Tuesday, January 15, 2013

Mortgage as lien

On Dec 6, 10:51 am, "David L. Martel" <marte...@earthlink.net> wrote:

>  I also doubt that the mortgage company has a lien on the title.

Um, David, by definition a mortgage _is_ a lien.   That's what makes it a mortgage, and differentiates it from an ordinary, unsecured personal loan to the homeowner.  The lender has recorded the mortgage documents (in some states, in the form of a Deed of Trust) with the land records office, of that you can be sure.  It gives the lender a secured interest in the real estate as collateral for the loan, and can be foreclosed upon in case of default.

 --
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Mike Jacobs
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