Floridas New Breed of Bottom Feeder
Date: Tue, 09/04/2007 - 07:42
There is a law in Florida, and probably other states as well, in regards to subcontractors and liens. If your General Contractor does not pay a Sub for his work the Sub can put a lien on you home even if you paid your GC in full.
There is a company here called Goldmine Financial Services that is paying 50 cents on the dollar for these liens. They advertise that fast nickels are better than slow dimes. The subs are buried with these liens and want there money right now so they sell. If Goldmine has purchased a lien and your sub is satified they should not be able to collect on this in my opinion because technically all your obligations were legally satisfied and the lien should be released. I would like to hear some feedback from the members and guests regariding this.
Thanks
There is a company here called Goldmine Financial Services that is paying 50 cents on the dollar for these liens. They advertise that fast nickels are better than slow dimes. The subs are buried with these liens and want there money right now so they sell. If Goldmine has purchased a lien and your sub is satified they should not be able to collect on this in my opinion because technically all your obligations were legally satisfied and the lien should be released. I would like to hear some feedback from the members and guests regariding this.
Thanks
I think that is crazy. People try to make a buck on anything! I
I think that is crazy. People try to make a buck on anything! I can't believe that the homeowners are being held responsible for the GC. Did I read that right?
True, that's the law in most states. There seems to be no short
True, that's the law in most states. There seems to be no shortage of ideas for ripping people off.
Not that this would provide a rapid fix, but wouldn't you then h
Not that this would provide a rapid fix, but wouldn't you then have a cause of action against the GC?
I had no idea this went on! Thanks for the post. :-) Morningsta
I had no idea this went on! Thanks for the post. :-)
Morningstar, it seems like this would get the gc into some legal trouble.
There would be a case of action against the GC. If he hasn't fil
There would be a case of action against the GC. If he hasn't filed chapter 11 and resufaced under a different name with a new partner to hide behind.