Comments on: A credit card company put a lien on my house. I have to sell quick and can’t afford to pay it off. Help!

By: godged

godged — Sat, 25 Apr 2009 23:45:13 +0000

You cannot sell it with the lien. You have to be able to convey clear title to the new owners, and that isn’t going to happen with the lien. Have your Realtor call the credit card company and negotiate a settlement as part of the sale. Then when the closing takes place, the title company will clear the lien as part of the closing.

By: Etta P

Etta P — Thu, 23 Apr 2009 14:36:08 +0000

I wish I had better news. But in order to convey your home to a new buyer there has to be “clear and warrantable title” which means all judgments and liens will have to paid off at time of closing it will deducted from your proceeds and satisfied. Sorry

By: LoRene

LoRene — Tue, 21 Apr 2009 20:32:48 +0000

You need to talk to a lawyer. You do not need to sell your house and it will not be forclosed on unless you do not pay your house payment. The lien cannot force forclosure, they have to wait for the money until you sell your house, even if it is 50 years from now. It will however continue to impact your credit rating.

By: webwench2005

webwench2005 — Sat, 18 Apr 2009 16:02:43 +0000

Go to this web site, they will buy your house (not just take over the payments until they can sell it.) so you don’t go into foreclosure. Good idea to get to a credit counselor as well.

By: Raoul I

Raoul I — Fri, 17 Apr 2009 01:59:47 +0000

Call or have your Real Estate Broker or escrow agent call the credit card company’s department that handles payoff demands.
Tell them that that there isn’t enough equity to cover the credit card debt. Ask for a short payoff.
They might reduce the debt if they realize that they won’t see anything if they don’t facilitate the close.

By: Joe S

Joe S — Tue, 14 Apr 2009 21:34:28 +0000

When someone puts a lein on your house it usually means that if you sell it you have the amount owed garnished out of the proceeds of the sale. If you are still paying on the house then they can’t take it away from you, it doesn’t belong to you. Until you make your final payment it is owned by the mortgage lender.
It sounds like they are just trying to scare you. I don’t know where you live, but here in Tx. you have what is called Homestead Exemption, it prevents you from losing your house because of debt other than the mortgage, or foreclosure. A credit card can’t foreclose on a loan by a mortgage lender, only the lender can foreclose.

By: cop350zx

cop350zx — Mon, 13 Apr 2009 09:08:02 +0000

If you only lost your job a year ago, you wouldn’t have time to get THAT FAR behind for a credit card company to go out and get a lien on your house.

You have been living your life how you see fit, despite your income, and decided not to pay your bills. Guess what! The piper has not been paid either…and it’s time. Become homeless and move into a shelter until you get off your lazy ass and get a real job and pay your real bills.

Stop living off the kindness of others.

By: jjdriskel

jjdriskel — Fri, 10 Apr 2009 15:42:40 +0000

Please double check with a real estate attorney as this is a serious legal matter.

By: wawawebis

wawawebis — Thu, 09 Apr 2009 04:44:39 +0000

get a bancruptcy lawyer….
go to court because they can’t take a loan on your house, only a judgement against you. Hope you didn’t get a really sucky credit card with yucky fine print….
call Legal Aid in your area soon, it can take awhile to get help.

By: Michelle H

Michelle H — Wed, 08 Apr 2009 19:57:46 +0000

Depending on how much equity you have in your house, that equity will be used to satisfy the lien. You can still probably sell the house, but you just won’t get that much out of it.

Sounds like you’ve had a rough year. I wish you all the best, and hope things get better.