I acquired a trustee's Deed from a Chapter 7 trustee for a piece of real estate
. The house is worth a $1,000,000.
The first mortgage
The second mortgage
) is $100,000
A judgement lien of $600,000 from a separate real estate property.
I am attempting to settle the underlying liens and encumbrances
to obtain marketable title
using litigation and settlement conferences with lenders and I have just hired an attorney with 10 years of servicer employment with Wells Fargo and Bank of America who has been making key introductions to settle these properties.
OK, so that is the business of the company. The company derives income from rental income of these properties. In the course of doing business the company must put in substantial improvements into the property using one of the company's licensed contractors
If I don't do these improvements the properties, that all have many years of deferred maintenance
that has accrued, will begin to physically deteriorate and start to lose value, like all of the other vacant and abandoned foreclosure homes still out there.
My question is can I protect my capital investment into these properties by filing mechanics liens
that follow the Oregon Revised Statutes as to procedure.
I think that this is the basis of my question and I look forward to your response.