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Guest

Hi,
I am lending some money to a friend to buy a house. How do I get added as second lien so that I don't loose my money just in case.

Thanks for your replies.

savior70 · Posted: Tue Jun 30, 2009 6:12 am Post subject:

Hi

Before placing a lien, you need to go to the county civil court in order to confirm that your friend owes you money. The court allows them some time, say 6 months, to repay the loan. If the loan is not paid, you need to send him a certified letter expressing your intention of filing lien against his property. The judge will hold him in contempt of court and will order a a judgment agaianst him. Then, you will have to file the civil court judgment with the land records office to place a lien on the property.

jheard · Posted: Tue Jun 30, 2009 7:00 am Post subject:

You need two things: a Promissory Note in the amount of the loan and a Deed of Trust securing the Promissory Note. Record the Deed of Trust in the county where the property is located.

Guest

Thanks both of your savior70 and jheard for the response.

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