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 ?
In 1933, the Florida Supreme Court set forth the general principles for the application of equitable subrogation in Florida, as specifically applied to mortgage liens and refinancing lenders:
All proceeds from the sale, if consummated, after provision for taxes on gains and repayment of less than $1,000,000 in mortgage liens will be initially applied toward the Company's outstanding bank debt.
First mortgage liens on land equal to a minimum of 200% of the outstanding debt (under certain limited circumstances, liens equal to a much greater amount are required);
The Equity Inns portfolio is secured by nine, cross-collateralized and cross-defaulted first mortgage liens on nine limited service hotels, originally totaling 1,181 rooms and located in various states.
The Equity Inns portfolio is secured by nine cross-collateralized and cross-defaulted first mortgage liens on nine limited-service hotels, totaling 1,181 rooms and located in various states.
The MLR is a credit-based lien position product that gives lenders a view of the borrower's secured mortgage liens and public record information such as reported judgments and filed tax liens.
The Wisconsin Trade Center Office Properties loan is secured by two cross-collateralized and cross-defaulted first mortgage liens on the fee simple interest in three office properties located in Madison, WI.
These notes are secured by second mortgage liens on eleven skilled nursing facilities located in Florida.
The certificates are secured by first priority perfected mortgage liens on 15 office buildings, data centers and operation centers including two parking garages.
The credit lease transactions also benefit from first mortgage liens on commercial properties.
Originally rated in October 2000, the certificates are secured by cross-collateralized first mortgage liens on 75 industrial properties containing 14.