Dc Fawcett Reviews – Dc Fawcett real estate In the world of real estate there are so many investment avenues and tax lien investing is one such type and it is definitely one of the easiest roads to profits, only if you do it right. Being the hunt of veteran and savvy investors, it offers abundant proceeds; nevertheless, there are probabilities for you to go down easily, if you are not doing your groundwork and following a line of investigation.DC Fawcett Virtual Real Estate Investing club
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This article DC Fawcett real estate review about voluntary liens will walk you through the most important aspects and will give you a deeper review of the same which in turn will help you make a safe and sound investment.
A voluntary lien is a contractual or consensual type of lien in which the property owner grants the lien holder a legal claim as a collateral or assurance for payment of a debt or a service rendered. By taking it out, he/she has consented to the lien. Simply put, it is a claim that “Mr. X” has over the property of “Mr. Y” as a security for the payment of a debt or liability.
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However, the property owner should be cautious about cross-collateralization clauses. Collateral for one loan also used for another loan is cross-collateralization and it is a buyer-beware proposition because it grants the lender the right to use your real estate property not only as security for the loan you take out, but also for the future loans you get from that same lender.
A deeper review about voluntary liens
In general, a voluntary lien is also known as consensual lien and it is nothing but when a person takes out a mortgage or loan to buy a luxurious vehicle or a house he/she has created a voluntary lien because the asset possessed is the collateral for the loan. By doing so, i.e., by opting for it, they have consented to the lien; having said that, there are quite a few other instances in which a lien would be used as a security.
- Business loan
- Rent-to-own appliances
- Credit agreement
- Personal loan with collateral
Even though the lien is place on the property for which the loan/credit is obtained, that is not the case at all times. Occasionally the asset secures the possession of a cash advance or line of credit. In simple, the lien holder does not take control or ownership of the property, but takes a security interest in the property. When a lien is attached to a property, the owner cannot sell or refinance, however, if he/she defaults, then the lien holder has all rights to take possession.
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