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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203) Therefore, if the mortgage were subsequently perfected in the hands of the trust, its brief moment of lack of perfection would not matter unless there was already a junior mortgage on the property; subsequent liens and sale are unlikely to be an issue.
Bank National Association, which holds both notes and has already obtained a judgment of foreclosure on the junior mortgage.
This article attempts to clarify some of these risks so that mezzanine lenders will either adequately price their loans to reflect the increased risk or return to traditional junior mortgage financing.
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 textbook or paradigm case is the purchasing mortgagor who asserts the destruction of a junior mortgage where the mortgagor is personally liable on its underlying obligation.
Apparently, the trial court applied a theory that by failing to foreclose its junior mortgage, D.
It could, of course, have been intended as a second or more junior mortgage.
The investment program will target mezzanine loans, first mortgage bridge loans, preferred equity, and junior mortgage participations.
This would preserve as viable a tenancy or a junior mortgage or judgment.
Additionally, spreads on some junior mortgage securities have retraced a portion of the sharp widening that occurred in March, junior mortgage securities are trading in a more orderly fashion, and the ABX index is off its lows.
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.
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