The CourthouseDirect.com Blog

Understanding IRS Tax Liens

Posted on Wed, Nov 23, 2016 @ 07:30 AM

If you’ve neglected to pay a tax debt, you may face a federal tax lien. Tax liens from the Internal Revenue Service (IRS) are legal claims against your property when you do not pay what you owe. There are many reasons you may be unable to fully pay your tax debt before the deadline. Unfortunately, the IRS is strict when it comes to payments. Here’s everything you need to know about finding and understanding IRS tax liens.

Read More

Tags: Liens

What Is a Deed in Lieu?

Posted on Wed, Nov 02, 2016 @ 07:30 AM

If you’re a homeowner on the edge of foreclosure, you may have heard the phrase “deed in lieu.” A deed in lieu of foreclosure offers the mortgagor and the mortgagee a variety of benefits over foreclosing a home. Understanding the terms of a deed in lieu and when it’s in your best interest to use this tool is important for protecting your financial future. If it appears your home is on its way to foreclosure, here’s what you need to know.

Read More

Tags: Liens

Why Real Estate Agents Need to Understand Adverse Liens

Posted on Wed, Sep 07, 2016 @ 11:00 AM

Real estate agents must be aware if properties they are selling are on the market because of adverse liens. Adverse liens on a property often change its resale value, and require the agent to take different steps than with a house with a clean title. If a property owner puts up a home as collateral for a loan or debt, and then either voluntarily or involuntarily sells that home, an adverse lien can complicate the transaction.

Read More

Tags: Liens

What is a Mechanic's Lien?

Posted on Tue, Mar 31, 2015 @ 11:30 AM

A mechanic’s lien is available for anyone who provides services or supplies during the course of construction or repair on a property. A lien is simply a legally binding agreement that ensures anyone covered by the lien is paid in the event that the project starter cannot pay. In a mechanic’s lien, laborers and suppliers are ensured payment through the lien.

Read More

Tags: Liens

11 Types of Liens that May Compromise Your Home

Posted on Fri, Feb 06, 2015 @ 08:09 AM

When you have an outstanding debt, the creditor may take out a lien against property you own. This means they legally claim ownership of your property until you satisfy the debt. This can prevent you from selling or refinancing your home and may force you into foreclosure.

Read More

Tags: Liens

How to Perform a Lien Search: The Basics

Posted on Tue, Feb 03, 2015 @ 10:00 AM

Homeowners, contractors, and other professionals in the real estate and construction industries may find it valuable to know how to perform a basic lien search. The information provided in a lien search can answer important questions about a person’s solvency when it comes to creating a new contract.

Read More

Tags: Liens

How to Avoid a Property Tax Lien

Posted on Thu, Jan 08, 2015 @ 08:30 AM

If you aren't unfamiliar with the term “property tax lien,” that’s a good thing. The only reason you would know it is if you don’t pay your taxes. Failure to pay taxes results in property liens placed on your property, including your house, land, car, bank account and sometimes your business or company. After a property tax lien is placed on any of the aforementioned properties, you are limited in actions related to your property until the debt is paid off.

Read More

Tags: Liens

Judgment Liens on Property in Texas

Posted on Mon, Jan 06, 2014 @ 07:00 AM

Texas homeowners who owe money to creditors may be dismayed to learn that state law permits creditors to attach so-called judgment liens to their homes. There are many reasons for creditors to take this step, but most liens follow the same basic pattern. For homeowners who worry about the immediate seizure of their homes, it's important to remember that it can take months or years for lenders to file liens. Additionally, Texas lawmakers have recently enacted some new protections that may make it easier for homeowners to remain in an encumbered home.

Read More

Tags: Liens

Property Tax Lien FAQ, Part 2: How to Avoid & Resolve a Federal Tax Lien

Posted on Mon, Oct 07, 2013 @ 07:00 AM

If you've been hit with a federal tax lien on a piece of real property that you own, you have several options. Despite what you may have heard to the contrary, it's not difficult to resolve a tax lien in your favor. While it will almost certainly require an investment of time and money on your behalf and may even necessitate the sale of your property, it need not serve as a permanent black mark on your personal or financial reputation.

Read More

Tags: Real Estate, Legal Documents, Liens

How Do Lien Short Sales Affect Abstracts of Judgment?

Posted on Mon, Sep 09, 2013 @ 07:00 AM

If you struggle with your monthly mortgage payments and worry about your ability to hold onto your house, you may wish to consider negotiating a short sale with your lender. A short sale may permit you to walk away from your mortgage without devastating your credit score. However, the short sale process comes with a number of little-known pitfalls. If any liens or abstracts of judgment are attached to your distressed property, you'll need to adjust your approach.

Read More

Tags: Liens