Understanding Liens and How To Overcome Challenges
Updated: Feb 7, 2021
Few people are lucky enough to have no experience with financial issues. In fact, many of us face the same struggles and challenges when it comes to building financial security and adjusting to major life events. When you’re a homeowner, who’s hit with financial hardship, you can actually be hit the hardest, with a lien against your property.
A lien is a legal claim or right against a property that provides security allowing a person or organization to take property or take other legal action to satisfy debts and obligations and, it’s public record, informing potential creditors, and even employers about your existing debt.
There are different types of liens including, a property lien, a mechanics lien, a divorce lien, a homeowners Association Lien, a judgment lien, a credit lien, and if you’ve haven’t filed taxes, an IRS lien. However, one of the more common liens is a mortgage lien. If you fail to make your mortgage payments, your creditor can place a mortgage lien on your property and foreclose on it as well.
While a lien is not an ideal situation, you have options to overcome this challenge. We can provide you with options to have your lien removed. We can show you solutions such as selling your mobile home prior to going into a lien or after, depending on the situation, discuss ways you can pay off your debt.
Whether your personal finances include a lien or not, the good news is that you don't have to face these challenges alone. We can help, just take the first step and reach out and find out how.
Contact McBean Realty today.