second lien

a lien subordinate to a previous or preferred lien. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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The second lien amount is reduced in monthly increments over the affordability period.
Many homeowners may be struggling to make their monthly mortgage payments because they have a second lien.
Aid to homeowners needing loan modifications now, including first and second lien principal reduction.
But if a second lien is in place, then it should take place ahead of that new mortgage.
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