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 ?
Having identified the set of FHA first-time homebuyers, we need data that allow us to track these households over time and observe any subsequent mortgage liens and the locations of the properties that secure them.
The homeowner will, therefore, seek a court order early in the chapter 13 case stripping off unsecured junior mortgage liens. The debtor will normally want an order not only classifying the junior mortgage as unsecured for plan purposes, but also voiding the lien.
What is the priority for property tax liens; in particular do they have priority over mortgage liens? Is it possible for me to pay my property taxes together with my monthly mortgage payments and the landlord takes care of paying my property taxes, when they are due, to the tax authorities on my behalf?
SOURCE: CoreLogic used its public-record data as the source of the mortgage debt outstanding (MDO), and data include first mortgage liens and junior-mortgage liens in order to capture the true level of mortgage debt outstanding for each property.
The doctrine of equitable subrogation, particularly as applied to priority of mortgage liens, has long been a tool used by real property litigators seeking to rectify or mitigate priority issues caused by defectively executed or recorded mortgages.
Ultimately, the supreme court held that the tax deed to the municipality destroyed the two mortgage liens and that the owner now held the property free and clear of them.
Depending on the state, mechanic's liens may receive significant favor and subordinate other liens, including judgment creditors, mortgage liens and deeds of trust.
Sachem Capital originates, underwrites, funds, services and manages a portfolio of mortgage loans secured by first mortgage liens on real property.
BancFirst convinced the District Court of Canadian County to give the bank's mortgage liens priority over claims by Jostens Inc., Lightning Source LLC, Xerox Corp., Stanley Perl, Tom Blundell, Darla Mae Dudley, Magnolia Trace Property Owners Association Inc.
The statute specifically provides that construction mortgage liens also trump all mechanics' liens which were perfected after the filing of the construction mortgage liens.
The transaction is an issuance of securities backed by a mortgage loan secured by the borrowers' mortgage liens in tower sites representing approximately 96.4% of the aggregate allocated loan amount and guaranteed by the direct parents of the borrowers.
SOURCE: CoreLogic used its public record data as the source of the mortgage debt outstanding (MDO), and data include first mortgage liens and junior-mortgage liens in order to capture the true level of mortgage debt outstanding lor each property.

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