Home Selling in Buffalo>Question Details

Maria, Home Seller in Woodside, NY

if a lean is to be applied to the property will it accumulate interests?

Asked by Maria, Woodside, NY Sat Dec 26, 2009

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Robbie Vaughn, Esq.’s answer
Hello Maria,

I will not attempt to give you an answer without knowing all the facts, but here is a Newsday article on home liens:
Home liens: preventing and removing them

http://www.newsday.com/classifieds/real-estate/home-liens-pr…

Btw, I think Mr. Sorrentino has given you some sound advice.

This is the best I can do on this Q & A forum. Hope this helps some.

All the best,

Robbie L. Vaughn, Esq. (Robbie Vaughn)
Long Island Real Estate Attorney
70 West Main st.
East Islip, NY 11730
631-277-4907

Disclaimer:
No Attorney-Client, or Broker-Client relationship is formed until we have a signed agreement. This is not legal advice. Please verify any and all information provided to you.
Web Reference: http://Rlvaughnlaw.com
0 votes Thank Flag Link Sun Dec 27, 2009
BEST ANSWER
Yes, typically the do. The document that is filed will say if there is interest and what rate it is. There should also be contact info on how to pay off the lien.
0 votes Thank Flag Link Sat Dec 26, 2009
Maria, I want to reiterate, call an attorney. From the sounds of your question, a lien has not been filed yet so you will not get the answer to your question by calling a municipal government office. Furthermore, Liens when they are filed are usually filed in your County clerk's office (in NY State) not in a town, city or village. Those municipalities generally would only know about liens filed by that particular city, town, or village.
Is it going to be a lien on your property or a judgement? There is a difference.
Call an attorney or legal aid or, the party that will be filing to get an answer to your question.
0 votes Thank Flag Link Sat Dec 26, 2009
Maria, call the city/township tax collector's office where the home is located. They will be able to tell you what liens are on a home and if they are accumulating interest.

If you are referring to a tax lien, they generally do (though not always) accumulate interest.
0 votes Thank Flag Link Sat Dec 26, 2009
The best thing for you to do is to contact an attorney who has expertise in real estate law,bankruptcy or debt collection. Without knowing the kind of lien filed, no one here can answer your question. It also depends on what state it is filed in. The satisfying of certain liens may be negotiated to remove them.
An attorney conversation is your 1st step. Can't afford one, call your local legal aid office.
Joe Sorrentino
Assoc. Real Estate Broker
MJ Peterson Real Estate
0 votes Thank Flag Link Sat Dec 26, 2009
If the lien is a mortgage, interest will be charged. If the lien is not a mortgage, then it depends on a great many factors as to whether interest will be charged.
Web Reference: http://www.phgbrokers.com
0 votes Thank Flag Link Sat Dec 26, 2009
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