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#1394883 - 05/21/10 09:01 PM lien status
Dodge Offline
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Joined: Mar 2010
Posts: 241
I need true examples of a second lien.

If I have one note with one mortgage and come in and get another note with another mortgage for some home improvements. Is that a true second lien?

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#1394888 - 05/21/10 09:10 PM Re: lien status Dodge
Dani York, CRCM Offline
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Dani York, CRCM
Joined: Apr 2005
Posts: 3,663
The lien position will be based on the outstanding number of deeds and the order in which they were filed.

In your example, if the first loan had a deed prepared and filed 1/1/10 and there were no other "active" deeds on the books, that is a first lien. If you filed a different deed on the second loan on 2/1/10 (and did not release the 1/1/10 deed), it would be a second lien.
I can't herd the cats anymore, so I just set up the electric fences and let them fry when they stray out of bounds.

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