second mortgage

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Related to second mortgage: Home Equity Line of Credit
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  • noun

Words related to second mortgage

a mortgage that is subordinate to a first mortgage

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References in periodicals archive ?
You also need to consider the impact of any future interest rate rises on your ability to repay both your existing mortgage and the new second mortgage.
In July 2007, CitiMortgage contacted LBHI and demanded it repurchase the second mortgage after CitiMortgage discovered a misrepresentation of the owners' debt.
The only category boomers were actually 23% higher than the national average was second mortgage.
Citigroup, Inc (NYSE: C) has announced that it would join the US government's second mortgage modification programme.
SAN FRANCISCO-BASED LOANPERFORMANCE, a subsidiary of First American Real Estate Solutions LP (RES[R]), Anaheim, California, has introduced Second-Look[TM], a service that uncovers the existence of second mortgages added after origination.
He said five other Lancaster investors gave McCray $7,300 to appraise land at the mall for a purported hotel, but the check was instead used to pay off Peel's second mortgage on her home, Campbell said.
MDHA and AHR chose to structure its program to offer a second mortgage to qualified applicants.
A second class of individuals who would be unintended victims of this legislation would be people who are starting small businesses and using their homes as equity for fixed-term second mortgages.
The salesman finds out what product a homeowner wants, such as a satellite dish, then sells it to him on credit, securing the loan with a second mortgage on the house.
The new loan products offered under the program are Alt-A Standalone Home Equity Line of Credit (HELOC), Alt-A Standalone Second Mortgage and the Nonprime Standalone Second Mortgage.
A Chapter 13 bankruptcy debtor (Debtor) filed an adversary proceeding seeking a declaration that a creditor's second mortgage lien on his residence was void.
The programme would allow all customers of Wells Fargo or Wachovia who have already modified their first mortgage through the Home Affordable Modification Programme to also modify their second mortgage.
2 million first mortgage and a $100,000 line of credit for a 30-unit co-op located at 114 Morningside Drive in Manhattan; a $1 million line of credit and a $900,000 second mortgage for a 95-unit co-op located at 3755 Henry Hudson Parkway in Riverdale, N.
What's happening is that home purchases are increasingly being made using a first and second mortgage for a ``combo'' loan.