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What is a lien on the property that secures the promise to repay a loan?
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∙ 6y ago
Mortgage
Wiki User
∙ 6y ago
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What is a lien on the property that secures a promise to repay the loan?
Mortgage
What is a lien on a property that secures the promise to repay the loan?
Mortgage
What is the purpose of a lien when you get a secured loan?
To let lenders take back property they financed if you don't repay your loan
Is a 30 year fixed loan home collateral?
Not sure what the question is. If you take out a mortgage loan on a home. the Promissory Note is used to show the debt (the promise to repay) and a mortgage lien is placed on the home to show that the home is collateral for the Note if the promise to repay isn't kept. Does that answer the question?
What is a short sale in real estate?
A short sale is a sale in real estate, in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens' full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.
Which of these is a lien on the property that secures the promise to repay a loan?
mortgage
What is a lien on the property that secures a promise to repay the loan?
Mortgage
What is a lien on a property that secures the promise to repay the loan?
Mortgage
What is a sheriffs lien?
A sheriffs lien occurs when a person gets in debt and their property or assets are seized. They are then sold by the sheriffs department to repay the debt.
What is the purpose of a lien when you get a secured loan?
To let lenders take back property they financed if you don't repay your loan
Is a 30 year fixed loan home collateral?
Not sure what the question is. If you take out a mortgage loan on a home. the Promissory Note is used to show the debt (the promise to repay) and a mortgage lien is placed on the home to show that the home is collateral for the Note if the promise to repay isn't kept. Does that answer the question?
Is it legal for a lien to be placed on a joint loan if both parties are not on the property for the lien?
Liens are not placed on loans. Liens are placed on the property that secures the loan. If a co-signer who does not own the property secured by the loan is sued for default, the lender could obtain a judgment lien and then use it to take any property owned by that party to satisfy the debt.Liens are not placed on loans. Liens are placed on the property that secures the loan. If a co-signer who does not own the property secured by the loan is sued for default, the lender could obtain a judgment lien and then use it to take any property owned by that party to satisfy the debt.Liens are not placed on loans. Liens are placed on the property that secures the loan. If a co-signer who does not own the property secured by the loan is sued for default, the lender could obtain a judgment lien and then use it to take any property owned by that party to satisfy the debt.Liens are not placed on loans. Liens are placed on the property that secures the loan. If a co-signer who does not own the property secured by the loan is sued for default, the lender could obtain a judgment lien and then use it to take any property owned by that party to satisfy the debt.
If I dont pay my property taxes what will happen to me?
The government will file a lien against your property. You usually have a set time period to repay the back taxes after that happens. If you don't, then the government can foreclose on your house.
Is there a statute of limitations for a house lien in Texas?
No there is not statute of limitations. The lien serves as notification that a debt is owed and secures that debt.
Is a lien on a property considered real or personal property?
A lien is considered personal property.A lien is considered personal property.A lien is considered personal property.A lien is considered personal property.
What does this property in a LIEN SOLD status mean?
There is a lien or was a lien on the property and the lien was sold to a 3rd party such as an attorney
If you paid the delinquent property taxes on another person's property can you file a lien against it to recover your expenditure when the property is sold?
YES BUT YOU SHOULD DO IT RIGHT AFTER YOU PAY THE TAXES. * No. The party who paid the delinquent taxes has no legal rights to the property. You cannot automatically place a lien against property other than that of a Mechanic's Lien. The paying of the taxes would be considered a loan, the only option for recovery of the monies if the property owner did not voluntarily repay the amount would be to sue the party in the appropriate state court.
