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Is a loan considered a lien?

Yes, a loan can be considered a lien if the lender has a legal claim on the borrower's property as collateral for the loan.


What is a mortgage lien?

Mortgage Lien - Is a legal claim against a mortgaged property that must be paid or assumed when the property is sold. The person who has the lien on the property can claim the property if the loan defaults. The mortage lien typically belongs to the lender in order to secure the mortgage loan.


What is the difference between a lien and a mortgage?

A lien is a legal claim on a property to secure a debt, while a mortgage is a type of loan used to purchase a property, with the property itself serving as collateral for the loan.


Can creditors put a lien on a deceased property if there is no will?

The existence of a will has no bearing on whether or not they can place a lien. If they have a legitimate debt and a judgment, or an agreement in the loan regarding a lien, they can place the lien on the property or the estate.


Which of these is a lien on the property that secures the promise to repay a loan?

mortgage


What is a lien on a property that secures the promise to repay the loan?

Mortgage


What 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


How do you find out if a property has a loan on it?

The deed is filed in the county courthouse. There will be a lien filed against it if there is a loan.


Can you transfer the lien from your home equity loan to another property you own?

No, you cannot "Transfer" the loan. But you can take out a loan on the other property and use it to pay off the first.


How can I borrow against inherited property?

To borrow against inherited property, you can apply for a loan using the property as collateral. The lender will assess the value of the property and your ability to repay the loan. If approved, you can receive funds based on the property's value. It's important to carefully consider the terms of the loan and the potential risks involved.


Can you get a home equity loan on your rental property?

If you are renting the property from someone else and do not own it, no, because a home equity loan is like a mortgage. The lender has a lien on the property if you default on the loan. If you are the owner of a property and rent it out, yes you should be able to get a loan with the property as security.

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