follow Dictionary.com

11 Trending Words of 2014

second mortgage

noun
1.
a mortgage the lien of which is next in priority to a first mortgage.
Origin
1900-1905
1900-05
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source
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

noun
1.
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
Cite This Source

Word of the Day

Difficulty index for second mortgage

Few English speakers likely know this word

Word Value for second

9
11
Scrabble Words With Friends