secondary mortgage loan

A secondary mortgage loan means (A) a loan or an extension of credit, including, but not limited to, an extension of credit pursuant to a contract or an assigned contract for the sale of goods or services, made to a natural person, the proceeds of which are to be used primarily for personal, family or household purposes, and that is secured, in whole or in part, by a mortgage upon any interest in one-to-four-family owner-occupied residential property located in this state, provided such property is subject to one or more prior mortgages, and (B) the renewal or refinancing of any existing loan or extension of credit described in subparagraph (A).