Legal
Lien
A legal claim against a property as security for a debt
Full Definition
Lien: A legal claim against a property as security for a debt. Understanding this concept is important when navigating the mortgage process. NMHL loan officers can explain how lien applies to your specific mortgage situation.
Why It Matters
Understanding lien helps you make informed decisions about your mortgage. This knowledge can save you money and help you avoid common pitfalls in the homebuying process.
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Frequently Asked Questions
Lien refers to a legal claim against a property as security for a debt. This is an important concept in mortgage lending that affects how your loan works.
Understanding lien can help you make better decisions about your mortgage. Contact NMHL for personalized guidance on how this applies to your situation.
Ready to Put This Knowledge to Work?
Connect with an NMHL mortgage expert who can help you navigate the mortgage process.