Who Can Put a Lien on Your House?

Answer

A lien is a legal claim on an asset that allows the lien holder to take possession of the asset if certain conditions aren't met. The lien holder is the one who puts the lien on your. Until the mortgage or auto loan is repaid, the lender has a lien on the property. The lien allows the lender to foreclose or repossess the property if the property owner falls behind on payments. If your house has a lien on it, the lien holder can sell it at anytime to satisfy payment for your debt.
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1 Additional Answer
Ask.com Answer for: who can put a lien on your house
Who Can Put a Lien on My House?
When you are a homeowner, you have to deal with the possibility of someone putting a lien on your house. A lien is a claim against your property and it could arise from several different types of debt that you have. Understanding who can put a lien on... More »
Difficulty: Easy
Source: www.ehow.com
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