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In the USA, can you lose your home even after it is 100% paid off? (lemmy.ml)

submitted 8 months ago by [email protected] to c/[email protected]

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Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?

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[–] dream_weasel 3 points 8 months ago (2 children)

Lien** and for the person you replied to

[–] [email protected] 6 points 8 months ago (1 children)

Also "foreclosure," not "disclosure."

[–] [email protected] 1 points 8 months ago (2 children)

Can you be foreclosed on when you own out right? Seems like mortgage terminology.

[–] [email protected] 2 points 8 months ago

The mortgage is a type of lien. But there are other kinds of liens, such as when a contractor works on your house, and you didn't pay them, they can place a lien on the property until you pay. In the worst case, a contractor could forclose and force the sale to cover the debt.

[–] [email protected] 1 points 8 months ago* (last edited 8 months ago)

The sentence in question was:

a lein doesn’t usually lead to disclosure

I don't know if "foreclosure" is the right word to describe a forced sale due to a lien, but I do know the person didn't mean to write "disclosure" instead.