second mortgage

noun

: a mortgage the lien of which is subordinate to that of a first mortgage

Examples of second mortgage in a Sentence

Recent Examples on the Web
These examples are automatically compiled from online sources to illustrate current usage. Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
The minimum down payment ratio for first and second mortgages was reduced by 15%. Brendan Ahern, Forbes, 24 Sep. 2024 Benefits like these remain out of reach for most U.S. workers, millions of whom drain savings, take out second mortgages, or cut back on food and other essentials to stay ahead of health care debt. Noam Levey, NPR, 17 Sep. 2024 Alternatively, a home equity loan is a type of second mortgage, which allows borrowers to pull cash while using the house as collateral. Jessica Dickler, CNBC, 11 Sep. 2024 Simmons took out a second mortgage in 2014 to help make ends meet. Josh Peña, CBS News, 24 July 2024 See all Example Sentences for second mortgage 

Word History

First Known Use

1912, in the meaning defined above

Time Traveler
The first known use of second mortgage was in 1912

Dictionary Entries Near second mortgage

Cite this Entry

“Second mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/second%20mortgage. Accessed 5 Nov. 2024.

Legal Definition

second mortgage

see mortgage

Last Updated: - Updated example sentences
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