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second mortgage

 

Definitions from WordNet

Noun second mortgage has 1 sense
  1. second mortgage - a mortgage that is subordinate to a first mortgage
    --1 is a kind of
    mortgage

Definitions from the Web

Term: Second Mortgage

Part of Speech: Noun

Sense: A type of loan secured by using your home as collateral, which is subordinate to the first mortgage on the property.

Usage: Many homeowners choose to take out a second mortgage to access the equity in their property.

Example Sentence: I decided to apply for a second mortgage to finance the renovations on my house.

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Part of Speech: Adjective

Sense: Relating to or associated with a second mortgage.

Usage: The bank offers special interest rates for second mortgage loans.

Example Sentence: We completed the necessary paperwork for the second mortgage application.

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