second mortgage

noun

: a mortgage the lien of which is subordinate to that of a first mortgage

Examples of second mortgage in a Sentence

Recent Examples on the Web The partial claim second mortgage could be ignored until the house was sold, the mortgage was refinanced or the first mortgage was paid off, at which point the partial claim would have to be paid in full. Jon Healey, Los Angeles Times, 27 Mar. 2024 They’re treated as second mortgages, but require no payments of any kind until the home is refinanced, resold or its first mortgage paid off, at which point the state loan must be repaid in full. Jon Healey, Los Angeles Times, 20 Jan. 2024 According to her indictment, Mosby also failed to disclose the federal tax debt on a second mortgage application for a condo in Longboat Key. Alex Mann, Baltimore Sun, 16 Jan. 2024 Many of these loans are similar to second mortgages and commonly known as mezzanine loans. Konrad Putzier, WSJ, 13 Nov. 2023 Interest on other second mortgages, such as home-equity loans and Helocs, can sometimes qualify, too. Aly J. Yale, wsj.com, 12 Oct. 2023 But other California debts — credit card, auto, student loans, second mortgages, etc. — were $16,430 per person, the third-smallest of the 11 states and 6 percent below the US average of $17,432. Jonathan Lansner, San Diego Union-Tribune, 23 Sep. 2023 Also known as second mortgages, home-equity loans typically come with lower interest rates than debt-consolidation loans and credit cards, because your home is used as collateral. Kerri Anne Renzulli, wsj.com, 31 Oct. 2023 At first, Magnusson, a teacher in Arizona who runs a consulting company with her husband, considered a home equity loan, sometimes called a second mortgage, because a borrower’s home secures the loan. Samantha Delouya, CNN, 22 Sep. 2023

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'second mortgage.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1912, in the meaning defined above

Time Traveler
The first known use of second mortgage was in 1912

Dictionary Entries Near second mortgage

Cite this Entry

“Second mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/second%20mortgage. Accessed 27 May. 2024.

Legal Definition

second mortgage

see mortgage

Last Updated: - Updated example sentences
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