More details to this question:
I have a house in Williamsburg that I own with no mortgage. Can I add someone on my house as a lien, meaning if I owe someone $30k, I would like them to put a lien on the house for which would be my security to them. and would only be on until I paid off.
1 ANSWER
Yes, it is not unusual for a borrower or debtor to provide the creditor with a mortgage lien on real property to secure the debt. If you already had a mortgage, this lien would be a second or junior mortgage. The process may differ from state to state, however, and I don't know the procedure in Colorado.
Answered on Dec 28th, 2016 at 1:34 PM