Chosen by Asker

Unless you are a licensed lender you aren't getting second position. You have to get a court order for a lien, and it will be a personal debt, not a mortgage.

by Landlord

4 months ago

Asker's Rating: 

If you have a formal loan contract which allows you to put a lien on the property, then you can put a lien on the property. You will be at the back of the line, behind any existing lien holders which means if there's more debt than the property is worth, you may not get paid. But, at least it gives you some say in preventing the sale of the house and gives you security if the value goes up. If you're talking about getting paid from his estate when he dies, you would be best to have a lien on the house. Secured debt is paid first by selling the assets that secure the debt. Unsecured debt is paid based on what a judge feels is fair if there isn't enough to go around. Being the son of the deceased may send you to the back of the line if the judge suspects that your loan documents are forged or not legally valid and he thinks you're trying to cut in line. You never know how the judge would rule it but there's a good chance it won't go in your favor.

by SmartA$$- 4 months ago