Important Tips you Need to Know on Property Liens.
Property liens are big businesses are looking on becoming and investment on itself, property liens basically are big businesses which is estimated to be at $37,260, 723 and 18 million of the total value is expecting to be sold.
property liens nowadays are becoming an alternative for stock market this is because investors always look for the viable option when they are investing like stability and growth, see more about property liens now.
Property liens is a legal claim that is made against a property so as to satisfy debts and can happen in a number of ways like when someone defaults a bank loan.
The most common property lien is when someone defaults paying the loan and in this case the loan provider is the lien holder in the instance someone defaults loan repayments, see more about liens now.
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.
There are certain ways that you can settle your property liens and the most obvious one is to pay it off, next you need to settle the debt with the lien holder.
This is because creditors are often most of the times willing to settle for less that the real amount owed, the third method is to get rid of the property and if the lien is filled in error and you can prove it you can file it to be corrected, see more about liens here.
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 option is for you to dispute a lien, if the lien is filed incorrectly or you find discrepancy over your terms, you are free to dispute the lien, which is the hardest part but requires legal battle if you believe that the lien is held in bad faith for example.
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.
Another way to get rid of an alien is to work on a settlement with a lien holder, mediation, arbitration to negotiations for instance the creditor may agree to lift the lien in exchange for better and higher monthly payments, see more about property liens here.