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Can you refinance with a construction lien on the property?

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cavetro Joined: 17 Dec 2008 Posts: 1 1.31 Dollars($)	Posted: Wed Dec 17, 2008 9:07 pm    Post subject: Can you refinance with a construction lien on the property? Like 0 Dislike 0 Our carpenter put a lien on our home for supposed "finished" remodel. We have attorneys involved, is it still possible to refinance our mortgage with this kindof lien?
evolovik26 Community Expert Joined: 15 Aug 2007 Posts: 537 Location: Minneapolis 28.93 Dollars($)	Posted: Wed Dec 17, 2008 10:29 pm    Post subject: Like 0 Dislike 0 nope mechanics lien needs to be gone first contact an attorney _________________ Eugene Volovik Home Loan Consultant Countrywide 612-481-3127 Conventional, FHA and Commercial Lending in 48 states
smithsussane Joined: 18 Sep 2008 Posts: 10029 Location: Alaska 919.29 Dollars($)	Posted: Wed Dec 17, 2008 11:00 pm    Post subject: Like 0 Dislike 0 Hi cavetro! Welcome to forums! You will not be able to refinance the mortgage if you have a mechanics lien placed against the property. In order to refinance, the holder of the mechanics lien should agree to postpone the lien in favor of the mortgage lender. The lien holder may do this if you pay them at least some portion of the money they owe you. Or else, you will have to pay off the lien holder and get a Lien Release Certificate in order to refinance the property. Feel free to ask if you have further queries. Sussane

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