The lien process for a Best Egg Secured Loan works as follows:
- About one week after your secured loan is issued, a UCC-1 financing statement is filed to place a lien on the fixtures in your home.
- If your home has a co-owner, they must provide consent for the lien—but they won’t be personally obligated on the loan, and their credit won’t be checked.
- Once your loan is paid in full and at least 10 days have passed, we’ll initiate the lien removal process by filing a termination with your county.
The lien must be satisfied before you can typically sell, refinance your first mortgage, or secure new financing on your home.