second mortgage definition

second mortgage Definition

second mortgage - definition of second mortgage - A mortgage on real estate which has already been pledged as collateral for an earlier mortgage. The second mortgage carries rights ...

second mortgage definition

Definition. Loan secured by the home owner's equity (market value of the property less balance on the first mortgage) in a property that is already mortgaged.

Second Mortgage Definition

Find the answer to the question: Second Mortgage Definition ... A second mortgage is a second lien on a property; it comes subordinate to the first mortgage and since the first ...