October 12th, 2015 by Questions
If you are willing to pay something towards the amount o/s each month can a bank still put a lien against your home even if the line of credit you have is unsecured?
October 14, 2015 at 8:25 pm, Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said:
A lien is defined as “a legal right or interest that a creditor has in another’s property.” Based on the wording of your question it would appear that the bank has obtained a judgment against you for the outstanding line of credit. As such the bank, or the creditor in this case, can file the judgment in Land Titles against the title to your home. While you may be taking reasonable steps to pay off the debt, it is not unreasonable for the bank to file the judgement in Land Titles.
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