Home Equity Loan
How do you get landscaping on credit?
In the recent movie "Fun With Dick and Jane" starring Jim Carrey, one of the bad-luck things that happens to Dick and Jane as a result of Dick losing his job is that the landscaping is reposessed. Which led me to think the other day, how do you get landscaping on credit? Assuming that they did not put it on their credit card, or get a home equity loan (because a credit card company or a bank, I would think, would not reposess landscaping; rather, they would force payment on the card or note through bankruptcy or foreclosure on the collateral), my thought is that they must have had credit with a landscaping company and were paying a monthly payment, which, when they couldn't afford the payments anymore, was reposessed. So, is this really possible, or do you think this was just done for comedy's sake for the movie? Anybody ever heard about having landscaping done on credit through a landscaping company? If this option is for real, my yard could really use it.... ;) Thanks! Yeah, I thought it seemed like a stretch. The reposessed the in-ground flowers, shrubs, plants, newly-planted tree saplings, and grass. Any thoughts anyone? Yeah, I thought it seemed like a stretch. The reposessed the in-ground flowers, shrubs, plants, newly-planted tree saplings, and grass. Granted, it was hilarious, but I'm guessing, not based in reality. Any thoughts anyone?
Public Comments
- Its a stretch, especially if you mean the lawn. But if there were identifyable and easily removable items (fire pits, tables and chairs, hot tubs, they might put a chattel mortgage on them and they could foreclose on that.
- Fact of the matter is that it would be illegal for a landscaper to do what was done in the movie. The landscaper could file a lein against the property, in which case they would be paid if and when the property was sold. They could also sue the homeowners, obtain a judgement, and force the sale of the house or attach a bank account or other titled property to satisfy the judgement. The landscaping business works just like the remodeling or home improvement business. Many times a contractor (landscaper) will perform a job based on a written contract. The contract may, or may not, specify a down payment with the balance due upon completion. Once material is delivered to the jobsite, whether installed or not, it becomes the property of the homeowner. Any attempt to remove the material by the contractor constitutes theft. These kinds of situations are argued in court every day. The movie took a lot of liberties with the real world. I hope this explanation helps.
