second mortgage Definition

second mortgage

Definition

A mortgage on real estate which has already been pledged as collateral for an earlier mortgage. The second mortgage carries rights which are subordinate to those of the first.

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second mortgage is ...
... part of the Lending & Credit and Real Estate subjects.

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second mortgage appears in the definitions of these other terms on BusinessDictionary.com

bootstrapping, secondary financing, piggyback loan, first mortgage, mortgage banker, and