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second mortgage Line breaks: sec¦ond mort|gage

Definition of second mortgage in English:


A mortgage taken out on a property that is already mortgaged.
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.
Definition of second mortgage in:
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