What Exactly Is a Lien?
Lending money is dangerous, hence why lenders frequently safeguard their investments using liens, which are legal documents that enable lenders to reclaim a piece of property if the borrower fails to repay the loan. If the lender secured the loan with a lien, you are unable to make your monthly payments, and the lender has attempted to pay a debt, they can normally sell the assets you put up as collateral to offset their loss.… Read more