Definition of second mortgage in English:

second mortgage

Line breaks: sec¦ond mort|gage

noun

  • A mortgage taken out on a property that is already mortgaged.
    More example sentences
    • 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.

More definitions of second mortgage

Definition of second mortgage in:

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources

Word of the day skosh
Pronunciation: skəʊʃ
noun
a small amount; a little