Sentence examples for the first lien from inspiring English sources

Housing finance experts have expressed concern that principal reduction would unfairly benefit the banks that own many of those second liens, with some calling for second liens to be wiped out if the first lien gets cut.

Naturally, lenders prefer to be in the first lien position.

When it is the first lien holder, it will offer the same to holders of the second lien.

The first lien holder has the first right to any money recovered, and the second lien holder has to wait its turn.

Mr. DeMarco also raised the thorny issue of second liens on homes where the first lien — the mortgage — has been reduced.

He added that because Mr. Hayes has several liens on the house, the first lien is probably the only one that will be repaid in full.

Some analysts worry that servicers are able to protect their own holdings of second-lien loans while foreclosing on the first liens.

This is not simply a fight between hedge funds, which own the securities that contain the first liens, and banks that house the seconds.

When Bank of America held the second lien, it also required first lien holders to forfeit that amount in a short sale.

He did so, paying the legal costs associated with the suit involving the second lien.

Because when the principal on the first mortgage is reduced, the second lien is typically wiped out.