Important Tips you Need to Know on Property Liens.
property liens are mostly big businesses and have an estimated value of $37,260,723 with the overall value of 18 million set to be sold soon, see more about property liens here.
Today, property liens are becoming an investment of a kind in themselves and many investors are turning to property liens more than stock market in favors of more stable investments.
The property lien is a simpler terms is the legal claim that is made to a property so as to offset the debt and can happen especially when someone defaults a loan and the two options to remove lien is to settle the debt or have it removed with the help of an attorney, see more about it here.
When someone defaults the loan repayment that is where property lien come in since the loan provider acts as the lien holder and will issue a go ahead when someone is unable to repay the loan.
It is possible to sell your home when it at the lien, this is essential since you will get cash to offset the debt and also you must have a clear license to sell the home, see more about home lien sale here.
Also you need to know how to clear a property lien, and the most and the essential part is to clear it off, the second way to remove property lien is by settling with the lien holder.
The third method is getting rid of property lien and have it corrected if your lien has been filed in error you can file to have it corrected.
One such example of when there is error in lien is when the previous owner of a property faced lien, repaid and the payments were never recorded, so ensure you get the fats right on the property before any purchase, the correction is made quite easy if you have proof of bill sales, see more about liens incorrect forms here.
The final methods is to get rid of a lien is to have it corrected, this means that when you find discrepancy in the terms you can file to have it removed and even though it is not easy, it might require legal battle to learn more about property lien, see more about here if you have doubts with the lien.
Property lien is a complicated and difficult topic to cover but you can always get legal advice from real estate experts and more so when you are facing a lien and because it requires legal battles most of the times, ensure you have a professional real-estate lawyer.
You may have an option of working out a settlement with your lien holder in negotiation, arbitration, mediation for instance you may agree to lift the lien and in exchange promise to make higher monthly payments, see more about property lien settlements here.
Partner post: see