreclosure sale?
Oh, dude, after a tax foreclosure sale, liens are typically extinguished, so they're about as valid as a fake ID at a liquor store. It's like trying to claim your ex's Netflix password after they change it – it's just not gonna work. So yeah, those liens are pretty much toast once that sale goes down.
What happens to a tax lien on a property lost in foreclosure?
Tax liens are not wiped out by a foreclosure. They must be paid in order to clear the title to the property so that it can be sold. If the lender has to pay them it will add that amount to the amount you owe.
Before foreclosure on a house with a number of liens exceeding the buyer's offer Can you as the former homeowner sell it to prevent it going into foreclosure?
You can sell the house, but you are still on the hook for the remaining amount of money. And the banks may not want to allow the transfer, because they wish to have the property secure the loan balance outstanding. A purchaser wouldn't like to buy such a piece of property, because the danger of foreclosure at the sale might still exist. Without paying the liens, you cannot provide clear title to the property. Most lenders will not lend on a house that is being foreclosed upon. You may be able to reach an agreement with the lender about the sale in view of the foreclosure, but the liens will still need to be paid.
Type of lien that takes first position in foreclosure?
Real property tax liens(s), followed by the holder of the oldest recorded lien.
