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Does a Lien Affect Your Credit Score?

Levelset

If you receive a notice that a lien has been filed on your property, you may wonder how it will affect your credit score and your ability to borrow money or get credit. Mechanics liens are different from other collection instruments, so they are treated differently when it comes to reporting on your credit history. What is a lien?

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Pennsylvania Appellate Court Clarifies Recovery and Service Requirements of Mechanics’ Lien Law

Constructlaw

The Superior Court of Pennsylvania concluded 2023 by issuing two opinions that clarify (1) the costs recoverable under the Lien Law and (2) the requirements for perfecting service of a lien claim. The trial court sustained the preliminary objections and dismissed the lien. Second, in Belfor Prop. Restoration v.

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10 Ways a Mechanic’s Lien Gets You Paid

Construction Business Owner

Most people in the construction industry have heard of the term “mechanic’s lien.” But if you ask anyone to explain what a lien is, how it works or even how the word is spelled, you will likely learn that their knowledge about mechanic’s liens is basic at best.

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Mechanics liens up 40% as COVID-19 pandemic disrupts industry

Construction Dive

The increase in liens filed from January through March indicates that contractors and suppliers took action to protect their payments as projects began to shut down in response to the novel coronavirus.

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Simplifying Lien Waivers

Construction Business Owner

The mechanics lien is a powerful tool, but in everyday practice, the true value of a mechanics lien may be in waiving the right to claim one. Unlike the mechanics lien itself, waiving the right to claim a lien can work to the benefit of all parties and can be a true collaborative, relationship-building moment.

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Change in Georgia Lien Law

Constructlaw

This new law, which is codified at Title 44, Chapter 14, Section 366 of the Official Code of Georgia Annotated, substantially changes the way Georgia interprets statutory interim and final lien waivers. A lien waiver will do only that – waive liens against the subject property. Change in Law. ALA Constr. O.C.G.A. § 44-14-366(a).

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Texas Homestead Lien Rules & Requirements

Levelset

Mechanics liens are among the most powerful tools for contractors to ensure they get paid what they’ve earned on a construction project. In Texas, contractors must send multiple notices and meet strict deadlines to preserve their right to a lien if they need to file one. Rules & requirements for a homestead lien.

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