Sentences with phrase «lien position behind»
A type of debt that places the investor in a lien position behind or subordinated to a company's primary creditors.
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The investor obtains a gap loan, in a second lien position behind the bridge loan, and uses the funds from the gap loan to repair the property.
They are also referred to as second mortgages, because they are used once you actually own the house, and also because the HEL will occupy a second - lien position behind the first mortgage.