First Mortgage

Business / Finance / First Mortgage: A method of inventory valuation whereby the goods first purchased or manufactured are considered the first ones sold. During periods of inflation, the FIFO method shows inflated profits compared to the last in, first out (LIFO) method.

Other Words for First

First Adjective Synonyms: fundamental, elementary, basic, primary, cardinal, key, essential
First Adverb Synonyms: foremost, leading, chief, head, premier, prime, primary, principal, pre-eminent
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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 co 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

Junior Mortgage

Business / Finance / Junior Mortgage: A mortgage that will be satisfied only after more senior mortgages have been satisfied. e.g., a first mortgage will be satisfied prior to a second or a third mortgage. MORE

Second Mortgage Lending

Business / Finance / Second Mortgage Lending: Loans secured by real estate previously pledged in a first mortgage. MORE

Wraparound Mortgage

Business / Finance / Wraparound Mortgage: An investment that allows the annuitant the choice of underlying investments tax-deferred. MORE

Wrap Around Mortgage

Business / Debt / Wrap Around Mortgage: A second or junior mortgage with a face value of both the amount it secures and the balance due under the first mortgage. The mortgagee under the wrap-around collects a payment based on its face value MORE

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