Legal Question in Real Estate Law in Illinois
Foreclosure with property lien attached
If a bank forecloses on a home and there is a property lien attached, does that lien have to be satisfied before the sale of the property? If so, what action can be taken if that lien was not satisfied before the sale? If not, please explain why.
2 Answers from Attorneys
Re: Foreclosure with property lien attached
Depends on when the lien was filed, and whether the lien holder was named in the foreclosure. Mr. Dobra is correct, if the lien was recorded after the lis pendens for the foreclosure was recorded. Your question is not clear if this is the case or not. You should talk to a real estate attorney.
Re: Foreclosure with property lien attached
Every lien file after the first mortgage is a subordinate or junior lien. So, no. I would suggest that you hire a lawyer to protect your interests.
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