Definitions for "Second Mortgage"
A loan using a home's equity as collateral. A first mortgage must be repaid before a second mortgage in a sale.
Any mortgage agreement that is subordinated to a prior mortgage. The secondary market is made up of investors who buy and sell mortgages originated by a third party.
MP] A loan with a second-priority claim against a property in the event that the borrower defaults.
Keywords:  broker, seller, market
Seller broker Seller's market