Morristown NJ Real Estate Mortgage Lien
Posted by Susan Zanzonico on Friday, September 26th, 2008 at 5:44pm.What is a Mortgage Lien?
In general a mortgage lien is a voluntary lien on real estate given to a lender by a borrower as security for a mortgage loan. It becomes a lien on real property when the mortgage funds are disbursed and the lender files or records the mortgage with the clerk or registrar of the county where the property is located. A preferred lien is generally required by mortgage lenders....referred to as a first mortgage lien. Meaning, that other than taxes, no other major liens against the property take priority over the mortgage lien. This stipulation does not apply to second mortgages or home equity loans. Susan Zanzonico - Morristown NJ Real Estate - 973-214-5872. I also specialize in Madison NJ Real Estate and Short Hills NJ Real Estate
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Susan Zanzonico
I'm an experienced RE/MAX agent and will focus on your specific needs and provide quality service. Call me for your real estate needs ~ 973-214-5872.
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