where do liens go?

[floridian]

say you are sued and a party gets a lien put on your home, then the house is forclosed upon... what happens to the lien after the property is removed from your name?

same thing in a car etc... the court grants a lein on secured property. and its repoed and resold..

does the lien go with the item? does it still appear on your credit report? i keep hearing that liens never die, what are they attached to when nothing is left?

[StartingOver08]

For the first question: on a property assume you have a 1st mtg and and 2nd mtg and then a lien for something else. If the 1st mtg forecloses - what they are doing really is not only taking the collateral (property) but getting rid of the jr liens (the jr liens are extinguished). THEN, if the original mortgage paperwork permits (and the law), the lender can go after the debtor for the deficiency and obtain a judgment against the debtor. The debtor can file BK so either the lender is stopped from getting the judgment or the judgment can be voided.

As to the car, same thing. The reposession gets rid of the lien. Then the lender can go after the debtor for the deficiency. If the debtor can't pay, then the lender can get a judgment etc.

If there is nothing left, the judgement is against your name. If you buy something, the lien can attach to the property you buy so the process starts again. There is a time limit for judgments. Here in Fl the judgment lasts 10 yrs and can be renewed for another 10 yrs.

[floridian]

i guess im talking about third party leins... after the property is gone, he cant come after you for a deficiency can they?

if the lein goes against your name and all your property is gone, does the plaintiff have to go back to court and take out some kind of lein against future possessions or something? in other words, you will have an entry on your credit record from then on..

i think i get it now..