September 9, 2010
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Comment posted on Will the 2009 Economy Create More Mechanic Lien Filings? by Mymnnimbusy
Hello. Your site displays incorrectly in Explorer, but content excellent! Thanks for your wise words =)
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I think that more lien filings are inevitable. Followed by more foreclosures unfortunately. The issue in VA will be that the owners may pay what they owe, preventing a foreclosure that may be the only way to turn a judgment into money.
Hey Chris. That’s a good point about VA law and the so-called “payment chain.” We have a post on the VA Payment Chain, and the rule that owners must only pay for a project once, scheduled in the next few days.
But you’re right about the problems facing contractors who file liens late, or in Virginia even those who file it on-time, but just after the owner has depleted all of its funds.
I look forward to seeing the post. Let me know if I can help out with that. Thanks for keeping the importance of liens on the front burner.
Another article from another business journal (Boston, MA) about increase lien filings.
http://boston.bizjournals.com/boston/othercities/louisville/stories/2008/12/29/story1.html?b=1230526800^1752948
Hello. Your site displays incorrectly in Explorer, but content excellent! Thanks for your wise words =)
Thanks for the tip. I’ll check that out and see what we can do.
any changes coming ?