First Lien


Definition of "First lien"

First right of a party, usually a creditor, to hold, keep possession of, or control the property of another to pay a debt, duty, or obligation.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Up-front Fee

Received immediately when an investment is made or contract signed. For example, a real estate limit ...

Realized Capital Gains (losses)

Increases (decreases) in capital assets (such as stocks and bonds) between the date of purchase and ...

Home Inventory

An individual's possessions at his residences, such as furniture. A listing of items and their costs ...

Tax Deferred Annuity (tda)

Retirement vehicle permitted under section 403 (b) plan of the U.S. Internal Revenue Code for employ ...

Morbidity Assumption

Statistical projection of future illness, sickness, and disease. ...

Funding Instrument/funding Media/funding Vehicle

Legal contract, such as an insurance policy, annuity or pension plan, containing actuarial equivalen ...

Related Real Estate FAQ

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you ...

What Is A Negative Amortization?

A negative amortization is a type of loan situation that occurs when the monthly payments do not cov ...

What Happens When You Prequalify?

When you are prequalified, the lender gives you an estimate but does not formally commit to giving y ...

Should I Pay Points For A Lower Rate?

Paying points for a lower interest rate is a trade off between paying money now versus paying money ...

What Do I Need To Know About Indemnity Insurance?

A principle of insurance which provides that when a loss occurs, the insured should be restored to t ...

What Is A Rate Lock?

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What is the Best Time of Year to Buy a Home? How is Square Footage Determined? What is Hazard Insurance? Why Use a Real Estate Agent? 7 Tips for a First Time Homebuyer

FAQ

What is an appreciation? How much Life Insurance do I need? What is zoning? What is commission? If I want to buy a house and I know the property and the seller already have an agent, can I act as my own agent and negotiate a lower fee?