a mortgage the lien of which is next in priority to a first mortgage.
Did You Know How This Word Was Formed?Words are funny things. Here are some that might not mean what you thought ... at least when they were originally formed.
Origin of second mortgage
First recorded in 1900–05
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for second mortgage
a mortgage incurred after a first mortgage and having second claim against the security
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012