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The lender will require that you pay off the tax delinquencies with some of the proceeds of the loan if it decides to approve the loan. It cannot acquire clear title to the property if there are property tax liens.
The lender will require that you pay off the tax delinquencies with some of the proceeds of the loan if it decides to approve the loan. It cannot acquire clear title to the property if there are property tax liens.
The lender will require that you pay off the tax delinquencies with some of the proceeds of the loan if it decides to approve the loan. It cannot acquire clear title to the property if there are property tax liens.
The lender will require that you pay off the tax delinquencies with some of the proceeds of the loan if it decides to approve the loan. It cannot acquire clear title to the property if there are property tax liens.
What else can I help you with?
Is a loan considered a lien?
Yes, a loan can be considered a lien if the lender has a legal claim on the borrower's property as collateral for the loan.
Who holds the title to the property in a lien theory state?
In a lien theory state, the borrower holds the title to the property while the lender has a lien against it as security for the loan. This means that the borrower retains ownership and the right to occupy and use the property, but the lender has a claim on it in case of default. If the borrower fails to repay the loan, the lender can initiate foreclosure to recover the owed amount.
What is a mortgage lien?
Mortgage Lien - Is a legal claim against a mortgaged property that must be paid or assumed when the property is sold. The person who has the lien on the property can claim the property if the loan defaults. The mortage lien typically belongs to the lender in order to secure the mortgage loan.
Can the creditor attach or 'take' other property to satisfy deficiency?
James, don't know what state you are in But unless your state prohibits it, YES. The lien will "attach" to the property and when she gets ready to sell it, lien will have to be satisfied first. NO.They can only go after what property was secured by the loan.
What is the difference between a lien and a mortgage?
A lien is a legal claim on a property to secure a debt, while a mortgage is a type of loan used to purchase a property, with the property itself serving as collateral for the loan.
Can creditors put a lien on a deceased property if there is no will?
The existence of a will has no bearing on whether or not they can place a lien. If they have a legitimate debt and a judgment, or an agreement in the loan regarding a lien, they can place the lien on the property or the estate.
Which of these is a lien on the property that secures the promise to repay a loan?
mortgage
What is a lien on the property that secures a promise to repay the loan?
Mortgage
What is a lien on a property that secures the promise to repay the loan?
Mortgage
What is a lien on the property that secures the promise to repay a loan?
Mortgage
How do you find out if a property has a loan on it?
The deed is filed in the county courthouse. There will be a lien filed against it if there is a loan.
What if Inherited Property has a private loan lien?
If inherited property has a private loan lien, the lien typically must be addressed before the property can be sold or transferred. The heir may need to pay off the lien or negotiate with the lender to clear the debt. If the property is sold, the lien must be satisfied from the sale proceeds. It's advisable for heirs to consult a real estate attorney to navigate the legal implications and potential options regarding the lien.
