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Old 09-23-2008, 05:34 AM
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Default What is a Mortgage Foreclosure/Mechnical Lien lawsuit?

Does that mean the home is going to get foreclosed because someone didn't pay for services rendered on their home?
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Old 09-23-2008, 09:54 AM
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Yes. And usually if the house is being foreclosed the new buyers will need to assume that lien.... unless is it cleary stated in the P&S that the bank must deliever a clean title. I just dealt with this on a transaction and because the realtor didnt put that verbage in the P&S it cost my client 8k in liens (im the mortgage broker). Good luck!!
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