FinancingIntermediate
What Is Second Mortgage?
A second mortgage is any loan secured by a home that's subordinate to an existing first mortgage — including HELOCs and home equity loans — meaning the first lender gets paid first if the home is sold or foreclosed on.
Most useful for: Repeat Buyer · Homeowner
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This definition is provided for general educational purposes and is not financial, legal, tax, or real estate advice. Verify important decisions with appropriately qualified professionals.
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