My mother has a bail bond lien on her home. She is trying to get a HELOC or first mortgage. The home is fully paid for and worth $220,000. The banker at BB&T wants to get the “loan” in first position. Can someone please help and advise?
Thank you.
Sincerely,
David Sellers
Please…any info would be greatly appreciated.
Thank you.
Merry Christmas
I’m not too familiar with bail bond liens, but if it were a regular lien, and the bank issueing the HELOC wanted first position, the holder of the other lien would just have to send the bank a doc saying that they will subordinate to second position in relation to the other mortgage.
also do a quick search on the forums for “Bail bond”- I seem to remember a thread in another section regarding these recently-maybe it will shed some more light on your question.