Seattle, Washington (PRWEB) June 30, 2013
Rate State's latest mortgage article explains why liens are needed for mortgages to function. In an effort to guide loan shoppers to their best options, Rate State publishes articles frequently and now has a sizable collection of helpful literature. In their latest article, they hope to clearly explain what a lien is and how to avoid trouble when selling a house.
The article defines mortgage liens in their article very concisely; “A mortgage lien is a type of conditional ownership of your home that is claimed through a home mortgage lender. Liens are the basis of all mortgages; they use the house that you live in as collateral, ensuring that you pay your mortgage. When people apply for a second mortgage or a lien against the first mortgage, it is similar to borrowing against the equity of your home.”
The article also mentions some of the less common types of liens, such as tax liens or construction liens.
Rate State has a large collection of articles for homeowners, and they hope that anyone who needs honest advice will visit their website. They also provide a complimentary loan search tool, that allows for easy comparison of lenders.
Rate State helps consumers compare today’s mortgage rates through their online comparison tool to ensure they are getting the best rate for their home mortgage or refinance before making their next purchase. They provide consumers with access to the information they need in order to make a decision potentially saving thousands of dollars over the term of their next home loan.