mortgage lien
Secured debt hold
A mortgage lien is a legal claim a lender holds against a property until the mortgage is paid off.
The lien gives the lender the right to seize and sell the property if the borrower defaults on the loan.
Most home purchases involve a mortgage lien, which appears on the property's title and must be satisfied before the home can be sold free and clear.
- real estateLand and its structures
- home ownershipHolding title to residence
- encumbranceHindrance or legal claim
- collateralSecurity for debt
- repossessionCreditor seizing collateral
title deed · deficiency judgment · deed of trust · foreclosure · property appraisal · land registry · escrow account · easement · balloon payment · home equity loan · refinancing · closing costs · property tax assessment · title insurance · short sale · loan modification · bankruptcy filing · debt restructuring
mortgage lienunsecured debt
Borrowing without collateral
unsecured loan · personal loan · credit card debt · signature loan · promissory note
mortgage, lien, mortgages, mortgaged, mortgaging, mortgagee, mortgagor, liens, lienholder