What is a Mortgage Lien & What Does It Mean?

Do you have questions about mortgage liens? This article could help answer your questions.

According to one source, the definition of a mortgage lien is “a legal claim against a mortgaged property, which must be paid when the is sold.”

So to put it more clearly, if you have a mortgage on a property, then the amount you owe to the bank, also known as the mortgage balance, is the lien portion. When you decide to sell your property, the amount left on the mortgage lien needs to be paid to the bank before any profit can be distributed to you.

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What is a Mortgage Lien & What Does It Mean? - Lahaina Real Estate, Maui Condos, Homes & Houses for Sale from Maui MLS