I am foreclosing on a rental property, can the lienholder place a lien on my primary residence?
The leasing property was previously my primary residence, but is now vacant (no tenant). We can not afford the payment as the appeal rate has skyrocketed.
NO.
Unless your disorder offers a homestead protection, they can go to court in some states and take a judgement for any deficency balance and apply a lien for the judgement to all real estate.
Check with the county clerk’s office
Unquestionably. Anyone can place a lien on your home for any monies owed. That’s why many people claim bankruptcy. A lot of people are in your shoes right now. Excellent Luck.
a judgement against you personally and a lienb are two different equipment. a judgement can be filed against you but a lien cannot be placed against your home. The only way a lien can be placed on a home is if the work done was to improve the condition of the home or if you sign an covenant allowing a lien to be placed on the home you are in ( this is done at the time of a loan) otherwise the home cannot be touched. A Judgement is a law suit that you loose and the party that wins the lawsiut goes after you to pay. This can only efect your house when you sell it as it will become due as part of the proceeds of the sale of the house
Hope this helps
Your question is somewhat confusing for two reasons.
First you say that you are foreclosing on a leasing property – but it sounds as though you meant to say that you own a leasing property that is being foreclosed upon. These are two different equipment.
I will assume you meant to say that you own a leasing property that is being foreclosed upon, and will try to answer accordingly. But before I do, let me clarify the following reason your question is confusing.
The following confusing thing about your question is that you do not say anything about the “lienholder”. Is this a judgment lien against you? Is this a lien imposed by law upon a particular property? Is this a tax lien? Is this a lien for a mortgage or loan upon real property? If so which real property – your residence or your leasing?
I assume that you are asking if the self or entity who holds the lien that is being foreclosed – i.e. the lien on the leasing property – can place a lien upon your primary residence. The answer is that it depends on what kind of lien it is. If it is for a mortgage or is a lien imposed by law upon the leasing property then probably not. A lien that is imposed by law upon certain real property cannot usually be transferred to another property.
A lien made by a mortgage can be foreclosed (in most states) by judicial (court) proceedings or through non-judicial proceedings. After foreclosure of the mortgage lien most states do not allow the holder of the mortgage to try to collect any deficiency balance. A deficiency balance is the difference between the amount of the mortgage lien and the amount that the property sells for at auction.
But, if it is a judgment lien or tax lien then they probably can place the lien on more than one property. (And I despise to disagree with others who have posted answers – but a judgment becomes a judgment lien in different ways in different states. In most states after a judgment is rendered against you, an abstract of that judgment is recorded at the recorders office and it attaches as a lien to any real property that you own or that you buy after the abstract is recorded.)
You should spend 30 minutes with an attorney and get an answer that you can rely on – as there are just too many unknown facts in your question to give a excellent answer. Most attorneys will give you a 30 minute consultation for free or for a greatly reduced price.
Hope this helps.