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Lien on Forclosed property Texas

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  • Lien on Forclosed property Texas

    I had a lien on a property from a small claims Judgment. Now that property in being foreclosed on, will I ever get my money? Will the bank have to pay any exsisting lien before selling? Thank you in advance for any advise.
    Teri

  • #2
    can you please elaborate? What factors does this depend on?

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    • #3
      Originally posted by TTipps
      I had a lien on a property from a small claims Judgment. Now that property in being foreclosed on, will I ever get my money? Will the bank have to pay any exsisting lien before selling? Thank you in advance for any advise.
      Generally speaking, when a 1st mortgage holder forecloses, it 'wipes off' the additional liens on the property (but it doesn’t 'wipe off' the mortgagor’s responsibility to pay those liens). When the 1st mortgagor holder resells the property if there are excess funds (extra money left after the 1st is paid in full, which includes all their expenses) then you might see some money. Or you might not. It depends the amount of the excess funds, what lien position in you’re in, etc.

      I AM NOT an attorney, but I did work in mortgage servicing for 15 years. You might want to talk to an attorney.

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