Definition for: Second Mortgage
A "second mortgage" refers to a mortgage whose lien is subordinate to that of a first or "senior" mortgage. The first mortgage is the first one to be paid back if the property is sold or goes into default.
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and cutting-edge guides and resources. Covering a wide range of topics, from starting a business, fundraising, sales and marketing, and leadership, to emerging AI
technologies and industry trends, AllBusiness.com empowers professionals with the knowledge they need to succeed.