How to protect myself/assests from lienholders?

How to protect myself/assests from lienholders?

About 2 years ago my wife and I used our primary residence as collateral to purchase and renovate a building for business purposes. Since then we are divorcing I will get the primary house (her name will be removed from the deed) and she the business property. The lien on the house still remains as we are not in a position to refinance. My question is can the lien holder (bank) force me to sell in the event she defaults in her business? How can I protect my house? The lien is 249k way too much for me to absorb. Currently, the value of the business property is more than the lien in question.

Asked on March 10, 2012 under Bankruptcy Law, Vermont

Answers:

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