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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Lien holder defined... Posted by Ward-CA- on January 01, 2009 at 12:59 AM In Reply to: Lein Holder posted by Cheryl Myny on January 01, 2009 at 12:04 AM Cheryl, A lien is a recorded claim against the title of real property. Its purpose is to secure a debt, either voluntary or involuntary, that is owed the holder (a bank or creditor) of the lien. Its effect is to ensure the repayment of an indebtedness that a property owner owes someone. A common lien that's recorded against the title of property is a mortgage. It secures the landowner's promise to repay a loan. If the loan isn't repaid in a timely manner the lender can force the sale of the property through a foreclosure auction and pay off their loan from the proceeds. --------Ward ============= : Can someone please explain what a lien holder does? I have a house and I need money, I have bad credit and owe taxes on the property. Someone told me top check into a first lien holder for my house and that they would help me out. Cal somebody please explain what they will do for me? Is it a good idea? What are the negatives and positives about taking this route? Please respond I don't have much time and I have everything i own invested into this house. PLEASE HELP! Thank you for your time. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Cheryl, : A lien is a recorded claim against the title of real property. Its purpose is to secure a debt, either voluntary or involuntary, that is owed the holder (a bank or creditor) of the lien. Its effect is to ensure the repayment of an indebtedness that a property owner owes someone. : A common lien that's recorded against the title of property is a mortgage. It secures the landowner's promise to repay a loan. If the loan isn't repaid in a timely manner the lender can force the sale of the property through a foreclosure auction and pay off their loan from the proceeds. : --------Ward : ============= : : Can someone please explain what a lien holder does? I have a house and I need money, I have bad credit and owe taxes on the property. Someone told me top check into a first lien holder for my house and that they would help me out. Cal somebody please explain what they will do for me? Is it a good idea? What are the negatives and positives about taking this route? Please respond I don't have much time and I have everything i own invested into this house. PLEASE HELP! Thank you for your time. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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