Medical Liens

Foreclosures, Short Sales, Tax Foreclosures
1

Ok,

So I thought I found a good deal…but, the house I was going to short sale apparently has 50K+ of medical liens against it.

Can I contact the hospital and “short” the medical liens or is foreclosure the only way this house is going to get rid of the liens.

I am in Florida if that would change anything based on RE law.

Thanks all,

~joshua

2

Joshua,
Any lein or judgement can be discounted. I would get a phone number and person to speak to at the hospital and go to work. Explain the situation to the lienholder and start negotiations. Mark.

3

Do I get a contract or legal document from the lien holder or a contract saying they will release the lien for x amount?

If you could give a little more detailed guidance on this one, I would really appreciate it.

V/R

~joshua

4

Exactly, it’s similar to paying off a note. Negotiate your discount and in exchange for the $ the lienholder provides you a satisfaction of lien document.

5

And I can write up the contract with the hospital to say me executing a lein payoff is dependent on a sale of the property?

Sorry for the dumb questions…just don’t want to pay off his hospital lien with out actually getting the property.

~joshua

6

Try something like this: “the purchase and price is contingent upon and subject to approval of all lenders and lien holders and absent said approval by all lenders and lien holders this contract and purchase may be unilaterally declared null and void and of no further legal effect by the buyer(s). The purchase and price is contingent upon the lenders and lien holders express written approval of a short sale and\or discount”. Mark.

7

That does it…

Thanks so much Mark.

~joshua