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Mortgage Professor about first lien: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Mortgage Versus Home Equity Loan
June 9, 2003, revised August 30, 2003 "What are the differences between a second mortgage and a home equity loan?" The terminology is confusing. A second mortgage is any loan that involves a second lien on the property. Some second mortgages are for a fixed dollar ... more... A Look at Housing Bubbles 20 December 2004 What Is a Housing Bubble? Recent bursts in property appreciation suggest to some observers that we are in a housing bubble. A bubble is a marked price increase fueled partly by expectations that prices will continue to rise. Once that expectation comes into ... more... |
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first lien related definitions |
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First Mortgage
First Mortgage A mortgage that has priority as a lien over all other mortgages. In the case of a foreclosure the first mortgage will be satisfied before other mortgages. ... more... Lien Lien A claim upon a piece of property for the payment or satisfaction of a debt or obligation. A mortgage is a lien against a house. A lien affects the ability to transfer ownership. ... more... |
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