Because the tax lien takes priority over the mortgage lien
, a situation could occur where the value of the asset is diminished significantly due to the unpaid taxes.
A Chapter 13 bankruptcy debtor (Debtor) filed an adversary proceeding seeking a declaration that a creditor's second mortgage lien
on his residence was void.
They are constructed to track the default experience of consumer balances in four key loan categories: auto, bankcard, first mortgage lien
and second mortgage lien
A $1,500,000 first mortgage lien
, with a three-year term and collateral, closed with a New York area bank.
22) The court reasoned that if, by applying the county's ordinance, the mortgage lien
was relegated to a second lien position of less value, it was not the first-priority lien position for which the lender had contracted.
First Arkansas alleged that the law firm didn't disclose a $5 million first mortgage lien
that First Federal Bank had on the bond issue.
Franklin Lender LLC, an entity that is owned and controlled by Israeli property firm Fishman Holdings of North America, was the only bidder and paid slightly less than the mortgage lien
of $47 million, said Yehuda Mor, executive vice president of Fishman.
Shropshire helped finance the buyer's purchase of the business and holds a mortgage lien
Supreme Court held a secured creditor's homestead mortgage lien
interest cannot be reduced by a Chapter 13 bankruptcy.
However, lenders often wish to keep a mortgage lien
alive, in the event that a deed is later set aside for legal or equitable reasons, and to avoid an argument that the mortgage was discharged when the underlying debt was canceled.
A long line of Florida case law leaves no question that the person entitled to enforce the note has the concurrent right to foreclose the mortgage lien