Alyssa V. asked

⚖️  Law

My Mom bought a property in Florida and had to take a small loan secured by the property due to unexpected closing costs. She paid 50% of the loan within the required time, and the remaining balance can be paid within one week. However, the lender is insisting on placing a lien on the property. What does this mean for the property owner, what happens after the lien is executed, and what is the process? Additionally, if the lien is filed today, what recourse is offered to the owner during the 30 days, and can the owner still settle the loan and prevent foreclosure?

July 16th, 2023

Brian T. answered

Placing a lien on the property means that the property cannot be sold without the permission of the ...

July 16th, 2023

Sign Up to View Full Expert Answers

Create an account to view answers and interact with the community!