Friday, August 20, 2010

How to file a lien against a property?

I loaned money to help with a mortgage payment and would like to file a lien to insure I get that money back.How to file a lien against a property?
i need further clarifications:

since you're talking about mortgage payments, is it safe to assume that you're loaning money to pay off mortgage installments on a real estate property and that you want to have a lien on that same real property?

if that is indeed the case then the creditor of the first mortgage in all probability executed a real mortgage upon the property and had that registered/annotated on the title. if thats the case that means he's the preferred creditor.

it is possible to have a 2nd mortgage on the same property so the first mortgage can be paid off, especially when the property in the mean time has escalated in worth and/or the property was mortgaged for less than its true market value.

you can have the owner of the property sign the 2nd mortgage in your favor, but you'd have to bear the burden of paying off the first mortgage.

another option is you can have the owner of the property execute a deed of sale and/or transfer of rights in your favor to guarantee your loan, but considering that there's an existing mortgage on the property already, that's not a very safe option for you, and you'd still end up paying for the first mortgage.

the best option i think is to have your friend issue a check for the amount you loaned to him or have him issue a promissory note or memorandum. if the amount you loaned was substantial, you can have him execute another mortgage in your favor on some other property be it real or personal, and be sure to have that mortgage registered/annotated on the title.How to file a lien against a property?
My suggestion to you is whenever you lend money no matter who it is always get it in writing. It is never a good idea to lend money to relatives because most of the time if the person is not reliable it causes bitter family feuds. I know that you love your children and you want to do all you can to help them but sometimes the best thing to do for them is to allow them to try to work out the situation themselves. How will they ever learn if your son was facing a possible foreclosure that tells me that he is irresponsible and what happens 6 months down the line when he stops making his mortgage payments again. Sometime the best love is tough love.
The first thing is I understand your dilemma, I have been in the same situation with lending money to children.

You indicated you were not in California as your son is. I suggest that if you think it is important enough for you to get your money back is to make a trip to California and take your son to small claims court.

Once you have won at small claims court, you may file a lien against his house. The filing is good for about 7 years or so. The cost for a small claims court filing is not that expensive and the filing of a lien against his property is not expensive either.

You might be able to file another type of lien against the property also, but I would suggest you do it through a title company or secure the services of a California real estate attorney.

I hope this has been of some use to you, good luck.

Well you have to simply draw up a mortgage and the person you loaned the money to has to sign it and then you have to file it in the county clerks office. If you didnt lend them alot of money then you better just draw up a simple contract and have them sign it saying that they will pay you back. If they dont give you your money back then you can file a judgment against them.
You are in a difficult situation especially if there is no paperwork to backup your claim.

I hope you have expressed to your son that you are lending him money and that you expect and need to be paid back. If not, your son is not expecting to pay you back because he has not done so in the past and is most likely will not do so in the future.

I also doubt that your son would be willing to sign a promissory note if you did not make him sign one in the first place. Without a promissory note, you will have difficulty placing a lien on the property.

Your only other alternative is to go to small claims court and seek payment that way. Even then, without paperwork, it will be your word against his word, unless of course you paid him by check and use your processed check, and your bank statement and his bankstatement as the papertrail.

Your kind act will be paid back when you least expect it and when you need it the most, but I would not expect your son to repay you given his past history of not paying you back.

Love him, let him be, and know not to give him anymore money in the future. Let him be accountable for his own actions and if that means he gets foreclosed upon because of his own irresponsibility, so be it. Some of life's toughest lessons are best learnt by going through the pain unfortunately.

May God and St. Luke be with you when your need arises for financial assistance.

Best Wishes,


How to prevent FHA publishing my loan data?

I have been getting literally TONS of mail (snail) from mortgage brokers stating that I qualify for FHA modification. Many of them I have called to be taken off their lists but I continue to get more. The ones that I requested said they got my info from some clearinghouse or data miner.

I want to prevent the FHA from publishing my loan data to anyone so I do not get this junk mail.

I've searched the HUD website and emailed their support people with absolutely no replies or help whatsoever.

Is there any way to do this?How to prevent FHA publishing my loan data?
Call your county assessors office and ask them to block the information on your file. That is most likely where these companies are getting the information. County records are public for anyone to see.How to prevent FHA publishing my loan data?
Report them to the right authorities to have them blocked. That's the only fast way that I can think of for you to get rid of your problem.
Do what I do. I take all the junk mail and I send it back to them in their prepaid envelopes. After a couple of times, they get the picture. I don't get much mail for these bozos anymore.
This is public information and is obtained through Title companies. All title companies have this information.
Nope...this is public domain data due to the lien on your house and anyone can find it by going down to the courthouse or tax assessors office and looking it up.
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  • How to run credit check on tenants for landloards?

    How to get a credit report for screening potential tenants?

    I help different oversea relatives manage several residential rental properties and do this as personal service without operating a management company. I used to pay ($20 - 25) and ask a friend in mortgage company to run credit reports for screening tenant applicants, but she's not in this field any more. How can I get credit reports for potential tenants? I do have their applications with S.S. and authorization to run credit check, but I am not the property owner.

    Looking to buy a new house and rent out old house?

    How do you go about getting a new mortgage when you are planning on renting out your old house? Does the renter have to be in place before you get the new mortgage? What if the rent does not quite cover the mortgage payment? I am just looking at options, as my husband has accepted a job in a different state. We need to sell our current home, but with the market the way it is, that may be impossible. What if we rent out the old home? I just don't know how this all works...can someone help me?Looking to buy a new house and rent out old house?
    If you can't sell your current home, look at the numbers for refinancing it. You may be able to lower your monthly carrying costs to the point where you can break even or make money on it. Call two or three mortgage brokers and discuss your options.

    Also, keep in mind that anything you do to get your home ready to rent, as well as to put it back into shape after you rent it out, has tax implications. (Read: deductions.) Talk to your tax adviser.

    Depending on what your income will be, and how much of it will go to pay your existing mortgage, you still may be able to purchase a new home. Again, talk to a mortgage broker. Ask them all the questions you mentioned above. And don't feel as though you should know the answers to these questions - very few do.Looking to buy a new house and rent out old house?
    First, you have to apply for the new mortgage. When you apply, if you do not have a lease signed for the rental, you cannot use it as income. So you have to be able to afford both payments and have them not exceep 36-45% of your income.

    If you do have a lease signed, it has to be for at least 3 years or you cannot use the rent as income either. Income from a source other than payroll has to have a continuance for 3 years.

    Renting the other property is a good idea with the market the way it is. But keep in mind that even if a lease is signed, the renter may not pay. Just maker sure that you can actually afford both mortgages or you could be in serious trouble if your renter defaults or if there is a gap between renters.

    Money saving advice for graduate paying off debts...studying..and saving for mortgage!?

    yes i am doing alot! i'm trying to pay off uni debt, also i am doing my masters part time distance learning and i also want to get in a position for 2 years or so time to get a mortgage. Ive been on moneysavingexpert and got some tips already for my car insurence which is due next month....but has anyone any other ideas or helpful tips i may not have thought of. Its very hard with all 3 things. ive no savings at all, and my salary will not allow me to get even a 100% mortage for how much property is in my area. even a studio at the mo is 130k! so any help would be really great. is anyone else in the same position? thanksMoney saving advice for graduate paying off debts...studying..and saving for mortgage!?
    Whatever you do - take no notice of Wesley D.

    Your only chance really is to cut out all luxuries..smoking/drinking/girls etc


    Get a better paid job. I appreciate that a degree these days are handed out to far more than in the past. (near 50% compared to around 13% under a more difficult system) I am sure that you could manage to do a lot better than a call centre.Money saving advice for graduate paying off debts...studying..and saving for mortgage!?
    I've read a few books on the subject- they all basically say the same thing. Write down EVERYTHING you spend your money on for 2 weeks. From buying a new TV to 25 cents at the gumball machine. This helps you get a real look at what you are doing with it, and what you could do better with it. Add the stuff up, and then compare that number with the salary you get for 2 weeks of work. If you spend more then you make, you will be in trouble. If you make more then you spend, good job, put it to paying off more debts. Pay off debts like this- highest interest rate first. They are the ones gauging you the most, get them out of the equasion. Also if you are having trouble with credit card companies, or student loans, simply call them, and tell them you are having trouble paying them back, and see if they can lower your interest rate so that you can afford the payments to get rid of what you owe them. This might sound dumb, but it works- the companies who you owe money to really do want their money back, and they want to make sure they can get it, even if it means taking a loss on the profit.
    I am not in the same situation but I have been in the case where I had to save.

    So here's some advice that might work. It is not only about car insurance, it's about lifestyle as well.

    For example when you need to do short trips get a bike and not the car-this way you will save money on fuel (and avoid rush hour qeues).

    It`s about what we eat and wear as well-sometimes we pay more money on brands but the things is there are same quality products which don`t have an attractive packaging- therefore they are cheaper (but the quality stays the same).

    Savings always come from little things or by cutting down on habits that we got used to so much that we don`t even notice them anymore.

    So try make a list with things you spend money on and see where you can lower the costs.

    Good luck to you and wish you all the best!
    Analyze your spending buy writing down all expenses. This includes your daily weekly monthly, semi annual, annual, and any other you can think of. Compare your expense to your income. View each expense category and find savings. Example (you may be able to raise you deductible on your auto insurance and pay less in insurance premium). Use coupons when shopping, move in with a roommate or relative to share expenses, and consolidate any loans with high interest rates. Consider car pooling. There are many area that your can save. Be sure to nickel and dime yourself to trim your expenses. You may find tips in the financial section of

    Good Luck
    If you can get in touch with me through my 360 profile I will give you a web address of something I do and which can create a substantial extra income on a part time basis.

    What a pity you only asked this question today, as yesterday one of our top ladies was in London at a meeting where you could have found out all about this opportunity.

    Mortgage and divorce i need your help!!!?

    i have been with my husband for 10 years and married for 7 months we have our own home but we have recently split up!

    how do i go about taking my name off the mortgage and how do i file for a divorce???

    i have really tried to make him see sense but he doesn't want to know so please don't think ihaven'tt tried with him and start slatering me i need real smart positive answers please.

    answers asap the stress of all this is getting on top!!Mortgage and divorce i need your help!!!?
    you cant jsut take your name off the mortgage, its shared so you need to sell your half either he buys you out or the house gets sold if he cant afford to

    and phone up citezens advice for the divorce issues and hte mortgage issue for more pratical helpMortgage and divorce i need your help!!!?
    Okay, take this one thing at a time. You need to find an attorney that you can afford that deals with divorce. Attorneys really range in price. I wouldn't go with the cheapest, cause quite often, you get what you pay for. But, I wouldn't go with the most expensive either, because it's not necessary to pay that much for a divorce. If you and your husband can agree on the terms of the divorce, you can even find a divorce service in your area, and that is extremely simple and cheap. Only get an attorney if there is a dispute over something in the divorce. As soon as your divorce is filed, call the mortgage company and tell them about your situation, and they will assist you with taking your name off of the note. The key is not to get overwhelmed. Take it one thing at a time, and remember to breathe, lol. I'm sorry it didn't work out for you, but when one door closes, another will open. Stay strong. Good luck.
    You need to make an appointment with an attorney and ask their advice. Getting your name off of a mortgage involves your husband applying for a new mortgage by himself. After he is approved, they will send you paperwork detailing that you are free and clear from the financial responsibility. It takes awhile sometimes. I should know...I recently divorced and had to get off a mortgage.

    Find a good attorney to make sure you are getting everything you are entitled to. I'm not telling you to take your husband to the cleaners, but make sure you are getting what is rightfully yours. Good luck.
    As you are both on the mortgage you are both liable for repayments, but if you decide to assign the property over you would then need to seek legal advice and depends whether you want to sell the property then you would split the proceeds and repay the mortgage. You need to get proper legal advice and depending which country you are in it will depend on the law for that country as to what portion the wife gets etc.
    The only way to remove a name from a mortgage loan is to refinance. You cannot and should not remove your name until after the divorce has been final. Some states require you to split all assets 50/50, while other states leave it up to the court to split things. Removing your name before the judge has made his ruling on who gets what could cause problems for you and make it look badly.
    You can't take your name off the mortgage. It belongs to both of you. If you divorce the judge will give the house to one of you and whomever gets the house will have to buy the other person out, usually by refinancing. You need to make darn sure that you know what you're doing from a financial point of view because these things can get nasty %26amp; expensive.

    I would suggest you try to see if your marriage can work. 7 months is not a long time. My wife and I split up after 7 months and I was on her house and she wasn't on mine. We spent the next year and a half fighting in court and one kind word after over a year of fighting causes us to begin reconciling.

    I don't know what happened in your marriage; however you committed until death do you part. Regardless of how badly you or he screwed up...divorce is a terrible experience. Unless you both have great incomes and lots of money saved you can anitcipate messing up your credit, losing the house, and possibly needing to file bankruptcy. Ask yourself if that's worth it to get out of your marriage.

    How do I get out of a contract for deed? or get a loan w/a high debt to income ratio and low credit score?

    My husband deserted me and my daughter and his name is still on the contract. He gives me no $$ support. I gross only $2300/mo. A mortgage broker told me my debt to income ratio is too high to get a loan and that my credit score, 545 is too low. They want $180/k for the house and they want me to pay the property taxes, $2700 and since my husband left me with the financial burden and I don鈥檛 have his whereabouts. I hate this bind I am in, can anyone give me some advice? My payment is $1000/mo and I am living on paycheck advances to buy food because of the high house payments which are not being credited to anything, really鈥he mortgage holders are lawyers and are having the payments taken out of my paycheck through a collection company and aren鈥檛 even having the payments reported to the credit bureau to help improve my credit score? I need a quick solution since my husband has been gone for 7 months now. Help?????How do I get out of a contract for deed? or get a loan w/a high debt to income ratio and low credit score?
    get some support...file for it

    then raise your credit score by fixing your credit. if you dispute bad stuff that is ';wrong'; then the credit bureaus will try to validate if it's wrong .... if they cant prove it which alot of time they cant, then it gets deleted or changed to positive. works well.

    then get another cc with higher open balance and transfer the little ones....then kite the cc for a bit to make the credit co's think u can pay your bills then ask them for a credit line increase.....