Michael Rothstein, GRI , Hammond Residential Real EstatePhone: (617) 470-3165
Email: [email protected]
Email: [email protected]
Whether you’re a new homeowner or you’ve owned your property for years, there’s an understanding around the importance of paying off your mortgage loan. Mortgage liens as a result of nonpayment can put your home at risk, so understanding what they are and how to remove them is crucial
In real estate, a lien is an asset bound by contract which acts as collateral for a company or individual in the case an agreement isn’t fulfilled.
When you sign a contract for a mortgage loan, many lenders use the home being purchased for collateral. If the borrower defaults on the loan, the home may be confiscated by the mortgage company. A lien mortgage applies directly through your lender, whereas tax liens are involuntary through the state.
To avoid foreclosure, it’s vital to handle liens on a property. One of the first ways to satisfy a mortgage lien is by paying off the debt owed on the home. You can work with your lender to form a payment plan or negotiate for a partial payment offer.
If the lien on your home is of no fault of your own, as a property owner, you can take your case to court to legally have the lien removed. This may be most ideal if you’ve already paid off the debt owed on the home and there was a payment mix up or if your lender used underhanded means.
If you have a lien on your home and need help paying money owed on the property, consider speaking with your lender to form the best plan of action to have it removed.
Active in residential brokerage since 1985, Michael enjoys a loyal following of past buyers and sellers. Prior to entering brokerage, he studied culinary arts and managed restaurants in the Boston area. Born and raised in Newton, Michael is very familiar with the Greater Boston area. His seven-day-a-week commitment to his profession serves his clients and customers well. His educational background includes The Johnson & Wales Culinary Institute, The Lee Institute for Real Estate, and The Tom Hopkins and Floyd Wickman Sales Training courses.
In recognition of his completion of the prescribed courses in real estate practice and ethics, Michael has earned the distinguished GRI (Graduate, Realtor Institute) designation. He continues his long-standing membership in the National Association of Realtors and is an avid fly fisherman, musician, and outdoor enthusiast.
Michael was awarded the International President's Circle Award for sales expertise, market knowledge, and dedication to clients for 2020 and 2021. In 2022 and 2023 he was awarded the International Presidents Elite Award, representing the Top 2% of Hammond Residential & Coldwell Banker Agents Worldwide, for demonstrating exceptional sales production, ambition and his commitment to the Real Estate Industry.
