I have been told by a company I owe money to, that they will put a lien on my house. Can they make me sell?

Question

Once the lien is in place does it keep accruing interest?

Answer 1

No what it does is ensures they will get their money if you sale the house.

Answer 2

Repost your question and post more details.

What do you mean by "a company"...what type of debt is it?

All that makes a huge difference.

They can't put a lien on your house without getting a judgement in court and filing for the rights to put the lien. They can't just go down to the courthouse and request it, a judge has to approve it unless you sign papers to the contrary.

Answer 3

No, they can not force you to sell, but they can prevent you selling or refinancing until you pay them.

Yes, they can continue to accrue interest, but some states set a limit.  CA sets the interest at 10% once the lien has been filed.

If the company you owe has anything to do with the house they can simply put the lien themselves.  If it is otherwise they need to have a judge sign for the lien.    

Answer 4

no - but you can't sell your house without the lein being paid off

Answer 5

It will not force you to sell the house but if you ever want to sell it you will not be able to.  the lien will prevent the house from being sold until you pay it off.

Answer 6

.   Usually they get a judgement against you.  If you don't pay, they "execute" the judgement.  The sheriff sells your stuff.  YOu are allowed to keep 1 bed, 1 tv, 1 sofa.

THey can go after your house but the first $100,000 of equity is protected by the state against any creditors.  So it is always a waste of time to do that.  If they put a lien on the house, i would be surprised.  Usually they just get the judgement....and if you ever sell the house, the judgement will get paid so the house title is clear.  Don't sell and they don't touch the house.

Answer 7

I'd suggest that you begin paying something each month or week on that bill ....

The creditor CAN get a lein and judgement levied against you and then you won't be able to do anything with the property ...

OR; you COULD re-fi BEFORE they throw on the lein/judgement  and pay the debt off ...  

Answer 8

This is a hard question to answer.  I assume that they did win a court case and that it was either a business loan cross collateralized with your home and/or construction lien that was associated with your home.  If it's not one of these I am unsure why it's attached to your home.  Outside of that they can not force you to sale your home.  It also will not hold up the sale/refi of your home either.  It will just have to be paid out of the proceed before you get your money.  Keep in mind with it on your credit you will start paying higher rates on everything you finance.

Answer 9

I assume this lien is related to something you had done on the house. Contractor liens remain until they are paid off. The lien will show up in a title search and delay sale until it is cleared.  They can't actually force you to sell the house.