Meaning Of The Word Second mortgage

Real Dictionary

What's the definition of Second mortgage? Find Second mortgage meanings, definitions and more at the Real Dictionary online.

Second mortgage Meaning

Second mortgage Definition
Second mortgage Definition

What's The Definition Of Second mortgage?

second mortgage in American English
an additional mortgage placed on property already mortgaged: it ranks below the first mortgage in priority of claim
noun: a mortgage the lien of which is next in priority to a first mortgage

second mortgage in British English
noun: a mortgage incurred after a first mortgage and having second claim against the security

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