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What is a special vendor's lien in Dallas County. It is from the Mortgage Company

I purchased a home from a Mortgage Company and a year later(last week)    I found a vendor's lien on the home.   It carries the script of the dollar amt in numbers which is  less than the amount written out.   One would think I owe them money.  I used a title company chosen by this company.    Can some one tell me what is going on and what is the very first thing I need to do AND the very last thing I need to  make sure I do about this matter.  Im getting in position for a battle so I need some details because I cannot afford an attorney. 
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September 20 2011 - Southwest Dallas
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Best Answer

When you borrow money to finance property in Texas, the lender ALWAYS has a vendor's lien on the property.  It will remain on the property until the debt is fully paid, whether that be by refinance or cash pay off.  You have nothing to worry about unless you paid cash for the property in the first place - all properties in Texas have a vendors lien on them.  The lien allows the lender to foreclose in case you don't pay.

If you purchased a foreclosure, you will have received a Special Warranty Deed as opposed to a General Warranty Deed.  The special warranty deed is not nearly protective of the buyer as is the general warranty deed. The grantor of a special warranty deed conveys the property with two warranties:

The grantor warrants that they have received title.  The grantor warrants, unless noted specifically in the deed, that the property was not encumbered during their period of ownership.

The grantor of the special warranty deed, in effect, only warrants the title against their own actions or omissions. They warrant nothing prior to their taking title. If specifically stated in the deed, other warranties can be conveyed. Special warranty deeds are frequently used by executors,  trustees and seller/lenders.

If there is a lien on the property that happened before you purchased it, and it was never filed, therefore has just now come to surface, your title insurance should cover any damages.  You need to call your title company-they will be able to tell you if you have a claim.  I bet you don't however - I am pretty certain that what you have found is related to your own mortgage.  Thanks!

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September 20 2011
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Kim,    The dollar amt on the document is incorrect so I will have the Mortgage Co correct it.   I suppose it was a TYPO but I certainly dont want to pay the difference of 8000.00 or take the trouble to prove my purchase many years later. 
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September 23 2011
Happy to help - it feels good to put your mind at ease!  Enjoy your day!
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September 21 2011
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  Thank you so much for your answer.  It was  filed just after I bought the home. 
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September 21 2011
 
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