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Glossary of Terms > S > SECOND MORTGAGE

SECOND MORTGAGE

A mortgage that has a lien position subordinate to the first mortgage. See "lien" and "first mortgage." Even while making payments on their first mortgage, individuals can borrow again from the same lender or a different one.

S Terms

SECOND MORTGAGE

SECONDARY MARKET

SECURED LOAN

SERVICING

SINGLE-FAMILY HOME

SMART LOANS

SUBPRIME LENDING

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