First Mortgage
Banking
A real estate loan which is in a first lien position, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
- — Dictionary of Banking Terms and Phrases
- — Dictionary of Banking Terms and Phrases retrieved 2014-05-16
Personal Finance
A real estate loan, which is in a first lien position, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
- — Pocket Cents Glossary retrieved 2014-05-16
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Mortgage
a mortgage that has a first-priority claim against the property in the event the homeowner defaults on the loan.
- — Making Home Affordable Glossary retrieved 2014-05-16
Real Estate
A mortgage that is the primary lien against a property.
The mortgage with first priority if the loan is not paid.