second mortgage (Meaning)
Wordnet
second mortgage (n)
a mortgage that is subordinate to a first mortgage
Synonyms & Antonyms of second mortgage
No Synonyms and anytonyms found
second mortgage Sentence Examples
- The homeowner decided to secure a second mortgage to cover the unexpected medical expenses.
- The bank offered the second mortgage at a higher interest rate due to the increased risk.
- The couple used their home equity to obtain a second mortgage for home renovations.
- The second mortgage was a last resort option for the family who had exhausted other borrowing options.
- The lender approved the second mortgage after carefully reviewing the borrower's financial status.
- The property had a second mortgage placed on it by the previous owner, which reduced its market value.
- The realtor advised against taking out a second mortgage, citing its potential financial risks.
- The financial counsellor helped the customer understand the implications of securing a second mortgage.
- The second mortgage was used to consolidate high-interest debts, providing the borrower with lower monthly payments.
- The foreclosure process began when the homeowner defaulted on both the first and second mortgages.
FAQs About the word second mortgage
a mortgage that is subordinate to a first mortgage
No synonyms found.
No antonyms found.
The homeowner decided to secure a second mortgage to cover the unexpected medical expenses.
The bank offered the second mortgage at a higher interest rate due to the increased risk.
The couple used their home equity to obtain a second mortgage for home renovations.
The second mortgage was a last resort option for the family who had exhausted other borrowing options.
