in California and most other states. The house is held with a note and deed of trust. The note is like a IOU you promise to pay the bank the money you borrowed. The Deed of Trust says if you don't pay you agree to transfer the house back to the Bank. When you get an Loan to buy the house the Bank makes shure that there is no other leins on house. So the bank is first in line. the next lein is call the second and so on. If you don't pay the house is transfered back to the Bank by the Deed of Trust and then sold for what they can get for it. If it sells for more that what is owed then any money would go to the next lein hold. If there is nothing left then the other lein holders get nothing. Most likely you will have to pay it back.
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Can lien affect your credit?
Yes. A creditor lien will be reported.Yes. A creditor lien will be reported.Yes. A creditor lien will be reported.Yes. A creditor lien will be reported.
Can credit card debt put a lien on your taxes?
Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.
Can a creditor put a lien on your mortgage over a 2000 dollar unpaid student loan?
Yes. If you owe a creditor money and you have an asset (such as a house), a creditor can put a lien against your asset for any amount, even $1.
Can a creditor place a lien against a house or car that's not paid for?
Yes, however the judgment lien would take second place after the existing lien(s).
If a lien is put on your house do you have to sell it?
Generally, and depending on the type of lien, you don't have to sell your property if a creditor records a lien. However, you cannot refinance or sell the property without paying the lien. Interest accrues the longer a lien remains unpaid. If the amount is substantial enough the creditor can obtain an order to sieze and sell the house to recoup the amount owed plus costs and interest.
Can you lose your car if a judgment is entered against you?
Yes. Your creditor can request a judgment lien and take any property you own to satisfy the lien.Yes. Your creditor can request a judgment lien and take any property you own to satisfy the lien.Yes. Your creditor can request a judgment lien and take any property you own to satisfy the lien.Yes. Your creditor can request a judgment lien and take any property you own to satisfy the lien.
Can a creditor place a lien on your house if you can't pay your car loan?
Yes. The creditor could sue you in court and if successful will obtain a judgment lien that can be recorded in the land records. Once recorded you can't sell or mortgage the property until the lien is paid.
Can you pay just 5.00 a month on a lien and get the lien taken off?
You need to discuss that with your creditor.You need to discuss that with your creditor.You need to discuss that with your creditor.You need to discuss that with your creditor.
What is a FIFA lien?
A FIFA lien is a document placed on your house after a creditor obtains a judgment against you. The document is issued by the local county clerk's office.
Can a lien take your child support?
No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.
Can a lien for an unsecured loan be filed against a law suit?
A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.
If you have a judgment against you in Pennsylvania can you lose your house?
The forced sale of a primary residence is possible by a judgment creditor. However, this seldom happens as the procedure is lengthy and costly, generally the judgment creditor will place a lien on the property thereby encumbering it so that it cannot be refinanced, have the title transferred or sold until the lien is satisfied. Whether or not a valid lien is possible and/or a forced sale of the property is viable depends largely on how the property is titled.
Can a lien be placed on an investment property in fl owned by a person who has not paid off a promissary note?
Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.
Can a creditor put a lien on your car?
yes
Can creditor place a lien against your home in the state of South Carolina?
A creditor can place a lien on a property in South Carolina. This is to ensure their loan is paid.
Can a home be sold when a lien is on it?
No a home with a lien on it cannot be sold. A lien gives first right to the property to the creditor.
What happens if there is a lien on my house?
It means that you can't sell your house without paying your bills.
Can a lien be put on your home when you are on disability?
Yes. Your creditor can seek a judgment lien in court.
What are Pennsylvania laws of filing a lien on property for medical bills?
Generally the creditor must obtain a judgment by suing the debtor. If successful the creditor must request a judgment lien. The judgment lien can then be recorded.
What is the difference between vacate and satisfaction of a lien?
The difference between vacate and satisfaction of a lien is the way in which it was surrendered. During a vacate of a lien, the creditor is releasing the lien on a loan, usually because of a full repayment. The satisfaction of a lien would be like a repossession for non payment to a creditor.
Can a creditor put a lien on a co-signer's business?
Yes, if the creditor sues, and the judge rules in his or her favor, a lien can be placed on a co-signer's business.
You co-signed a mortgage for property you don't own. Can a lien be placed on that property for your own personal debt?
No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.No. If you are a co-signer on a mortgage for property that you don't own your personal creditor cannot place a lien against that property for your personal debt. If the creditor does record a lien in the land records it will have no effect if you have no ownership interest in the property.
Can a creditor place a lien on your property if you and he have agreed to a monthly payment schedule and you are making the payments?
Yes, if you have agreed that the house will be used for collateral.
How do you remove a property judgment?
You have to pay the creditor the full amount of the debt for which the lien against the property was issued.
What if you paid the lien but the lien holder won't sign the lien satisfaction?
You should visit the court that issued the judgment lien and ask about obtaining a court order against the creditor for refusing to release the lien. You should take proof that you paid the lien with you as evidence.You should visit the court that issued the judgment lien and ask about obtaining a court order against the creditor for refusing to release the lien. You should take proof that you paid the lien with you as evidence.You should visit the court that issued the judgment lien and ask about obtaining a court order against the creditor for refusing to release the lien. You should take proof that you paid the lien with you as evidence.You should visit the court that issued the judgment lien and ask about obtaining a court order against the creditor for refusing to release the lien. You should take proof that you paid the lien with you as evidence.
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