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How do you collect a lien on property not worth as much as the lien?
Wiki User
∙ 15y ago
In order to collect on the lien, you will need to see a real estate attorney and have the lien foreclosed. In some states, deficiency judgments are allowed (meaning that if the property is worth less than the lien, then any unsatisfied portion of the foreclosure judgment could be executed on other property of the defendants). See the phone book for real estate attorneys who give "free consultations."
Wiki User
∙ 15y ago
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how much is the tax lein?
how much is the lax lien on this property
How much do you need to owe the state of california before they place a lien on your property?
The state can record a lien against your property for any amount you owe.The state can record a lien against your property for any amount you owe.The state can record a lien against your property for any amount you owe.The state can record a lien against your property for any amount you owe.
How can you win in monopoly?
pass go as much as possible,do not land in jail as much as possible, collect as much property,buy hotels & collect as much money as possible. Bankrupt your opponents and COLLECT your bail out money. JUST like REAL LIFE.
How does one apply for the withdrawal of a Federal tax lien?
A federal tax lien is the government‰Ûªs legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government‰Ûªs interest in all your property, including real estate, personal property and financial assets. A federal tax lien exists after the IRS: Assesses your liability; Sends you a bill that explains how much you owe (Notice and Demand for Payment); and You neglect or refuse to fully pay the debt in time. The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.
FDCPA in Florida protect home from credit card collection agency?
How much can a credit card collector do with a lien on your property in Fl
What is a second mortgage and is there a statute of limitations on a lien?
AnswerYou can have more than one mortgage on a property. The second mortgage will always be smaller, and will depend on the equity you have in the property. (Equity is the difference between what the house is worth and what you still owe on it, ie. the first mortgage.)People typically get them to do home improvements or pay off credit card debt.AnswerThe second mortgage also refers to the position on the lien.Lenders who are in the first position have the primary lien against the property. They would be able to foreclose on the property should a borrower default because of their primary lien position. The second lien position relates to the amount of money loaned and that second position. A secondary lien holder would find much more difficulty foreclosing on the property. This is why second mortgage interest rates are typically much higher than first mortgage rates, to compensate for the higher risk.Think of this in terms of other liens against property. For consumers who have money problems, get sued and have judgments issued against them; there can be a number of lien against their property. The position would depend on the time frame and amount of money owed.All liens (which is what a mortgage is) encumber title and can prevent sale of the property.There is no statute of limitations per se for a perfected judgment (one attached to property). A judgment lien can be from 5-20 years and in most cases is renewable.There are time restrictions on when a judgment can be perfected and those are set by the state in which the judgment debtor resides.
If you default on a leased vehicle can the bank place a lien on your home?
It is possible. While it is more difficult for a vehicle lien holder to extend a lien to other, unsecured property, it is possible with a legal judgment. It is much simpler for this to occur if the lien holder and mortgage holder ar the same. In situations such as this, it is a simple matter of cross colateralization.
How do you place a lien on personal property to cover a loan?
The lender will need to file a lawsuit against the borrower in the state court of jurisdiction in the county in which the borrower resides. The simplest method is by use of small claims, although recovery amounts are limited and in the majority of US states a small claims judgment cannot be used as a lien against real property Contact the clerk's office of the court in which you want to file suit for information on filing procedures.
How can you find out how much a lien is on a vehicle?
The licence office should be able to tell you .It might be worth the extra buck to find out. It will save you big bucks in the long run.
How much is the story of babar the little elephant worth?
The story... that is, the intellectual property... is worth quite a bit. The book, not so much.
Is it lawful to place a HOA lien on a home that is in foreclosure?
The key in your question may be 'successful' instead of 'lawful'.If an association waits until a home is in foreclosure to collect long, past-due assessments, the association may not be successful in collecting what is owed.Best practices dictate that the association work with association counsel to collect past-due assessments.AnswerYes. It is lawful to record an HOA lien on a home that is in foreclosure. In fact, in some states HOA liens are given a special status, much like property tax liens, regardless of their recording order. See related link.
What could the bank do to us if we owe twice as much on our van than it is worth and we turn it in voluntarily?
Garnish your checks, lien your house.
