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About Megan B. Hord
Expertise
I specialize in residential property in both SC & NC. Aside from being a licensed Realtor in both states, I am also a licensed interior designer and a certified paralegal - so I am very familiar with both builder and legal languages. My main areas of expertise are the Lake Wylie area, Charlotte (NC), Rock Hill (SC), Fort Mill (SC), and Lake Norman (NC). I have a great deal of experience in assisting relocation clients and can answer any questions regarding relocation to make the transition a smooth one. Also, I can do a market analysis for current residents to determine their home's worth in today's marketplace. I have the knowledge and expertise to answer both general/broad and specific real estate questions and am happy to help in any way I can.
Experience
Licensed NC/SC Realtor, licensed interior designer, certified paralegal. SC resident (York County specific) for 26 years.
Education/Credentials
BA in Fine Arts (Concentration: Interior Design) from Winthrop University; Paralegal Certification from the Center for Legal Studies; SC/NC Real Estate Licensee
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You are here: Experts > Cities/Towns > South Carolina > Real Estate: South Carolina > Liens
Expert: Megan B. Hord
Date: 2/5/2008
Subject: Liens
Question
My friend purchased a home with his girlfriend. They are now split up and she has maintained residence as she has older children and he didn't want to "put them out". She is now not making her portion of the payments and is not willing to leave the premises. He wants to take out a lien on the property for his protection. Is this possible? The property is in Charlotte NC
Answer
Hi Sandy -
I am sorry to hear your friend is in a tough situation. When a property is jointly owned, it can often become difficult when a split occurs. I am not an attorney, but my best advice would be to contact one.
Unfortunately, no matter who owns the property, the rule applies - "you don't pay, you don't stay". Unless your friend wants to continue paying a full payment each month (his portion and hers) to make the mortgage company happy for the next 30 years or so, then it's time to explore other options. Because the last thing he needs is for his credit to be ruined or to lose the home to foreclosure when the payments become too much to handle. He is essentially a co-borrower, and when she can't hold up her end of the deal, the bank will look to him to fulfill the obligation - and if he cannot, they will pursue legal action.
Liens are tricky, and I'm not sure they would leave him protected or even be an option. At this point, his best bet is to get a market analysis on the property to find out what it is worth and contact an attorney. Unless he is willing to buy out her portion or she is willing to buy out his (which would involve a refinance into only ONE name and the other person forfeits all rights to the property totally), then this would be the best route to go.
If you will email me his address, I will run a market analysis on the property and tell him exactly what he can sell it for. Or he is welcome to call me. My contact information is below. Both owners have to agree to sell - and he is in a predicament because she is not willing to pay yet she is not willing to leave. So he definitely needs to get advised of his legal rights. Otherwise, he is on the hook with the bank and it could get even uglier. Often, when an attorney gets involved, situations can be mediated and she will likely decide to leave peacefully so he can either move back in or sell the house.
Please let me know how I can further help -
Megan
Megan Hord
Allen Tate Company
803-322-0158
megan.hord@allentate.com
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