Definitions for "First mortgage"
Related Terms:
Secondary financing, First lien, Junior mortgage, Subordinate financing, Primary financing, Subordination clause, Equitable mortgage, Subject to mortgage, Second mortgage, Mortgage, Partial release, Satisfaction of mortgage, Security instrument, Due on sale clause, Deed of trust or mortgage, Mortgagor, Subordination, Discharge of mortgage, Assumption of mortgage, Assumption of a mortgage, Due-on-sale clause, Defeasance clause, Mortgage loan, Foreclosure, Unencumbered, Home mortgage, All-inclusive trust deed, Mortgagee, Alienation clause, Legal charge, First charge, Deed in lieu, Subject to, Release of mortgage, Dragnet clause, Subordination agreement, Deed in lieu of foreclosure, Mortgage deed, Wrap-around mortgage, Release clause, Voluntary conveyance, Deed of trust, Charge, Submortgage, Nod, Co-mortgagor, Due-on-sale-clause, Voluntary lien, Junior lien, Due on sale
The primary loan on a real estate property. This loan has priority over all other "secondary" loans.
A loan used to finance the purchase of a home. The primary lien against a property.
A mortgage that is the primary lien against a properly.
A lien that is placed upon real estate and that is superior to all other claims with the exception of federal tax liens.
A real estate loan that has priority over all subsequently filed loans against a property.
MP] A mortgage that has a first-priority claim against the property in the event the borrower defaults on the loan.
The home loan on a property that has preferred status over other loans taken out on the property.This mortgage is usually paid first and in case of default or repossession, this loan is paid first from any liquidation or secruities.Subordinate loans are paid with whatever remains after this primary loan is repaid.Because of its preferred status, the first mortgage usually offers a better interest rate.
The mortgage that has first lien position in the event of default.
A mortgage that will be paid first from proceeds from the sale of the home if a homeowner defaults on payments.
A mortgage whose lien is superior to the lien of any other mortgage on the same property. This lien is superior either because it was recorded prior to all other mortgages or because the mortgagee of another mortgage which had been recorded ahead of this mortgage has agreed to have a lien subordinated to the lien of this mortgage.
A mortgage registered on your property first. They have first claim to the home should there be a foreclosure.
The primary mortgage on a property. When the property is sold, the lender who issued the first mortgage is paid first.
The primary mortgage on a property. If a foreclosure occurs, the first mortgage is repaid before any "junior" mortgages.
A real estate loan with a lien (i.e., mortgage or deed of trust) on the subject property that has priority over any subsequently lien.
A mortgage which is registered first against the property. This mortgage has to be paid first in the event of sale or default.
The first mortgage on a property that has priority over any subsequently recorded mortgages.
a mortgage that is registered first in priority against the property, taking priority over all other liens or encumbrances.
A mortgage in which the interest rate does not change during the entire term of the loan.
is the first mortgage loan on the property; it's the first security registered on a property. It has precedence over all other mortgages; priority is determined by the date and time registered.
A real estate mortgage that has first claim over any subsequently recorded mortgages.
The primary or original loan secured upon real estate.
The first mortgage is the primary lien against the property. In other words, the first mortgage has first claim in the event of default.
a mortgage that has priority over all mortgages and liens except those imposed by law
a loan secured by a home that has no other mortgage against it
a loan secured when an individual buys a home, or it can be a refinancing of an existing mortgage
Is the primary loan. It has priority over all other claims to the title.
That mortgage which has priority as a lien (see Glossary) or debt over all other mortgages. In case of foreclosure, the first mortgage must be paid before any other mortgage or lien.
A mortgage loan that creates a first and primary lien against the property.
The first, or senior claim against an asset, as security for repayment of a debt.
A mortgage having priority over all other voluntary liens on a specific property.
A mortgage is in the 1st lien position, which takes priority over all other liens such as a home equity.
A mortgage on property that is superior in position to any other mortgage.
A mortgage that is the primary lien against the property.
Property loan with lien priority over all other mortgages. In the event of foreclosure, payment of the first mortgage is satisfied prior to other outstanding mortgages.
Mortgage that has first claim to a property in case of default.
A mortgage that is in first position on title.
The loan on a property that takes priority over all other loans on the property.
That mortgage which is recorded at the earliest time. The time of recording is the sole criteria. Size of loan and type of mortgage are immaterial. When the first mortgage is paid off and released, the second mortgage (if any existed) becomes the first mortgage.
A mortgage that is the senior lien against a property.
Mortgage given first priority at the Registry/Land Titles Office. Can be conventional or high ratio. They give you the best rate of interest.
mortgage that is the primary lien; in "first lien" position against the property used as collateral.
The principle or "first" mortgage on a property, whereby all other mortgages and most other liens would be secondary, etc.
a lien on a property which the lender claims is superior to any claims of any subsequent lenders.
A mortgage having priority as a lien over any other mortgage or lien on the same property.
A debt registered against a property that has first call on that property.
The primary mortgage, which must be paid off before all other property debts.
A mortgage that has a primary lien against a property.
Mortgage holding priority over the claims of subsequent lenders against the same property.
A mortgage which is in first lien position on a property Because it is the oldest, it takes priority over most other liens, (which are financial encumbrances).
A mortgage that has the first claim in the event the borrower defaults on the mortgage.
A mortgage which has priority over all other voluntary liens against a certain property; used in states that secure loans against real property with a Mortgage.
A first mortgage is a mortgage that is recorded at the earliest time.
A mortgage having priority over all other voluntary liens against a parcel of real property.
A mortgage that is in first position among any liens recorded against a property.
A real estate loan that has priority over any subsequently recorded mortgages.
The mortgage which creates a lien that has precedence over all other lenders in the event of default.
A mortgage that is the primary lien against a property.
a mortgage that creates a lien against real property having senior priority.
The first mortgage on a property that has priority over all other mortgages recorded against it.
The first security registered on a property. Additional mortgages secured against the property are termed 'secondary'.
A first charge on a property which ranks ahead of any other mortgages or encumbrance.
The primary loan or mortgage secured by a piece of property.
Sometimes there is more than one mortgage on a property. In the event of a default by the borrower, the holder of the first mortgage will be repaid first by the proceeds of a sale. The second mortgage holder (if there is one) will be paid with any remaining proceeds.
A mortgage that is a first lien on the property pledged as security.
Mortgage that is the primary lien against a property. Being in the primary lien means that if a house is seized by creditors, the lender in the first lien gets the proceeds first.
The primary mortgage which has the first claim against a property.
This is what most people think of when someone says mortgage. It is a loan in first position against a property that is usually the balance of the loan used to purchase a property in the first place. All other loans against the property are subordinate to this loan.
The original loan taken out to purchase a home. Fixed-Rate Mortgage A loan with an interest rate that never changes.
The mortgage that is in first place among any loans recorded against a property. Usually refers to the date in which loans are recorded, but there are exceptions.
A mortgage having priority over all other liens. Homeowner's (or Hazard) Insurance An insurance policy whereby, for a premium, an insurer agrees to insure a property in case of a loss.
The mortgage that is first among any loans against a property. Often refers to the date of the recording of the loan.
The primary home loan on a property, which has priority over all other claims to the title.
The senior mortgage which, by reason of its position, has priority over all junior encumbrances. The holder of the first or senior mortgage has a priority right to payment in the event of default.
The first mortgage in the mortgage agreement that is considered to be in first place and will have first claim on assets in the event of default.
The mortgage that is first - in terms of the date in which loans are recorded - among any loans recorded against a property.
The mortgage that is the primary lien against a property.
A mortgage that, when registered, is first in line on the property, giving the lender superior right to the proceeds of the sale of the property over other, later claimants.
A mortgage which is in first lien position, taking priority over all other liens (which are financial encumbrances). Most mortgage lenders require that they be in first position before they will lend to you unless you are obtaining a second mortgage.
The first, or senior claim against a property, as security for repayment of a debt.
A mortgage that takes priority over all others. Mortgage seniority established by date and time of registration.
The mortgage agreement which has first claim on the asset.
A mortgage with precedence over the second mortgage. In the case of closing on property the first mortgage will we covered before the second.
A mortgage that has first claim in the event of default.
A legal document pledging collateral for a loan that has first priorities over all other claims against the property except taxes and boded indebtedness.
A lien against real property that has priorty over all other claims against the property except tax liens and bond indebtedness.
A loan that has priority as a lien over all other loans. See senior loan.
Gives the lender a primary lien/charge against your house and property which has precedence over all other mortgages. Priority is determined by the date and time registered, so a first mortgage was literally and legally registered "first". A new first mortgage can therefore only be registered as a "first" mortgage upon the discharge of an existing one if the holder of a second mortgage "postpones" (i.e., "puts back in time") to a time immediately following the registration of the new first mortgage.
A debt creating a primary lien against real property.
The mortgage which is the primary lien against a property.
A type of mortgage that through a lien gives precedence to the lender of the first mortgage over all other lenders in case of default.!-- google_ad_client = "pub-5825843460569263"; google_ad_width = 468; google_ad_height = 15; google_ad_format = "468x15_0ads_al"; google_ad_channel = ""; google_color_border = "FFFFFF"; google_color_bg = "FFFFFF"; google_color_link = "191919"; google_color_text = "000000"; google_color_url = "008000";
A mortgage recorded in first place on a property and having priority over all other mortgages that follow.
The mortgage having priority over all other mortgages taken out on a home property.
The mortgage that has first claim in the event if a default.
A mortgage creating a lien against a property that has priority over all other voluntary liens that exist against the property. Foreclosure of a first mortgage lien will generally extinguish or cut off any second mortgage lien or other subordinate lien.
Mortgage that has priority as a lien over all other mortgages. In cases of foreclosures, the first mortgage must be satisfied before other mortgages are paid off.
A real estate loan that creates a primary lien against real property.
The primary mortgage on a property that has priority over all other voluntary liens.
A first charge registered against the property. Upon sale foreclosure of the mortgage, the first mortgagee must be fully satisfied out of the proceeds before any subsequent claims.
is the loan that has the primary claim on all proceeds from the sale or other disposition of the property.
A mortgage that has priority over other mortgages.
A mortgage which has first claim against a property before any other mortgages. Also known as a senior mortgage, this mortgage must be paid off first in the case of default.
In order to protect the rights of the lender and the borrower, liens on real estate are usually recorded in the county where the property is located. A deed of trust or mortgage typically becomes a lien against the property when it is recorded, and this record typically establishes the priority of liens if the property is sold for any reason. The loan with first rights is the First Deed of Trust or First Mortgage.
The first mortgage is the one that's the primary lien against a property.
mortgage that is the primary lien against a property. Back
The mortgage that is number one in priority of all other recorded loans against a property
A mortgage having a first lien or priority position over any other mortgage or lien on the same property.
A mortgage that gives the mortgagee a security right over all other mortgages of the mortgaged property.
A home loan that is the primary lien against a property.
A lien on property in which the lender¹s claims are superior to the rights of subsequent lenders. Such a lien position means less risk to the lender and thus normally results in a lower interest rate charged to the borrower than that charged on second or junior mortgages. Certain lenders only make first mortgages due to regulatory requirements; others limit mortgages to these senior instruments due to company policy.
A real estate loan with the right to payment in full before payments to other lenders are made. First mortgages are generally considered low-risk investments, although the quality of real estate pledged as collateral is of crucial importance in determining the risk level of the mortgage.
A mortgage which is in first lien position, taking priority over all other liens. In the case of a foreclosure, the first mortgage will be repaid before any other mortgages.
A mortgage which carries priority over any subsequent mortgages if the borrower goes into default and his/her assets have to be sold to pay creditors.
A loan on real estate that creates a paramount and prior lien to all other mortgages against the property.
The primary mortgage on a property. As the most senior voluntary lien, the first mortgage takes priority over all other voluntary liens.
A mortgage having priority over all other voluntary liens against certain property, as evidenced by recording; the earliest recorded mortgage remaining unpaid.
The mortgage which is the first lien on title, taking priority over all other "junior" liens (which are Financial encumbrances).
The senior mortgage attached to a property. It is essentially the lien which has been recorded first against the property.
The first lien on real estate, or a loan that has priority over other mortgages on the same property.
A mortgage which is the primary lien against a property, so if a foreclosure were to take place, the first mortgage would be repaid before any other mortgage.
A lien on property in which the lenders claims are superior to the rights of subsequent lenders. Certain lenders only make first mortgages due to regulatory requirements; others limit mortgages to these senior instruments due to company policy. Usually refers to the date in which loans are recorded, but there are exceptions.
A mortgage registered before all others on title.
The first-priority claim against real property in the event the borrower defaults on the loan.
A mortgage that takes priority over any subsequent secured lending if the borrower goes into default and their assets have to be sold to pay creditors.
A mortgage having priority over all other voluntary liens against the property it is liening on.
A mortgage on property creating a prior claim over any subsequent mortgages or charges and usually conveying the legal estate to the mortgagee. Upon foreclosure of the mortgage, the first mortgagee must be fully satisfied out of the proceeds before any subsequent claims.
A mortgage that is the first loan recorded in the public record and generally the primary loan against a property.
The mortgage on property that is superior in right to any other mortgage.
Primary mortgage on a property, which takes priority over any other liens and is satisfied before any secondary liens.
The primary loan securing a property, taking precedence over all other liens or financial encumbrances.
The mortgage that is in top priority among all loans on a property.
a secured loan, backed by the value of the home, so the lender isn't taking on as much risk as an unsecured creditor
First pass regression First preferred stock
Fiscal Year
revenue stamp