A lien is a claim on a property that you possess, but do not yet own. In the event of default, the lender has the right to repossess or foreclose on the property. The most common liens are those placed on vehicles and real property. The debtor makes payments throughout the term of the loan. There are three outcomes. The debtor makes all the payments until the loan is satisfied, the debtor can sell the property while still owing money on it, using the sale proceeds to retire the debt, or, should the debtor stop making payments; the lender can use the lien to repossess the property. Lien property for sale is just that. Selling your judgment is the easiest and surest way to ensure you are paid.
In the event the property owner loses a lawsuit, a judgment lien is recorded against the property. A lien gives the creditor the right to assume possession of the property should the debtor fail to make good his or her contractual obligation. Judgment liens can be levied against real property, regardless of whether it is business or personal. It is estimated that only 20 percent of court judgments are collected. The process is time-consuming and complicated. Selling the judgment to Mayflower Judgments is one sure way of being paid. Selling to Mayflower Judgments is straightforward and quick. Upon the completion of the transaction, the creditor is paid in cash.
Creditors have options available to collect on outstanding debt. Judgment liens are the primary way to ensure the debt is paid off. The issue is often one of timing. When you have a lien property for sale, it can years before you realize the cash value. There are advantages to selling the judgment. Selling the judgment results in cash, as the property owner, you avoid the long and often frustrating wait that the process often entails.