Which is true for recovery under mechanic lien

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Reference no: EM131801830

1. What is not a requirement if a contractor decides to foreclose on a lien?

a) A timely foreclosure sale within state deadlines

b) Filing of a foreclosure action within a designated period of time after filing the lien

c) Consent of the homeowner to the original lien

d) Advertisement of the foreclosure sale

e) Notice of foreclosure to the homeowner

2. Which is true for recovery under a mechanic's lien?

a) Any excess funds from a sale to pay the lien go to the debitor.

b) Federal law governs enforcement of mechanic's liens

c) Even if a contractor performs deficient work, a mechanic's lien may be enforced

d) There is no requirement that a contractor gives a debtor notice of a forecloser

e) Filing a lien automatically ensures that a contractor give a debtor notice of a foreclosure

Reference no: EM131801830

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