Releasing Liens - Posted by Mike

Real Estate Investing
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Posted by JT-IN on July 17, 2003 at 14:28:39:

Mike:

There are lots of ways to get liens released, but the most effective way is to purchase the Lien at a discount, via an assignment, then release it yourself. Depending what type of lien it is and how much at risk the lien is, will determine how much it can be acquired for… in most cases.

Releasing the property and having the lien stay with the person, sounds a lot like dealing with the IRS and their liens. Depending upon the euity in the property, sometimes this is possible, but it takes time and finnesse.

What type of lien is it, and how much are the other liens on the property…? How much at risk is the lien that you refer to…? Who is it with…?

JT-IN

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Releasing Liens - Posted by Mike

Posted by Mike on July 17, 2003 at 12:01:03:

I have stumbled on a motivated seller who had a personal lien put on her home. She is in Foreclosure and I wanted to try and short sale the property. My 2nd option would be to take over the loan by getting the deed and making the loan current. Except this new lien.

Ron LeGrand had once said you can get liens that are put on the home, placed back on the person thus removing the lien on the house.

Does anyone have any experience with the steps I need to take in order to do this?

Thanks
Mike