Mechanics lien I need some legal advice please

[Jason Pavloff]

I was told that instead of doing a HELOC that there is another way to pull money out of my property. A mechanics lien...

I've searched all over the internet the last 2 hours, and nothing really talks about what my loan officer is trying to do with in the laws limitation of a mechanics lien. If any Texas real estate lawyers are lurking, please let me know if this is possible? I was told a mechanics lien can do a 90 LVT. A loop hole for Texas basically. 

[Patrick Connell]

A mechanics lien is worthless until you sell/refinance the property.

It sounds like what the LO is trying to do is generate a ML for 90% LTV on a free and clear property and then when the refinance kicks in, they'd have to pay that off and you'd be stuck with a 90% LTV loan and have 90% paid out.

This is straight up mortgage fraud and not legal in any way, shape, or form.

If it sounds to good to be true, it usually is. My opinion, this is BS and I would stay away.