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unclemike10k · Feb 14, 2009, 04:16 PM

We lent a large sum of money to a family member who lives in our same town in Maryland on an oral promise that we would be repaid, but we have not been repaid. We want to put a lien on their personal residence. Maryland allows us to file a Complaint for Confessed Judgment, but there must be a written instrument authorizing the confession of judgment. If they sign an Affidavit and Confession of Judgment (notarized) stating the facts, acknowledging we loaned the money and they promised to pay, authorizing the confession of judgment, and agreeing we can put a lien on their house once we get the Judgment – is that enough?

twinkiedooter · Feb 14, 2009, 04:43 PM

You'll probably have to take them to court over the repayment of the loan. I doubt anyone will sign anything like that knowing full well there will be a judgment against them.

unclemike10k · Feb 14, 2009, 04:55 PM

Originally Posted by twinkiedooter

You'll probably have to take them to court over the repayment of the loan. I doubt anyone will sign anything like that knowing full well there will be a judgment against them.

They have agreed to sign the form. Is there anything else I need to do?

twinkiedooter · Feb 14, 2009, 05:17 PM

You will have to present this to a judge for a judgment to be entered.

ScottGem · Feb 14, 2009, 05:17 PM

To place a lien on their primary residence will require that you obtain a judgement against them. If they sign a statement that they owe you rhe money, the judgement will be a slam dunk.

However, placing a lien on their home gets you nothing until the house is sold. And even then, it has to be sold for enough to cover prior liens.

If they have enough equity in their house, tell them to take a home equity loan to pay you off.