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    robertchang's Avatar
    robertchang Posts: 1, Reputation: 1
    New Member
     
    #1

    May 27, 2008, 05:23 AM
    Can lender put a lien on a property if I am not on the deed?
    I have a property (house) that I am on the mortgage but not on the deed.
    I have 2 other investment properties that might go into foreclosure.
    Can the lender put a lien on the (house) after foreclosure if I am not on the deed?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    May 27, 2008, 05:52 AM
    If you are not on the deed, you have no ownership interest in the property so they cannot file a lien against it.
    Loan_Guy's Avatar
    Loan_Guy Posts: 83, Reputation: 6
    Junior Member
     
    #3

    May 27, 2008, 08:07 PM
    Quote Originally Posted by robertchang
    I have a property (house) that I am on the mortgage but not on the deed.
    I have 2 other investment properties that might go into foreclosure.
    Can the lender put a lien on the (house) after foreclosure if I am not on the deed?
    Robert,

    I'm not sure I understand why you would have a financial liability for the house, but not have a equitable interest in the asset. As far as I can tell, the scale is tipped greatly, but not in your favor... If you are on the mortgage, you are still hurting your credit if the lender is reporting adverse actions like late payments.

    You said properties that MIGHT go into foreclosure and are worried about a lien from this foreclosure. Have you talked to anyone about a short sale? Is there any equity in any of the properties?

    I'm just throwing some ideas out, as a foreclosure can have devastating effects on your credit for years to come, whereas a short sale, if possible, can often be negotiated to have far less serious effects.

    I wish you luck!

    LG

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