Collecting a lien on foreclosed property, procedure

I think you should contact an attorney to make sure you get all the proper paperwork in order to collect on the foreclosure.

Definitely call an attorney, but the sad truth is that you cannot 'ensure' that it's paid. It's a risk there killer.  If you bought a property with an outstanding lien, you should have done a title search first.  There is no way to make an investment that carries no risk. That's why they pay extra money back to you as interest.

Hi Dave:

You can have a good paralegal, such as AFTER HOURS LEGAL, LLC., located in N. Las Vegas, NV [702-647-4148] prepare a "Lis Pendes". 

A Lis Pendes, is a legal document for "a lawsuit pending." It is a written notice notifying the public that a lawsuit has been filed involving either the title to the property or a claimed ownership interest in it.

The "Lis Pendes" is a legal Notice to the public usually filed at the County Court house. Recording a "Lis Pendens" against a piece of property alerts a potential purchaser or lender that the property’s title is in question, which makes the property less attractive to a buyer or lender.

After the notice is filed, the person or entity who purchases the land or property described in the notice will be held responsible for paying off your lien hence, you get your lien paid off [when and if, home sold].

Compliments of After Hours Legal, LLC.

P.S. the above comment in no way constitutes legal advice.  AFTER HOURS LEGAL, LLC., is not an attorney office and therefore we are prohibited from giving legal advice.  Please contact a licensed attorney for legal advice. 

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