second mortgage
additional mortgage, second loan gained by placing a property in mortgage
Second mortgage
A second mortgage typically refers to a
secured loan (or
mortgage) that is subordinate to another loan against the same property. In
real estate, a property can have multiple loans or
liens against it. The loan which is registered with county or city registry first is called the first mortgage or first position trust deed. The lien registered second is called the second mortgage. A property can have a third or even fourth mortgage, but those are rarer.
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second mortgage
Noun
1. a mortgage that is subordinate to a first mortgage
(hypernym) mortgage
second mortgage
Eng: second mortgage
Urdu: رہَن دَر رہَن ۔ جائیداد کا ایسا مَکفُولَہِ رہَن جو پہلے رہَن کی بھی ضَمانَت دے ۔