When I was a building contractor I leined jobs I was not paid on within the statutory limit: 90 days of the last furnishing of labor to the contract.
I never had to foreclose --they always paid me with one exception; one builder went bankrupt and I had to write off 42K in contract damages and a small <5K actual loss.
When a developer or general contractor goes bankrupt your lein right is not so clear, the lein needs to be perfected, the Bankruptcy Court's Automatic Stay would apply and you would have a lot of legal costs with no guarantee of ever collecting as a secured (by real property) creditor.
Bankruptcy proceedings are a nice way to fuck over your contractors, employee unions, pension fund obligations, bondholders and wipe out the common stock holders' equity. In other words -- fuck everyone over ...
Donald J. Trump has a lot of experience with this
