QUESTION
Refinancing Home but can't because previous Borrower has Lien against property but hasn't been responsible for over 3 years. What are my options
Asked on Apr 09th, 2013 on Residential Real Estate - Colorado
More details to this question:
I purchased a house with an individual almost 9 years ago, and he is listed on the loan and deed. He hasn't lived in the house or had any financial responsibility to the house for over 3 years. I am currently going through the refinance process and was told that there are two liens on the property in his name from collection companies. I haven't spoken with this person in 3 years, and don't want to be stuck with these issues. From what I understand is that if he does a quit claim deed it doesn't remove any liens and could even be illegal. What are my options to get these liens removed from the house so I can move forward with the refinancing?
1 ANSWER
3 Awards
Tristan,
I wish you would have called me three years ago, we would have gotten his name removed from your property and then the liens would not have attached.
Now the liens are there, the only way to remove them is to pay the lien holder, negotiate a settlement with the lien holder, or force the individual who is the subject of the liens to have them removed.
If you have to settle the liens in order to complete the refinance we can bring suit against him for the costs.
Feel free to call me for a free consultation where we can discuss the specific facts and action needed. Just tell Susan that we spoke on Ask a Lawyer and you are calling for an appointment.
Don Eby
303-688-0944
Answered on Apr 10th, 2013 at 3:47 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.