2007-05-29 06:13:58 · 12 answers · asked by Little Miss Strange 2 in Business & Finance ➔ Renting & Real Estate
its spelled Lien and it is a legal claim or attachment against property as security for payment of an obligation
2007-05-29 06:18:35 · answer #1 · answered by CupCake 5 · 0⤊ 0⤋
The term is "lien", pronounced the same way. It means that your lender/bank has registered your house as collateral for the loan which you took (assuming this is a loan situation). In the event of default on your part, the registered lien gives the bank a position in line of authority to foreclose your property.
2007-05-29 06:18:15 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
Lien (n) - A claim or right given to a creditor to secure payment of a debt, usually by sale of the debtor's property.
If a bank puts a lien on your house, it is because you did not hold up your end of the mortgage agreement, and they have the right to take what you owe them out of the sale of your house.
Home owners associations can sometimes do this too.
2007-05-29 06:54:26 · answer #3 · answered by LadyJag 5 · 0⤊ 0⤋
What Does Lean In Mean
2016-10-01 03:05:40 · answer #4 · answered by delsignore 4 · 0⤊ 0⤋
the word is lien, it is a term relating the lender to & identifying them as the owner of said property, if in fact the borrower should renege on the loan agreement, it also gives them precedence if and when an accident or theft renders the property useless, meaning the insurance money goes to the lender first to satisfy the loan, and any amount remaining would then be forwarded to the borrower.
2007-05-29 06:25:03 · answer #5 · answered by Railrider 2 · 0⤊ 0⤋
The word is spelled "lien" and it is a legal way to prevent you from selling your house without paying a debt you have over and above your mortgage.
2007-05-29 06:22:25 · answer #6 · answered by Anonymous · 0⤊ 0⤋
A Lien is when you owe somebody money, the person you owe money to gets paid out of the profits when you sell your house.
2007-05-29 06:23:51 · answer #7 · answered by NeighborLady 4 · 0⤊ 0⤋
Its spelled "lien" and it means property is being held for a debt that is owed.
2007-05-29 06:18:14 · answer #8 · answered by cashmaker81 6 · 0⤊ 0⤋
"lien" means their using ur house as collatoral until the debt is repaid. u cannot attempt to sell ur house if there is aany liens on it. repay the debt and they will remove the lien.
2007-05-29 06:21:22 · answer #9 · answered by spadezgurl22 6 · 0⤊ 0⤋
Oxygen sensor is bad or you have the wrong one in there because many cars will need the original one and not an aftermarket one..
2016-05-20 23:23:54 · answer #10 · answered by ? 3 · 0⤊ 0⤋