second mortgage

noun

Definition of second mortgage

: 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 First, increase funding for rental assistance to keep people in their homes with dedicated funding by removing the second mortgage deduction and capping the first mortgage deduction. Jamie Goldberg, oregonlive, 19 Apr. 2022 Thanks to the $1 million grant, each family in the program can receive up to $90,000 in a second mortgage loan that is forgivable after ten years. Ko Lyn Cheang, The Indianapolis Star, 4 Mar. 2022 The woman paid the man several times, and even opened a second mortgage to continue providing the man with money. cleveland, 21 Jan. 2022 That wasn't doable then for Upslope, a business whose startup funds came from the second mortgage of Cutter's house. Alicia Wallace, CNN, 27 Nov. 2021 Glover has had to take out a second mortgage on his home, and took out a personal loan to make payroll at The Lodge and keep it operating, Pearson said. Brad Schrade, ajc, 24 Nov. 2019 The most common are second mortgage loans from state and local governments, and have low or zero interest rates. Washington Post, 27 Sep. 2021 For those unfamiliar, shared equity homes refer to those in which lenders provide a second mortgage to the homeowner in return for sharing any profits when the home is later sold. Norbert Michel, Forbes, 17 Sep. 2021 The rules state any bike used in competition must be made available to the public, but the price tags could require a second mortgage on your house. Dave Skretta, ajc, 3 Aug. 2021 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'second mortgage.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of second mortgage

1912, in the meaning defined above

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Time Traveler for second mortgage

Time Traveler

The first known use of second mortgage was in 1912

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Dictionary Entries Near second mortgage

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Statistics for second mortgage

Cite this Entry

“Second mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/second%20mortgage. Accessed 15 Aug. 2022.

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More Definitions for second mortgage

second mortgage

Legal Definition of second mortgage

— see mortgage

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