Mortgage Glossary
Mortgage Lien
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A mortgage lien is the legal claim a lender places on a property as security for the mortgage loan.
What Mortgage Lien means
It gives the lender the right to foreclose if the borrower defaults and is released when the loan is paid off. The first mortgage lien holds priority over later liens.
Florida example
A Florida lender records a mortgage lien at closing. When the borrower pays off the loan years later, the lender files a satisfaction of mortgage releasing the lien from the property.
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