Second mortgage

A Mortgage on Real estate which has already been pledged as Collateral for an earlier mortgage. The second Mortgage carries rights which are subordinate to those of the first.

Related Terms: 8 Car, Collateral, Mortgage, Real, Right, Real estate, SEC, Second mortgage

Other Related Pages: Category: Real_Estate Starting With: S

Additional Related Terms: Allowance for depreciation, Accrual of discount, Amortization of premium, At par, All or any part, At best, At call, At risk, Add-on service, Abstract of title