Lien on house?

Toney
we have bought a 80, 000 business and paid 60, 000. and for 20 000 there is a mortgage signed lien on our house. But he did not transfer the business franchise/lease in our name which is why we could not run the business. We lost everything in the business and he asked to return the business back to him and he promise he'd remove the lien from the house and also give us $10 000 back we only made a verbal agreement but there was no paper signature involved. We left the business as he required of u to but he didnt remove the lien from our house nor did he give us 10 000 money that he promised. We sold our property and also took loans and put the money to run our store but lost a lot of money. After closing the business our credit went bad, and we could not refinance our house because of the lien on the house. Is there any way where we can remove his lien over our house and re finance our house before there is a foreclosure on it?

Shawnee
Only an attorney can help you with this.I recommend that you get one immediately.

Kristal
you got screwed !!!First you paid 60K, the business should then have gone inyour name, but that is no excuse not to run the businessyou didn't get anything in writing about the lien removalor 10K.However, I'm not sure how much of the 60K you couldget back. I would definitely hire a lawyer !!!If the business wasn't in your name then how did itaffect your credit. So something is definitely not rightget a lawyer.

Andres
You are in a very serious situation. First I think you should not go into business of any sorts until you learn the basic princial of business. ALWAYS get agreements in writing. Dont worry about offending. Anyone who is a professional will have no problems with this. I am most concerned with your description that you sold your property, took out additional loans, used that money to run your store and still lost money. Why are you looking to refinance your house? If it is to consolidate your debt, then I might consider bankruptcy. As far as the lien is concerned, only the person that has placed the lien on your property can remove the lien. Since all of your agreements were verbal except for the lien, in my opinion, you are out of luck. I dont think a court would rule in your favor. You have a very serious situation and need to consult professional help. I dont think this is the best place to seek the level of help you need.Good luck.By the way I mean no offense to anyone who enjoys using these sites for fun and to exchange ideas. This situation sounds serious and going to take a lot more space than we are alotted.

Denver
You can only remove the lien by paying him off, or suing him and winning - and I'm not sure you have grounds to win. Moral grounds, yes, but legal? Not if he disagrees with that verbal agreement.