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Navigating The Regulations For Lien Foreclosures

The entire purpose of securing your claim with a lien is to allow you an option for recovery if you do not receive payment. Continuous changes in regulations regarding foreclosure make recovery difficult, however, if you do not follow every requirement under the law. In addition, Ohio is a judicial foreclosure state, meaning you must go through a court process. Skilled legal representation can help ensure a thorough and accurate process for a successful lien foreclosure.

Delev & Associates, LLC, is a respected and established creditors’ rights law firm focused on recovering and litigating claims on behalf of businesses, lenders, contractors, insurers and many other types of corporations. Our attorneys understand the law and stay updated on the ever-changing regulations around lien foreclosure.

Mortgage Liens Are A Question Of Priority

When most people think of foreclosure, they think of a mortgage. Some even refer to any type of property lien as a mortgage. Mortgage foreclosures do make up a large portion of foreclosures, where the lender seeks to obtain legal possession of the property. What happens when the debtor has multiple mortgages, however, and your claim does not have first priority?

Mortgages follow the theory of “first in time, first in right.” That means the first person to file a mortgage has the first right to recovery under a foreclosure, and if additional money is available after a foreclosure sale, the next lienholder who filed will be paid. Our firm can assist you with establishing priority and pursuing recovery.

Liens Based On Judgments 

Not every lien was a welcome debt, purposefully established by the property owner. We have helped many clients pursue a judgment lien to collect on an unpaid debt. These may include retail debt, medical claims, HOA liens or mechanic’s liens. Governments may also file tax liens against a property owner who has failed to pay taxes. Whether you are pursuing credit card debt or were not paid for a remodeling job, we can help you establish your lien and pursue payment.

Call To Discuss Your Foreclosure Today

Ensure that you follow the foreclosure process accurately in order to safeguard your claim. Contact the professionals at Delev & Associates today. Call 513-277-0816 or toll-free at 800-593-8453, or email us to schedule a free initial consultation.

We are a collections law firm facilitating both commercial and consumer collections. We do not help people file for bankruptcy relief under the Bankruptcy Code.