If there is a lein placed on my home?

Question

But it is for far less than $5000 what can they do other than wait for payment or sale of home. And can I still pay them off and remove the lein?

Answer 1

Yes but they would probably want the whole amount at one time.

Answer 2

Yes, if you pay it , it will go away. There is not much they can do, except, like you said wait for the sale of the house or payment.

Answer 3

Generally speaking, a lien will only cloud your title which would prevent you from selling without paying off the lien, unless it's a mortgage lien which would typically allow the lien holder to foreclose.  I'm sure the laws are different in every state as far as lien holder rights, so depending on the type of lien, you may want to do some on-line research regarding your particular state laws.

Answer 4

Proceeds from the sale of the property would be used to pay off the lien before you see a dime.  The attorney handling the closing would be obligated to make sure that happens.  A better way to deal with the situation is to try to negotiate with the creditor who put the lien on the property in the first place so the lien will be removed long before any type of sale of the property is even contemplated.  If you don't feel you owe the money challenge the lien.

Answer 5

Yes you can pay them the $5000 plus costs and remove the lien, or you will be required to pay it off when you sell the property.  It also affects your credit.

Take care of your debts and obligations.

Answer 6

Yes. Pay them off. That lean with interest, does add up. <}:-})