How Lender Liens Impact
Individual Units
The lender cannot place a lien on individual units. Individual units
can be bought and sold with no impact on the loan. Homeowners
may be asked to sign a Voluntary Lien Agreement.
A Voluntary Lien Agreement is a consensual claim to the property
of another as collateral to ensure the repayment of a debt. This
would be prepared and recorded by legal counsel. The lien
guarantees the debt will be paid if the owner sells or refinances
their unit during the course of the loan repayment plan. The
lien would be removed by legal counsel upon final payment by
the homeowner.
Consider Associa Financial Solutions, Inc. Associa Financial
Solutions will request legal review of governing documents
related to loan requirements, lien, special assessments, and more.
Dedicated to serving homeowners, Associa Financial Solutions, Inc.
will keep lines of communication open and the board well informed
about the progress.
