Many loans are secured against your home
A lot of consumers are unaware of the liens registered against their homes.
O.K. fair enough you were fully aware of the mortgages registered but did you know that the gas company registers liens for overpriced furnace, air conditioner and water heater instalations?
Utility companies are not alone though, sometimes they fall in line behind the banks that have secured their credit card, line of credit and overdraft protection lending on your property.
Then of course there is Legal Aid they will register a lien to fund a lawyer to help you with a nasty divorce.
If you have fallen behind with your bills you may have judgements from the courts registered on the title of your property.
Then of course there are construction liens from the finance companies that helped you with various home improvement projects.
The mother of them all is still IRDs (Interest Rate Differentials) charged by banks.
Should you decide to sell your home you need to beware of realtors that charge ridiculously high percentages of the sale proceeds for their services, which may rank some of them as the highest hourly rate employees in the country.
Scary to think how little you may have left following a sale.