article thumbnail

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?

Lien 96
article thumbnail

Be Ready to Lien in 2009 (But be Careful)

Help Everybody Everyday

2009 is likely to be a year in which many construction liens are filed. As all of us in construction know, and as reported in the AGC Smart Brief , the beginning of 2009 and through 2010 will likely show an even greater downturn in the commercial and residential markets. Kaled Naser, et. CL07-5431 (Va. Kaled Naser, et. CL07-5431 (Va.

Lien 48
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

#130:  Secured Lenders' Rights to Construction Contract Payments

NH Construction Law

It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. Not unless he is prepared to pay twice! Otherwise all construction contracts would have such a clause, thwarting the lender’s statutory rights.

article thumbnail

Construction Estimating

Chianelli Estimating

Many times those costs are not recovered, however; they could make the difference in keeping the Builder or Owner solvent or ending up with a failed project or worse yet bankruptcy. A good estimate requires time to develop which directly effects the Owner’s, Contractor’s, Architect’s and Engineer’s cost of doing business.

article thumbnail

constructionattorneyblog: Waivers of liens: fraud

Construction Lawyer

The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Waivers of liens: fraud. Listed below are links to weblogs that reference Waivers of liens: fraud : Recent Posts. mechanics liens. Categories.

Lien 40
article thumbnail

constructionattorneyblog: New York court holds that contractor.

Construction Lawyer

The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. New York court holds that contractor installing cogeneration system not entitled to a mechanics lien.   Chapeau filed bankruptcy. mechanics liens.

article thumbnail

Seventh Circuit examines "pay-if-paid" provision

Construction Lawyer

The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Fidelity had issued a payment bond, but Fidelity refused to pay after the owner declared bankruptcy, and BMD sued Fidelity. mechanics liens. Categories.