Because the entire point is to make them figure out how to foreclose on the collateral. When they don't do it, you get the money back. If the do, then they'll only recover what the lien was for, not the excess. Courts will make you deposit more than the amount to collateralize. Perhaps to cover court costs in the event you lose the proceeding.
Why pay more than what the lien is?
Because the entire point is to make them figure out how to foreclose on the collateral. When they don't do it, you get the money back. If the do, then they'll only recover what the lien was for, not the excess. Courts will make you deposit more than the amount to collateralize. Perhaps to cover court costs in the event you lose the proceeding.
I don't know anything about this stuff.
If you are ok with sharing your state, I can check for the statute on the process and link it. No biggie if not.
I unfortunately live in NY, but I don't plan on being here much longer.