In Nevada, I have a lien on the property, then the owner has filed a homestead after my privilege, which has priority? Posted in real estate in the first has precedence. For example, a first mortgage is called first because it came first, a second mortgage is called a second, because he came second (in time).
It depends on the type of privilege, it is. If an engineer, a mortgage, trust deed, second mortgage, or similar, so there is no waiver and no protection firm. If this is not one of the above types of privileges, the amount of coverage is generally worked as follows: the house is sold, the loan is repaid, the owner receives about $ 500,000 in equity, then Other lienholders paid.
As if the type of privilege is not a mortgage or mechanic, you can always force the liquidation of assets ... will often be in the form of an auction where the owner does not receive much .... often only the amount of the mortgage. That should be enough incentive to start getting paid again.
Posted on February 10, 2010.
