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second mortgage

a mortgage the lien of which is next in priority to a first mortgage.
Origin of second mortgage
1900-05 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for second mortgage
  • He used his student credit card to buy a house, on which he took out a second mortgage.
  • What follows is, fortunately, a lot more entertaining than an application for a second mortgage.
  • Lines of credit vs traditional second mortgage loans.
  • At the closing, the respondent knew the bank was unaware of the second mortgage.
  • With either a second mortgage, or home equity loan, but not both.
  • The buyer executes a second mortgage to seller or third party for an amount over and above that of the first mortgage.
  • To calculate the equity, estimate the market value less the balance of your first and any second mortgage or home equity loan.
British Dictionary definitions for second mortgage

second mortgage

a mortgage incurred after a first mortgage and having second claim against the security
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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