Definition of Second mortgage
1. Noun. A mortgage that is subordinate to a first mortgage.
Second Mortgage Pictures
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Lexicographical Neighbors of Second Mortgage
Literary usage of Second mortgage
Below you will find example usage of this term as found in modern and/or classical literature:
1. United States Supreme Court Reports by Lawyers Co-operative Publishing Company, United States Supreme Court (1912)
"The second mortgage was to take the place of the first, and not a single bond could be issued under it, without canceling a like amount issued under the ..."
2. Security in the Americasedited by Georges Fauriol edited by Georges Fauriol (2008)
"A second mortgage is a junior mortgage which gives the lender a claim against ... Any other junior mortgage(s) would be subordinate to the second mortgage. ..."
3. South Eastern Reporter by West Virginia Supreme Court of Appeals, West Publishing Company, South Carolina Supreme Court (1920)
"RECITAL ОГ FACTS Ш They are alsu estopped to deny the recital of material facts made by the company in the second mortgage. 8. RAILROADS <S=>144(2)—SECOND ..."
4. Annual Report by New Jersey Civil Service Commission (1908)
"... for consent to issue a second mortgage for $100000; and under section 55 of the Public Service Commissions Law-, for authority to issue one hundred six ..."