The debt is now secured, and the lender has a better chance of getting repaid. How does a creditor benefit from placing a claim on something you own? Liens may give creditors the legal right to take your property and sell it if you don’t repay your debt.2 As public records, ...
For a business entity, a lien is a legal claim against the company where an encumbrance on the business's property is used to secure a debt the business owner owes to another company. If your business wants to apply for a loan or credit or is planning a major purchase, you want to ...
You are probably aware that if you fail to pay your credit card bills or other loans on time, your credit rating can suffer as a result. Not paying your income taxes on time could potentially have similar results to your credit rating. Watch this video t
Falling behind on your loan or credit card payments is never a pleasant situation to be in. You're probably wondering how this may affect your tax refund. Watch this video to find out more about how judgments can affect your tax refund.
A preliminary title report can also help confirm who owns the property and whether the seller actually has the right to sell. READ: The Most Undervalued U.S. Housing Markets 5. Get an Appraisal If you’re getting a mortgage to pay for your home, your lender will require you to get ...
Tax liens Fixer Uppers With such an extensive range of properties that can potentially be purchased below their market value, foreclosures.com can be a very happy hunting ground for property flippers. There is just one catch that you need to be aware of with this particular site. It is ...
The costs of selling a home start with home prep, followed by staging, marketing and likely concessions, plus the average closing costs of selling, 8%-10% of the sale price. Real estate fees for sellers add up fast.
Voluntary Liens 1. Mortgage Lien When you voluntarily take on a mortgage, the lender agrees to finance your home and takes a lien on your property until you pay off the debt. You can check if there's a lien on your real estate at your county recorder's office, the recorder of deeds ...
Lien sales for unpaid debts on a property can result in the amount owed increasing further. When the lien debt is sold, usually by a local government agency, the buyer can employ a lien servicing company that may add more fees and interest to the lien. This allows the buyer to see a r...
The term title search refers to the examination of public records to determine and confirm a property's legal ownership.Titlesearches are conducted through many sources, including deeds, tax liens, land records, court judgments, among others. Normally conducted by title companies, searches can be o...