Legal Question in Real Estate Law in New Hampshire
Lien on Property
I was just wondering if I could sell
my home without paying the lien on
the property. The lien was a result of
a judgement and if I dont sell now
my home will be forclosed on. I can
only sell my home for $205,000 and
the lien plus mortgages equals
250,000. 175 for the mortgage and
the rest is the lien. Is there a way to
sell my home or do I need to go into
forclosure?
1 Answer from Attorneys
Re: Lien on Property
The technical answer is yes. However, who would buy a home with the lien attached? The lien is against the land and building. Any purchaser would be obligated to pay the lien. No bank or lender would provide a mortgage with a lien against the house as it would be subordinated to their mortgage.
Perhaps there is some ability to compromise the lien with the attaching creditor so that all the funds could go to pay the obligations and you could avoid a foreclosure on your credit record. This is clearly a highly technical area and you would be well advised to sit down with an attorney to discuss all the details in an effort to work out a reasonable solution.
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