What are Liens?
Everyone can fall on difficult financial times, a lien can be place on your home when you fail to pay their financial obligations. Homeowners may face different types of liens on their house.
- County Tax Lien: The county may place a lien on a home owners house when they don’t pay the appropriate county taxes.
- HOA Lien: An HOA lien is placed on a property specially a house in this instance when the home owner is unable to pay for the amount due to the HOA per month.
- Mortgage Lien: When a bank lends money to purchase a home and the home owner can’t pay for the monthly payment.
- Judgment Lien: Can be place on a house when owner of the house has been sued in court.
There are a few other liens such as liens from the IRS and mechanics liens that can be placed on someone’s house. Often times a homeowner may work out something with the company or person who has placed the lien on their home and be able to get out of it in a few years. This will relieve the homeowner form such a burden.
What to do?
- Work out a payment plan
- Get a second job and pay off the debtors
- Sell the house and pay off the debtors
Homeowner’s may choose to sell their house pay off their debts…This is the case for a percentage of home owners. If you are a home owner that has a distressed house and is unable to meet your current financial situation call us for a cash offer on your house at 813-278-6948