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Home equity loans are secured loans If you fail to keep up with repayments, the lien on the property gives a lender the right to sell your house to collect what's owed. Explore how a lien affects your ability to secure a home equity loan and understand the role of subordination agreements and debt ratios. Simply put, a property lien is collateral This collateral is used to borrow money The most common type of property lien is a mortgage, which is when a lender places a lien on your home. Placing a lien on a property indicates that the property owner owes money Liens are tied to properties, not individuals, and remain until the property is sold or transferred and the. Property liens can be categorized as voluntary or involuntary, and general or specific A mortgage is what’s known as a voluntary lien, meaning you’re consensually granting another party, usually. Learn about heloc lien options, process, and implications, including types of liens, lender requirements, and how to navigate heloc lien removal. Home equity loans and lines of credit are ways to use the value in your home to borrow money Learn about the different options, the benefits, and the risks of each. Both helocs and home equity loans are types of second mortgages Like your first mortgage, a second mortgage uses your home as collateral, creating a second lien on it. Getting one of these loans means your home has a lien on it and your actual equity in the home is reduced Borrowing against the equity in your home can be a great way to get a. There are several types of home lien Specific liens are attached to one particular asset, such as an exact address Liens can also be voluntary or involuntary (aka consensual or.