Lien Property for Sale: Tips for Using Creative Finance Strategies

Financial service

In many states, creditors are allowed to place a lien on the primary home or property of the debtor for unpaid bills. These bills could be from an unpaid credit card, medical bills, or even unpaid utility bills. The liens are placed after a lawsuit is filed and judgment of the property is issued and signed by a judge. Real estate judgments will stay with the home and must be paid if the property is sold or if a court forces the property to be sold.

Mayflower Judgments has been buying real estate judgments and liens since 1986. There are no lawyer fees and no collection agencies to hassle with. Mayflower Judgments simply purchase the judgments and liens that are secured by real estate.

Selling real estate judgments is very easy. Once the lien and the property are evaluated, the lien may or may not be purchased at a reduced rate. If the lien is purchased, then the buyer will now own the lien and will collect the funds from the property owner.

In most states, if the property owner does not pay the lien or judgment, the property can be sold to collect the value of the lien. Many times, judgments or liens are not only for real property but can also be against personal property such as artwork, jewelry, or vehicles.

For people or businesses who have won a judgment or a lien against a debtor, selling the lien can be a way of bringing in cash. When the lien or judgment is sold, it is sold at a reduced rate. The company buying the lien or judgment will now be the entity responsible for collecting the funds from the debtor.

Companies that purchase outstanding liens or real estate judgments tend to be easy to work with. They work well with small business owners, banks, lawyers, accountants, hospitals, and more.

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