Ask Terry Questions lien on property

lien on property

By Terry Savage on January 19, 2019 | Housing / Real Estate

My husband and I are buying the lot next door to us. During the final stages of our loan process, a lien appeared on the titlework that we were not aware of. Our mortgagor says we owe them $26,000 plus 5.99% interest on a property my husband signed back to the bank in 2012. We had no idea that our bank had a lien on our home, we even refinanced in 2017, and they never told us even then! Isn’t the bank required to notify you that you have a lien on your property and they are charging you interest every day it’s not paid? We have hired an attorney to help us fight this. ….Wondering what is your opinion about this subject. Thank you so much!

Terry Says

I’m astounded!  Not about the lien, but about the secrecy.  Was it a major bank?  Please let them know that I am interested in writing about your story — when it is resolved!  I hope you have a good attorney — and that you kept all the paperwork when you “signed over” the other property.  It should have released you from all obligations.  That will be the most important legal point!

money

ASK TERRY

a personal
finance question