Can a creditor put a lein on debtor who owns a home jointly (spouse )with $9k equity with debt of 64k?

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Can a creditor put a lein on debtor who owns a home jointly (spouse )with $9k equity with debt of 64k?

2007-06-10 11:08:19 · 4 answers · asked by cynthia B 1 in Business & Finance ➔ Credit

4 answers

No and Yes. The creditor usually can't put a lien on a house unless the original loan contract allows such a lien. There is no such thing as a lien against the DEBTOR. Only property is subject to a lien, not the person.

2007-06-10 12:03:07 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋

Yes, the amount of equity is not relevent to the fact that they deserve their money from the debtor.

2007-06-10 18:10:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋

yes they do.

2007-06-10 18:10:54 · answer #3 · answered by ? 7 · 0⤊ 0⤋

GIVE ME ORAL

2007-06-10 18:10:32 · answer #4 · answered by blacklight012 1 · 0⤊ 3⤋