The mortgage is a type of lien. But there are other kinds of liens, such as when a contractor works on your house, and you didn’t pay them, they can place a lien on the property until you pay. In the worst case, a contractor could forclose and force the sale to cover the debt.
I don’t know if “foreclosure” is the right word to describe a forced sale due to a lien, but I do know the person didn’t mean to write “disclosure” instead.
Also “foreclosure,” not “disclosure.”
Can you be foreclosed on when you own out right? Seems like mortgage terminology.
The mortgage is a type of lien. But there are other kinds of liens, such as when a contractor works on your house, and you didn’t pay them, they can place a lien on the property until you pay. In the worst case, a contractor could forclose and force the sale to cover the debt.
The sentence in question was:
I don’t know if “foreclosure” is the right word to describe a forced sale due to a lien, but I do know the person didn’t mean to write “disclosure” instead.