second mortgage

(redirected from Junior mortgage)
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Related to Junior mortgage: Purchase Money Mortgage
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  • noun

Words related to second mortgage

a mortgage that is subordinate to a first mortgage

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Bank National Association, which holds both notes and has already obtained a judgment of foreclosure on the junior mortgage.
The sale price was $115,000 paid by assumption of an existing 7% loan, a junior mortgage bridging the gap between the balance owed on the assumed loan and an 80% loan-to-value ratio, and cash equal to 20% of the purchase price.
7 million in non-trust mezzanine loans, and finally to the trust's $50 million junior mortgage note, which are all interest only.
The investment program will target mezzanine loans, first mortgage bridge loans, preferred equity, and junior mortgage participations.
6 million of the junior mortgage loan (the "Junior Loan") encumbering the Property.
Among the many subjects to be covered in the lender phase of the survey that were covered in earlier surveys are mortgage insurance status (FHA, VA, insured conventional, uninsured); outstanding method of payment; current status of payments; and extent and characteristics of junior mortgage liens.
The Operating Partnership also transferred its interest in the junior mortgage loan (the "Junior Loan") encumbering Continental Towers to Prime Equity.
These loans were originated using less stringent underwriting standards than those applied by some other first and junior mortgage loan purchase programs including other programs of Residential Funding Corporation and Fannie Mae & Freddie Mac.
Inlet Capital LLC provides a unique business platform to serve nationwide owners of real estate with senior and junior mortgage debt, corporate mezzanine and subordinated capital, corporate financing and private equity.
RAIT provides structured financing to private and corporate owners of real estate nationwide, including senior and junior mortgage debt and mezzanine lending, and acquires real estate for its own account.
Specifically, the Company was affected by a widening of the yield differential between LIBOR and both mortgages and junior mortgage securities that was unusually severe, and for which the Company does not hedge.
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