A Release of Mechanic’s Lien is to help provide an inexpensive method for material suppliers/contractors to secure the value that has been added to the property owed to them. The release of Mechanic’s Lien Surety Bond is when there is a lien against real estate which the plaintiff seeks to take by force of law. The Release of Mechanic’s Lien Surety Bond than discharges the mechanic’s lien in order to allow the owner of the property the right to sell or deal with the property while the ensuring that the claimant of the lien any payment that is still owed to them.
The bond amount is generally issued at a percentage over the lien amount and is up to the court.
This type of bond is solely based off of personal credit. Our markets require that your FICO to be 650 or above. Surety1 only runs a soft inquiry on your credit, meaning that the pull will not affect your credit score.
Please note that a discharge of mechanic’s lien surety bond requires that an attorney is involved with the case.
In order to find out if you qualify for a mechanic’s lien surety bond all we need is a completed easy online application. We are licensed surety experts for all 50 US states. We can get you set up with a court bond no matter what state, county, or city you live in.