Lien
A legal claim on a home when the owner owes money. When you buy a home, the lender will place a lien on the property showing that they own the property until you pay off the mortgage. That lien is a 1st mortgage lien.
« Back to Glossary IndexA legal claim on a home when the owner owes money. When you buy a home, the lender will place a lien on the property showing that they own the property until you pay off the mortgage. That lien is a 1st mortgage lien.
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