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what is difference between lien and mortgage

  • Thread starter intellectualhonesty
  • Start date

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I

intellectualhonesty

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Someone owes me money. At first they promised me a mortgage and promissory note. Now, they only want to give me a lien or a promissory note only. I heard from my neighbor that a lien has to be renewed every year and is not as good as a mortgage. I think I want to stick to my guns and get the mortgage and a promissory note I was promised instead of a lien.

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