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

  1. The homeowner decided to secure a second mortgage to cover the unexpected medical expenses.
  2. The bank offered the second mortgage at a higher interest rate due to the increased risk.
  3. The couple used their home equity to obtain a second mortgage for home renovations.
  4. The second mortgage was a last resort option for the family who had exhausted other borrowing options.
  5. The lender approved the second mortgage after carefully reviewing the borrower's financial status.
  6. The property had a second mortgage placed on it by the previous owner, which reduced its market value.
  7. The realtor advised against taking out a second mortgage, citing its potential financial risks.
  8. The financial counsellor helped the customer understand the implications of securing a second mortgage.
  9. The second mortgage was used to consolidate high-interest debts, providing the borrower with lower monthly payments.
  10. 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.