A blanket lien is a security interest in all of a debtor's assets that secures any and all obligations the debtor owes to the secured party. A blanket lien gives the secured party the right to seize and sell any of the debtor's assets to satisfy the debt. This type of lien is often used by lenders to secure a loan. What is the difference between a UCC-1 and UCC 3? A UCC-1 is a financing statement that a debtor files in order to provide notice that the debtor has an interest in the collateral. A UCC 3 is an amendment to a UCC-1 that changes the debtor's name, address, or the collateral. What is an example of a buydown? A buydown is an arrangement in which a borrower pays a lump sum at the beginning of a loan in order to reduce the interest rate for the remainder of the loan term. For example, a borrower who takes out a $100,000 loan with a 5% interest rate may pay a $2,000 buydown fee to reduce the interest rate to 4% for the first year. Buydowns are often used by homebuyers who are unable to afford the full interest rate on their loan. Is a blanket mortgage a lien? A blanket mortgage is not a lien. A blanket mortgage is a type of loan used to finance the purchase of multiple properties. The loan is secured by the property being purchased, but the borrower only makes one monthly payment. What is an example of a blanket mortgage? A blanket mortgage is a type of mortgage that finances more than one piece of real estate. The real estate is held as collateral on the mortgage, but the properties can be sold individually. What is a Banklet? A Banklet is a short-term, interest-bearing loan that a company may use to finance its operations. The loan is typically used to cover expenses such as payroll or inventory costs. Banklets typically have a term of one year or less.