Foreclosure Liens - Who Gets Paid First?
Автор: ForeclosuresRaleigh
Загружено: 2013-01-22
Просмотров: 800
Описание:
First the bank gives notification that a Foreclosure will be occurring. This gives time for creditors to step in an make a claim. If a lien, filed prior to others, forecloses, all subsequent liens are wiped out. There are exceptions however.
Mechanics liens (carpenter, plumber, roof repair who did work on the home but never got paid, or money is owed them) will usually stay with the foreclosure, Second (can be a home equity line), and Third mortgage, it any all stay, depending on which lien holder files for foreclosure.
Liens are paid in order of the date of filing. Tax liens are always paid first, regardless when filed, and generally always get paid.
To learn more from foreclosure specialist, Peter Greijn, or to purchase a foreclosed home in the Raleigh area, please visit Referral Realty's website: http://rrg-foreclosures.com/foreclosu...
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