How can someone sell a home if it’s got a lien on it? Here are a few thoughts…
Start a Repayment Plan — Most creditors just want their money back and they would be more than happy to offer some sort of payment plan to homeowners. Keep in mind they will charge very high interest rates and make you pay for attorney fees. Plus, you cannot be late at all because they will call the debt due immediately so be careful. It might take a while to get back to square zero, but this is definitely an option.
DON’T Wait To Lose The Home — Ultimately, if a lien continues without being disputed or paid off, the homeowner could lose their property. This will go in your credit for at least 3 years and it will be very hard for you to buy another home again – or you will pay high interest rates, and it might also be hard to find a house to rent as most landlords will look at that as well. So the worst thing anyone can do… is nothing. At the very least, homeowners should try to negotiate the lien to be more affordable.
Sell The Home To a Professional Home Buyer — At Ace Homes, we buy houses as-is for cash, even if there are liens. We’ll pay off all the seller’s loose ends and can get homeowners out of sticky situations. In cases where it’s needed we have closed in as soon as 3 days to avoid for a homeowner to lose their house. We are not agents, so no fees or commission and we pay for closing costs most of the time. Just give us a call at 615 922 6050 to get a fair cash offer on your home!