0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
My condo community has decided to put new siding on your homes and if I don't pay 5500 they will put a lien on my home. Will that affect my credit rating?
Yes, a lien on your title, which clouds it, becomes public record and can affect your credit rating.
Can you take out a home equity line of credit when there is a lien on your home?
The lender will require that the lien be paid off.
What are the consequences of a lien placed on ones home by an HOA?
A lien on the title to your home clouds the title -- indicates that there are monies due based on the lien -- so a future transaction will involve the lien. The lien may also be shown on your credit report.
How does a lien on your house by a credit card company effect you?
When you have a lien it shows on your credit rating, this is because money is owed to someone and not paid, also if you want to sell your house the lien would have to be paid off first, it also remains on your credit rating for 7 years.
What are the consiquences of a Condominium Association putting a lien on your condominium home in Ohio?
If Ohio is like most other states, the recorded lien effectively clouds your title, so when you attempt to sell the unit, the lien shows up in the title search. As owner, the lien may also appear on your credit rating. The lien must be lifted in order to pass clear title along to a new owner.
You are about to get a lien on your home how will that affect you will you owe interest charges fees etc?
This will affect you in numerous ways, you have already built up legal fees due to the lien, it is on your credit, you have just about destroyed your credit rating. I would suggest you go to your bank and attempt to negotiate new terms or find another company and reapply for a refi Or sell your home to Ugly House at a loss but get out from under it if you cannot afford it.
Can you buy a car with a child support lien?
Your question isn't clear so here are alternative answers: A lien on any property, including a motor vehicle, must be satisfied before that property can be transferred. States routinely report child support arrearages to credit agencies. Typically, such arrearages lower one's credit rating, which can effect one's ability to get a car loan.
In SC can a Credit Card Collector place in lien on your house?
CAN CREDIT CARD COMPANIES OR THE AGENCIES THEY SELL YOUR DELIQUENT ACCOUNT TO PUT A LIEN ON YOUR HOME IN SOUTH CAROLINA AND IF SO WHAT ARE THE RULES ?
Does a junior lien affect credit?
Yes. Any lien affects credit.Yes. Any lien affects credit.Yes. Any lien affects credit.Yes. Any lien affects credit.
Can a spouse's business tax lien affect your credit rating?
I would say it depends on a real crucial issue: Are you part owner of the business? If not, his liens and/or credit issues should not appear on your credit. Yes
How is a tax levy different from a lien on your home?
Levy is by a county or municipality for taxes owed. A lien is for money owed on a home or money borrowed against the home. If you owe back taxes, then IRS or State taxing authorities may file a notice of lien and a notice of levy, but they are totally different. Tax levy is much more serious and usually a levy is the last tool that the IRS will use to collect the tax debt. When IRS puts a lien on your home, they are doing this to assure they will get paid if you sell it. Having a tax lien will affluence your credit rating; you may not get a new credit card or sign a new lease because liens are public record. If you get a levy on your home, it means the IRS is taking action to collect the debt.
Is a home equity line of credit used to pay off a mortgage?
Not usually. There isn't much point, you're just trading one lien for another. And usually the line of credit will have a higher interest rate then the mortgage. If not, it may make sense to get a lower credit rate.
