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Lien on the house
4 years ago I help a friend to buy a mercesdes benz cost $75,000.00 under my name .After 4 monhts she stop paying the car ,used and hide the car from me and from the company reposession. After a year she abundone the car because of registration and the mecedes benz towed it right away and sale it for auction for 40,500.00. I only find out that the company Mercedes Benz put a lien on my house and now they want me to pay 46,000.00 dollars . How can I deal with this problem ? Can I make a deal with this problem ? How long is a lien on the house ? The longer I wait the more money I owe them. How can I get out of this ? Or How can I solve this problem ?
Thanks, Squirell |
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You are in a very serious position.
The lien will stay on the property, until it is paid in full. You will not be able to sell or transfer the property until the lien is paid. For that amount of money, I would suggest that you hire an attorney, now. They will most certainly take further action against you to attempt to recover this judgment such as levy of your bank accounts, garnishment of your wages just to name a couple. The only chance you may have, is if you were never properly served notice of the law suit that they obtained this judgment from. Were you notified to appear in court for the trial or hearing? |
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Yes, you made a 70,000 dollar error, I hope this was a really really good friend. I would not sign for a 70 dollar loan for someone personally.
But that lien will stay on your home till you pay it, or die and they get the money from your estate. As noted you can not sell the home, you can not refi the home until you pay this lien. And depending on what state you live in, since they will have a judgement at this point to be able to put a lien on your home, if allowed, they can garnish your wages and freeze and attach your bank accounts also. ( if your state allows these) But at this point, they have little reason to accept any lower offer, they are holding your house hostage, but then they may accept a lower amount if you want to try. I agree at this point I would use an attorney |
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