second mortgage

American  

noun

1. a mortgage the lien of which is next in priority to a first mortgage.

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second mortgage British  

noun

1. a mortgage incurred after a first mortgage and having second claim against the security

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Etymology

Origin of second mortgage

First recorded in 1900–05

Example Sentences

“Any home buyer who assumes such a mortgage would still need to fund the rest of the home price somehow, either in cash or with a second mortgage.”

From Barron's

A big source of its growth had been the second mortgage.

From Literature

I have looked at home-equity investments, home-equity lines of credit, second mortgages, etc., all of which we don’t qualify for for one reason or another.

From MarketWatch

They heard about other families taking out second mortgages or borrowing against their retirement to continue funding surrogacies.

From The Wall Street Journal

And I had to have a second mortgage on my house to guarantee the show to go into that building.

From MarketWatch