Foreclosure on property in which I have a lien on title
I currently have a lien on a property which is going into foreclosure and I have just received a summons naming me as a defendent from the mortgage company. It appears that the property owners have not paid the mortgage for several months. Do I need to do anything to protect my rights to still claim the lien?
Re: Foreclosure on property in which I have a lien on title
You do not describe your lien, or what position it has in relationship to the mortgage being foreclosed? You also do not provide information on the value of the property, any equity it has, or how your lien arose? You must defend the foreclosure to protect your interest in the property. Unless some arrangement is made with the mortgage company, you are at risk of having the property sold and not getting anything from the sale. As stated, more information is needed to provide a better response.
