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Default: Failure of a debtor to make timely payments of interest and principal as they come due or to meet some other provisions of a bond indenture.
Involuntary lien: A lien, such as property tax increases, placed on a person’s property without that person’s consent.
Lien: Creditor’s claim against property. For example, a mortgage is a lien against a house; if the mortgage is not paid on time, the house can be seized to satisfy the lien.
