no mortgage just a lien, is it safe

02-26-2003, 06:39 PM

griz

Junior Member

Join Date: Feb 2003

Location: WI

Posts: 22

no mortgage just a lien, is it safe

What is the name of your state? WI

If we have a house worth approx. $135k with no mortgage but have a lien up to $190k held by the lending bank of our business, is our house considered secured? Due to the downsizing of our business there is no longer enough collateral to cover the loan so the bank will not release it untill the principle is brought down under $100k.

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