25000 Lien?

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  • #65024
    HopefulThisYear
    Participant

    Hi all,

    Still in the beginning of the process and saving for my MRF which I expect to have in March.

    I’m excited but I want to know more about this $25000 lien. I’ve read in the forum that it’s easy to get released from the lien and as of right now, I expect to be in the home for at least 5 years if not more. However, I’m young and since life happens I’d like to throw out some hypotheticals.

    If I decide before the 5 years to relocate to a new state for a new job , is that reason enough to get released from the lien?

    While I love my current situation, things change unexpectedly and I don’t like the idea of being “stuck” if I become unhappy later on. So I’m just seeking more clarification on how this lien may or may not hold me back

    Thanks in advance!

    #65026
    Nelsont
    Member

    Yes. The process is simple. The issue is finding a bank/title company that wants to go through the process. I wouldn’t worry about it. Naca will make it happen if as you say you get relocated for a new job. The rule is to help prevent flipping for profit. They won’t penalize you for life changes.

    #65027
    HopefulThisYear
    Participant

    Well that’s good to know. When you say finding a bank or title company to go through the process, is that to say it’s lengthy or time consuming?

    #65028
    Nelsont
    Member

    I am not exactly sure. I think it’s simple. I think because there’s a lien people get scared away.

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