What is a Lien?

 

Lien
Lien

Barry Kornfeld is a proficient and sincere financial advisor. Also a supporter of Shriners Children’s Hospital, Barry M. Kornfeld co-owns the Boca Raton-based First Financial Tax Group with his wife of 29 years. Mr. Kornfeld focuses on assisting pre- and post-retirees with retirement & income planning, and he specializes in First Position Commercial Mortgage notes (FPCMs). FPCMs pay a 6% yield over one year and are considered a safer alternative to other financial products.

FPMCs provide clients with a first mortgage position, also known as a first lien position. This assures the owner of the FPCM the first lien position, which is the most secure and highest priority. This position differs from secondary or tertiary positions which are only repaid after the first lien position.

A publicly recorded legal interest, known as a lien, is an encumbrance on an asset or property that remains in effect until the debt is repaid. First liens must be properly developed and recorded to be secure and binding. Mr. Kornfeld and his resource partners work to ensure that all FPCM holders have properly recorded liens in the county land records where the subject property is located, so that all FPCM note holders enjoy a low maintenance and smooth experience for the duration of their holding period.

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