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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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You Risk Paying Twice When Sub-Contractors Don’t Pay Their Bills

Wolgast Corporation

Liens Can Wreak Havoc on Funding. On top of that, that they expect you, the owner, to guarantee to the Bank and the Title Company that the project will be lien-free during construction. The lien laws protect people that supply the resources to build a building. By Brian Stadler, Wolgast President & CEO. Why should you care?

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NY Appellate Court Enforces Pay-If-Paid Provision Against Party With No Lien Rights

Constructlaw

Entech sued to recover damages based on three unpaid invoices, including a cause of action for foreclosure on a public improvement lien. Here, Entech had no lien law rights. The lower court had dismissed its cause of action for foreclosure on a public improvement lien.

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Autodesk Doubles Down in Helping the Construction Industry Reduce Risk 

Autodesk Construction Cloud

So how can companies optimize for their bottom line without putting their businesses at risk? . Firms that want to stay both competitive and resilient in an evolving economic landscape need a strong risk management strategy – yet this is easier said than done. Risk management is a multifaceted challenge.

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5 Challenges in Meeting Construction Deadlines and How To Solve Them

Construction Marketing

A lien waiver is a fancy word used in the construction industry for receipt of payment. issues a lien waiver to another party, they are acknowledging that payment has been received for their goods or services, thereby waiving their rights to place a mechanics lien against the property in the said amount. Waiting for Payment.

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4 Key Habits of Large, Successful Contractors

Levelset

However, smaller construction businesses are much less likely to prequalify their customers than larger businesses — and that could increase the risk of slow payment. Larger companies tend to send preliminary notices on every project or at least situationally — like when they’re required for protecting lien rights.

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#82:  Extending the Deadline for Securing a Mechanic's Lien

NH Construction Law

RSA 447:9 and :10 provide that a mechanic’s lien must be secured through an attachment of the property improved within 120 days of the lienor’s last furnishing of labor or materials. I conclude that the 120-day deadline for an attachment to perfect a mechanic’s lien may be extended by agreement with the owner.

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