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first lien

noun Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for first lien
  • It's always wiped out when the first lien holder forecloses.
  • On the due date, the taxes become a first lien on all personal property you own.
  • Second mortgages can create significant challenges in helping borrowers avoid foreclosure, even when a first lien is modified.

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