Second Mortgage

Business / Debt / Second Mortgage: A second mortgage is taking out a mortgage on a property which is already mortgaged. This can be used to raise capital if the property has significantly increased in value and would involve finance companies rather than banks or building societies. Since the first mortgagee (lender) usually holds the deeds of the property, the second mortgagee will carry a higher risk and thus charges a considerably higher rate of interest.Secured BondA bond which is secured by the guarantee of assets or collateral is a secured bond.

Other Words for Second

Second Adjective Synonyms: subsequent, following, next
Second Verb Synonyms: moment, instant, flash, minute, twinkling or wink or bat (of an eye), split second, sec, jiffy, two shakes (of a lamb's tail), tick, half a mo
Second Noun Synonyms: alternate, other
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Junior Lien-Mortgage

Business / Real Estate / Junior Lien-Mortgage: An obligation, such as a second mortgage, that is subordinate in right or lien priority to an existing lien (senior loan) on the same real estate. MORE

Purchase-Money Mortgage

Business / Finance / Purchase-Money Mortgage: A mortgage given by a buyer in lieu of cash when the buyer is unable to borrow commercially for the purchase of property. MORE

Second Position Of The Leg

Entertainment / Ballet / Second Position Of The Leg: The dancer stands with feet turned out along a straight line as in first position, but with the heels about one foot apart. The term seconded generally means to or at the side, Second position of the MORE

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