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Mortgage Lien |
Also found in: Encyclopedia | 0.02 sec. |
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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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