Posted on: 01st Aug, 2012 01:11 am
How can a lien exist on my property when the words "house" and "lien" are not on the mortgage document?? Unless I cannot find them, can you tell me where I can find them?
Welcome Bandbox,
A lien can be defined as a form of security interest granted over an item of property to secure a mortgage. So, if you have taken out a mortgage, it means, there is a lien on your property, irrespective of whether or not it is mentioned in the mortgage doc.
A lien can be defined as a form of security interest granted over an item of property to secure a mortgage. So, if you have taken out a mortgage, it means, there is a lien on your property, irrespective of whether or not it is mentioned in the mortgage doc.
Hi Bandbox!
Welcome to forums!
Adonis is right in saying so. Whether or not the term "lien" is mentioned in your mortgage doc, you will be liable for paying the loan and there will be a lien placed on your property. In order to get a release from that lien, you will be liable for paying the loan in full.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Adonis is right in saying so. Whether or not the term "lien" is mentioned in your mortgage doc, you will be liable for paying the loan and there will be a lien placed on your property. In order to get a release from that lien, you will be liable for paying the loan in full.
Feel free to ask if you've further queries.
Sussane
Bandbox,
If you took out a loan againt the property you should be able to find the "Deed of Trust" and "Note" within the stack of document you singed with the notary. The Deed is the document that will state that the lender has right to the property should the loan not be repaid. The Note will give you the specific detalis on the loan itself.
If you took out a loan againt the property you should be able to find the "Deed of Trust" and "Note" within the stack of document you singed with the notary. The Deed is the document that will state that the lender has right to the property should the loan not be repaid. The Note will give you the specific detalis on the loan itself.
I am at the point of closing my home very soon. There was a $3,000 lien on it when I bought it which I was unaware, I have been trying in vaain to contact the lenders (who have been paid off by the way) but
to no avail. I eed this lien released or my home sale will not go through
Help
to no avail. I eed this lien released or my home sale will not go through
Help
Hi Stubbd,
Unless you get in touch with the lender, it will be difficult for you to get a lien release certificate. You should contact an attorney and check out if he will be able to qualify for a loan.
Thanks
Unless you get in touch with the lender, it will be difficult for you to get a lien release certificate. You should contact an attorney and check out if he will be able to qualify for a loan.
Thanks