How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard, Attorney
Category: Legal
Satisfied Customers: 55463
Experience:  Attorney with 29 years of experience.
Type Your Legal Question Here...
Richard is online now
A new question is answered every 9 seconds

Can an individual in colorado place a lein on a home after a

Customer Question

can an individual in colorado place a lein on a home after a judgement has been made?
Can they then force foreclosure on the home?
If the mortage holder as first lein holder take over the foreclosure and leave the individual out of the loop for collection?
If the bank took over the foreclosure would the individual be able to get something from the bank when they eventually sold it?
Submitted: 10 months ago.
Category: Legal
Expert:  Richard replied 10 months ago.

Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

Expert:  Richard replied 10 months ago.

Can you provide me a bit more information? Is this a principal residence? What is the value of the home? What is the balance of the first mortgage? Thanks.

Customer: replied 10 months ago.
principal residence value 650,000to 700.000maybe mortgage about 385,00no other liens and really no cash on hand
Customer: replied 10 months ago.
Ask me more? $59 for a phone call in addition to the 57 and I already paid
Expert:  Richard replied 10 months ago.

There is no need for a phone call; I don't generate that request. I'm typing your response now.

Expert:  Richard replied 10 months ago.

That request is automatically generated by JustAnswer....there is no need to accept and pay the extra amount. :)

Expert:  Richard replied 10 months ago.

Thank for following up.

1) Yes, the individual could place a lien on the homestead if a judgment was awarded.

2) Yes, the individual could force a foreclosure.

3) If there was a foreclosure, there is a cascading of proceeds from the foreclosure sale. First, the mortgage holder would get paid in full. Second, the owner would be protected under the owner's homestead exemption of up $75,000 ($105,000 if the owner, his or her spouse, or dependent is disabled or 60 years of age or older) so that amount would go to the owner. Third, if there was any money left after the foregoing, then the judgment lienholder would get that.

4) If there are no proceeds available to the judgment lien holder from the foreclosure sale, the judgment lienholder is not entitled to any later funds if the home is sold later by the entity who got the house in the foreclosure sale.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (hopefully Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!