A second mortgage is a junior lien to your first mortgage allowing you to borrow against the equity in your home.
Mortgages are significant investments that require due diligence and analysis by lenders and borrowers. A second mortgage is a loan taken out on the equity in a home. Unlike a primary mortgage which.
Second mortgage definition is – a mortgage the lien of which is subordinate to that of a first mortgage.
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A second mortgage is any loan secured by the value of your home that you have in addition to your primary mortgage. Second mortgages fall into three types: home equity loans, home equity lines of credit (HELOCs) and piggyback loans.