What happens when I put my house up as collateral?

When you bail someone out and the bail amount is high, the bail bonds company may take a house as collateral.  By taking a house as collateral, the bail bonds company will put a lien on the house for the full amount of the bail.  So for example the bail is $200,000; the bail bond’s company will put a lien for the amount of $200,000.  Aside from the house as collateral, there will also be a fee to get the person out of jail.  The house is just to guarantee the person appears at all of his or her court dates until the case is done.  In the event that the person out on bail decides to run and hide and not go to court, then the people who signed for the defendant are responsible for getting the defendant back to court.  In California, when a defendant does not appear in court as promised then the court with forfeit the bond and the people who signed for the defendant must get the defendant back to court within 6 months or come up with the full amount of the bail to pay the court. So if the person’s bail was $200,000; then the court will demand the full amount of $200,000 to be paid.  If the indemnitors who signed can not come up with full bail amount, the bail bonds company can foreclose on property they took as collateral to get the money to pay the court.

If you have someone in jail and their bail is high, always remember you are liable for them to go to court until the case is done and the bond is exonerated.  If you have any questions please call Golden Eagle Bail Bonds at 877-525-1711.  Our agents are available 24/7 and are always ready to help.  Collateral is not always needed.