Financial Dictionary
first mortgage
- A real estate loan with the right to payment in full before payments to other lenders are made. First mortgages are generally considered low-risk investments, although the quality of real estate pledged as collateral is of crucial importance in determining the riskiness of the mortgage.
Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary
Main Entry:
first mortgagesee
MORTGAGE
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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