Mortgage Lien


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Mortgage Lien

The right of a lender to take possession of a designated piece of real estate if a borrower does not repay a mortgage. For example, if Joe buys a house with a mortgage loan and then defaults, the lender may take possession of the house. The lender releases the lien when the mortgage is fully repaid.
References in periodicals archive ?
773 (1992) (the Court held that the Chapter 7 debtor was not allowed to reduce a $120,000 mortgage lien to the judicially determined property value of $39,000; the debtor would enjoy a windfall if the property value increased by the time of foreclosure sale).
The largest of the loans is secured by a first mortgage lien on the borrower's fee and leasehold interests in 667,561 square feet of the Tucson Mall located in Tucson, Arizona.
8220;Without the SBA 504 Refinance Program and the First Mortgage Lien Pooling (FMLP) Program, this loan would not have been possible.
The confirmed plan provided that the debtor would strip off Bank of America's second mortgage lien because the lien was wholly unsecured.
The majority of our loans are to payoff an existing mortgage lien so every penny counts when calculating those proceeds available.
Collateral for the funding is a second mortgage lien on the subject property situated on 2,274 acres in the Southern Allegheny Mountains in South Central Pennsylvania.
5 million and is secured by a first mortgage lien on the borrower's fee and leasehold interests in 667,561 square feet (sf) of the Tucson Mall, a 1.
Hurn said he plans to tell the committee it should work to extend the temporary SBA 504 Refi program as well as the temporary secondary market program for 504 first liens, the First Mortgage Lien Pooling (FMLP) program.
With strong initial response from customers, Mesa is able to challenge and remove liens or other encumbrances against an individual which in many cases includes the removal of a second mortgage lien.
Additional collateral for the loan includes a first mortgage lien on a 1.
Part of the Small Business Jobs and Credit Act, the First Mortgage Lien Pool (FMLP) program license will enable Mercantile, through licensee Old Florida, to increase its already significant participation in the SBA 504 program and assist small businesses in need of financing for real estate and equipment.
Secured by a first mortgage lien on the property, the bridge financing will be used to acquire the site and fund pre-development costs as well as a nine-month interest reserve.

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