A mortgage taken out on a property that is already mortgaged.
- What struck me was the number of people whose home was under threat from a second mortgage or secured loan.
- Junior loans, such as second mortgages, are wiped out upon foreclosure of any previously established loan.
- To raise that amount of money, people generally take out second mortgages on their homes or go to friends and relatives.
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Syllabification: sec·ond mort·gage
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