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What is a second mortgage?

 
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Graysonaw



Joined: 25 Aug 2009
Posts: 47

PostPosted: Thu Feb 13, 2014 2:31 am    Post subject: What is a second mortgage? Reply with quote

A second mortgage is just that it is an additional mortgage on a house or other property where the original mortgage is still in effect. The term second mortgage denotes the loans priority in getting paid upon default.
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