What does a lien on a home mean?

Answer 1

It means that someone who you likely owe money to has gone to a government office and had alien put on you. That means whateverpiece of property they put the lien on, if it was a car per say, if it was totaled and the insurance paid it, then the lien-holder (the person who put the lien on you) would get the amount of the lien from the insurance before you got the rest of the check.

Answer 2

Answer

A lien is a creditor's claim against a property. Two common examples of creditors are banks or contractors (mechanics). The claim may or may not be valid. As soon as the debt is paid the lien is removed. Paying off the debt and removing the lien are two separate actions. Once you pay off the debt a separate action removes the lien. Likewise, a lien (claim against the property) can be removed before the debt is paid.

A mortgage is a lien against a house; if the mortgage is not paid on time, the house can be seized to satisfy the lien.

Answer 3

If you owe a bank, credit card companies, etc., they can apply to the courts to put a lien on your home, which means that they now have an interest in your home and can recoup their losses if you were to sell your home.

Answer 4

Nothing. Until you go to sell your home. The mortgage lender will run a search of title for your home. Then they will see your lien. They will ask you about the nature of the cause. In most cases the lender will lump the cost into your new loan. You will have to pay unless the charge is already paid or appealled. Your going to be ok.

Answer 5

A lien is a legal right or interest that a creditor has in another's property that lasts until the debt or duty that it secures is satisfied.There are voluntary and involuntary liens.

A mortgage is a voluntary lien. The property owner enters the mortgage contract voluntarily and the lender has a lien on the property until the mortgage has been paid. If the mortgage isn't paid the lender can take possession by foreclosure and sell the property.

A creditor can sue you in court and if they win they can obtain a judgment lien that can be recorded in the land records against your property. You cannot mortgage or sell that property until the lien is paid. If you fail to pay your property taxes the town can record a property tax lien that must be paid or the town will take possession of your property and sell it. Tax liens and judgment liens are examples of involuntary liens.

Answer 6

Lien means right on property to keep possession of it till debt due in respect of it is discharged. Thus a Bank has a lien on your property until the ouitstanding mortgage is paid.
A lien is a means of "clouding" the title to your property. For example, there are mechanic's liens, tax liens, judgment liens, etc. If you have a lien on your property, that lien must be satisfied before you can reap the benefit of a sale of that property. In other words, you must "clear" the title (by paying sums due or performing) before you can pass that property through sale, etc. A title company can help you with this.

Answer 7

That means someone has obtained a court judgment against you and the lien must be paid before you can sell or refinance your property.

Answer 8

A lien is a claim against your property by a creditor. You cannot sell or mortgage the property until the lien has been paid.

Answer 9

A lien is a debt guaranteed by the property. Usually this is a mortgage from a bank. It could be someone that did work on the house and was not paid. It could also be a tax assessment.