Definition of second mortgage in English:
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.
Definition of second mortgage in:
- US English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Canada
Most popular in Australia
Most popular in Spain
Most popular in Malaysia
Most popular in Pakistan