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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Lien

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This is the name given to the actual right that the lender has over the property in the event that the borrower defaults on payment on the mortgage. If there is a second mortgage, then this would be referred to as a second lien.

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