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  #1  
Old 09-19-2005, 04:51 PM
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Join Date: Sep 2005
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No Fee = $25,000

What is the name of your state? CA

Is it legal for a company to offer to help a buyer purchase a home for "No fee" and then put a $25,000 lien on the property? The lien will become payable if the buyer sells or refinances the property within 5yrs. Is there anyway to have this lien removed.
  #2  
Old 09-19-2005, 05:22 PM
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Join Date: Aug 2005
Posts: 1,964
Well it sure sounds like a new way to have a prepayment penalty added to a contract. Which is all it is, but the lien I have not heard of before!
  #3  
Old 09-20-2005, 07:10 AM
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Join Date: Aug 2005
Posts: 1,964
Is this a special circumstances loan like your state or city etc. is backing part of the loan?
  #4  
Old 09-20-2005, 12:38 PM
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Join Date: Mar 2002
Posts: 218
You need to be more specific.

What company helped you and how did they help you?
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