mortgage - open ended unsecured line of credit

hey guys…hopefully everyone is active and doing with with REI these days ;]

i came across an entry in the county clerks office in which i’m not quite sure what it is. it was a mortgage entry labeled “open ended unsecure line of credit”.

anybody know what this is? why someone would use this?

(this was an entry of a preforeclosure home which i was researching)


More info would be helpful but an “open ended unsecured line of credit” would be a line of credit with no collateral, so why it would appear on a preforeclosure I dont know. If it was liened against the home, then the home would be the collateral making it a secured line of credit.

I hope this helps

Eric Medemar

it was proabaly a LOC the owner got at one time, and then they defaulted and either the lender filed a lien on the property to protect their interest, or the sold it to a collection agy and THEY filed the lien. was this a judgment or just a lien? usually defaulted debts of this nature go to court in a civil lawsuit before they get attatched to property so i am guessing it is in the form of a judgment