| refinancing their mortgages. But what few homeowners realize is that refinancing exposes them to greater losses if lenders foreclose on their property. As long as homeowners retain their original mortgage, a little-known state law prevents lenders from going after fha illinois mortgage rate than just the home. Refinancing frees lenders to go after cars, savings and brokerage accounts, unrelated real estate holdings and other assets to make up the difference -- even if it takes a decade or more to square the debt. The risks are small fha illinois mortgage rate home values are zooming as they are today. But some experts warn that could change if the state's housing market stumbles or if there is a major natural disaster, such as an earthquake. Lenders also will get more leverage starting today fha illinois mortgage rate sweeping changes to federal bankruptcy laws make it much harder for Americans to wipe out debts in court. A mechanics lien is a hold on real property for the benefit of someone whose work or property improves fha illinois mortgage rate property. It is called by various names, including materialman's lien, supplier's lien, laborer's lien and others. Through "perfecting" a lien, the technical term for establishing a mechanics lien, the owner's title to the property suffers an interference that will have to be addressed before the owner can restore clear title. Generally, a lien would only arise if there is a payment dispute, fha illinois mortgage rate some states (e.g. California) require pre-lien notices at the beginning of a project. Since real property ownership is fha illinois mortgage rate a function of state law, establishing a mechanics lien is mostly a process governed by state law, in particular a mechanics lien statute. The process for perfecting a mechanics lien varies significantly from state to state. However, common parts of the process of perfecting a mechanics lien include notice to the owner fha illinois mortgage rate to other persons or entities involved in the construction project, and also the drafting and filing of a document with the government office that records deeds or titles to land. |
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