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RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 28038
Experience:  10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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I am owed approximately $28,000 on an unsecured loan (not for

Customer Question

I am owed approximately $28,000 on an unsecured loan (not for work performed). I have been in constant touch with the debtor and have only received empty promises of payment.
What is the process for filing a lien on the debtors residence?
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 2 years ago.
Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help solve your problem.
Good morning. I certainly understand the situation and your concern. Can you share with me what the loan was for?
Customer: replied 2 years ago.
The debtor is the owner of a business which sells high tech hardware and software. The loan was to be used for capital to expand his business.
Expert:  RealEstateAnswer replied 2 years ago.
Thank you for the additional information. Since there is a dispute over money owed and him not repaying you, you would first need to file a lawsuit against him and obtain a judgment. Once you obtain the judgment, it should be paid and if it is not, then you can try and attach the judgment and place a lien on the home, to secure it and to make sure it gets paid, when sold. This is not a situation where work was done on the home and a mechanics lien can just be filed, since this is a contract dispute over money lent and owed.
Please let me know if you have any follow up questions or need any clarification on something which I stated above. Also, remember to rate my service before exiting the site, so I can receive credit for my help. I hope you found it to be Excellent! Only rate my answer when you are 100% satisfied. If you feel the need to click either of the two lower ratings to the left, please stop and reply to me. I want to make sure your experience with the site was as pleasurable as possible and that you are satisfied with the help I provided.
Expert:  RealEstateAnswer replied 2 years ago.
I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!