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• a loan with a second-priority claim against a property in the event that the homeowner defaults. The lender who holds the second mortgage gets paid only after the lender holding the first mortgage is paid.

  Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program - Cite This Source - This Definition
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  Cite Definition for second mortgage

  American Psychological Association (APA)

  second mortgage. (n.d.). Making Home Affordable Glossary. Retrieved February 4, 2023, from website: http://www.expertglossary.com/definition/second-mortgage.

  Chicago Manual of Style (CMS)

  second mortgage. www.makinghomeaffordable.gov. Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. http://www.expertglossary.com/definition/second-mortgage (accessed: February 4, 2023).

  Modern Language Association (MLA)

  "second mortgage." Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. 4 February. 2023 http://www.expertglossary.com/definition/second-mortgage.

• Browse Related Terms: First Mortgage, Guarantee, Hazard Insurance, Lender-Placed Insurance, Lien, mortgage, Mortgage Insurance (MI), second mortgage, Suspension

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