Welcome Guest Sign in or Signup


Given a lien against a property and the debt is defaulted (no cash available) what then?

Asked by: 475 days ago - 1 Answers - 523 views

1 Answers


  1. 0
    Votes

    Thumb up 0 Votes Thumb down 0 Votes

    A lien is basically a financial tool that holds property such as real estate as collateral for a loan. Now, in your scenario the debt is in default due to no cash available. Then, it’s just a waiting game. As soon as the consumer assumes that there may be no recourse and tries to sell the property to move that is when the lien rears its pretty face. And, when the deal passes through escrow, the lien takes first dibbs. Sometimes, if the amount of sale is not adequate the possibility to liquidate may come to mind.

    Answer by Curious George 474 days ago


Your Answer