What is a Judgment Lien?
A judgment lien is a legal claim placed on a property by a creditor who has obtained a court judgment against the property owner. Essentially, it gives the creditor the right to be paid out of the proceeds of the sale or refinance of the property before the property owner can receive any money. The lien attaches to the property and remains there until the debt is paid or the lien is released.
Why is a Judgment Lien Bad?
There are several reasons why a judgment lien is bad news for property owners. First, it can prevent them from selling or refinancing the property without paying off the lien. This can be a significant burden if the owner needs to access the equity in their property for other purposes, such as paying off other debts or making home improvements. Second, a judgment lien can negatively impact the owner’s credit score, making it harder to obtain credit in the future. Finally, if the owner is unable to pay off the debt, the lien can result in the loss of the property.
How Michael Daniel Investments Can Help
At Michael Daniel Investments, we understand the stress and frustration that come with dealing with a judgment lien. That’s why we offer a range of services to help property owners address and resolve judgment liens on their property.
One of the ways we can help is by negotiating with the creditor to reduce or release the lien. Our team has extensive experience in negotiating with creditors and can often reach a favorable agreement that reduces the amount owed or releases the lien entirely. This can help property owners regain control of their property and avoid the negative consequences of a judgment lien.
Another way we can help is by purchasing the property, even if it has a judgment lien attached to it. We specialize in buying distressed properties, including those with judgment liens, and can offer a fair price for the property, even if it has been difficult to sell through traditional channels. This can provide much-needed liquidity for property owners and relieve the stress of dealing with a judgment lien.
Finally, we can help property owners understand their legal options for addressing a judgment lien. Our network of legal professionals can provide expert advice on how to deal with a judgment lien, including the possibility of filing for bankruptcy or seeking a lien release through the court system.
Do you have questions about Judgements or Liens? Contact us today!