What does a lien mean exactly?
When a lien is placed on your property, that means if you sell it, any proceeds from the sale would go to the lien holder first. But more than likely you would not be able to sell or refinance the property until the debt was paid and the lien was removed.
It's also possible in some situations that when their is a lien on your property, once a certain amount of time has passed and if the debt is high enough, the lien holder may be able to foreclose on your property and basically take it from you. Then they can sell it and use the proceeds towards the debt. When it comes to real estate property, foreclosure by a 3rd party does not release you from your liability to the mortgage holder either.
In other words, your life will get extremely complicated.
