What happens with the liens on a home after foreclosure and then sold?
Question : What happens with the liens on a home after foreclosure and then sold?
My son was an owner builder that built a home in Utah. He used my huband’s contractors account to purchase doors and trim for the home. This never got pay due to the home taking longer to build and the construction loan money was depleted due to interest. This supplier filed a lien on the home. My son planned to get a loan for enough money to cover the lien but then my son couldn’t get financing due to the economy and plummeting values. They foreclosed on the home or took it back from our son. Now, we see that someone has moved into this home and we’re thinking it has been sold. We are wondering what happens to the lien from the supplier? Can the supplier still come after us personally for payment?
owner builder construction loans
Best answer:
Answer by WRG
The short answer is if he bought the supplies based on your credit account, yes they can. I’m surprised they haven’t already.
The liens are gone and now they need to sue the account holder for non-payment. They should be able to seize any and all other holdings.