In other words, with a Home Equity Loan or HELOC, you will have two mortgages on your property; in all likelihood, it will have a higher interest rate than your first mortgage due to the fact that it will be held in a second
lien position against the property.
Not exact matches
Newsday has reported that Mehta secured the
position, which paid $ 79,000 a year, despite a checkered financial past that includes a home foreclosure, two bankruptcy filings, a tax
lien and lawsuits
against him by creditors who allege that he owes thousands of dollars in unpaid bills.
If the unit owner failed to pay a costs award then the corporation would be in a
position to file a
lien against the owner's unit.
Jamea
positions his company as competing
against services such as LexisNexis Accurint, Wolters Kluwer CT
Lien and, to a lesser degree, Dun & Bradstreet.
You see, since the financing for the HERO program is a tax
lien and it is paid with your property taxes, it takes first
position over other
liens against the property (i.e. mortgage lenders).