Definitions for "SECONDARY FINANCING"
Related Terms:
First mortgage, Junior mortgage, Subordinate financing, Second mortgage, Primary financing, Satisfaction of mortgage, Discharge of mortgage, Due on sale clause, Due-on-sale clause, Assumption of mortgage, All-inclusive trust deed, Mortgagee, Mortgagor, First lien, Subject to mortgage, Mortgage, Wrap-around mortgage, Assumption of a mortgage, Subordination clause, Partial release, Equitable mortgage, Due-on-sale-clause, Open-end mortgage, Mortgage loan, Redemption, Security instrument, Defeasance clause, Submortgage, Assumable, Home mortgage, Deed of trust or mortgage, Wraparound mortgage, Co-mortgagor, First charge, Due-on-sale provision, Due on sale, Assumption clause, Assumable loan, Alienation clause, Dragnet clause, Due-on-sale, Foreclosure, Piggy back loan, Home loan, Assumption, Assumable mortgage, Mortgage acceleration clause, Remortgage, Collateral mortgage, Release clause
A loan secured by a second mortgage or a second deed of trust. Back to the Top
Lien against real property that takes second position behind a first mortgage.
Loan that is subordinate to the primary loan and cannot be satisfied until the primary loan is paid.
a home loan that acts as a secondary or subordinate mortgage or as a secondary trust deed on real estate property.
Money borrowed to pay part of the required down payment or closing costs for a first loan, when the second loan is secured by the same property that secures the first loan.
A loan secured by a mortgage or deed of trust, that is junior to another mortgage or deed of trust.
Any loan other than the first or primary loan, which is secured by a mortgage on a property.
A mortgage, home equity line of credit, or seller carry, which takes second position to the first mortgage lien.
A loan secured by a junior trust deed or mortgage.
Negotiation of a second mortgage, or a junior mortgage, to assist in the acquisition of property.
'Financing real estate with a loan, or loans, subordinate to a first mortgage or first trust deed.
A loan secured by a mortgage or trust deed, which lien is junior to another mortgage or trust deed.
A loan on real property secured by a lien junior to an existing first mortgage loan
Junior trust deeds or mortgages, recorded after the first or primary financing.
Another term for a second mortgage; a loan which stands behind the principal loan.
A loan taken out in addition to a first loan, usually obtained from an individual lender.
Financing real estate with a loan or loans that are subordinate to a first mortgage or first truth deed.
A funding method using a loan secured by a second mortgage on a property. Sometimes used to refer to any financing technique other than equity and first mortgage debt.
A loan secured by a junior mortgage on property.
A loan secured by a mortgage or deed of trust, which has a lien that is junior to another mortgage of trust or deed.
Second, third, fourth, etc. mortgages, secured by a property "behind" the first mortgage.
A loan secured by a 2nd mortgage or trust deed of real property.
Borrowing additional money toward the down payment. If it is acceptable, usually subject to a maximum combined LTV. Secondary financing is used as an alternative to obtaining Private Mortgage Insurance and to avoid Jumbo loan rates.
Financing obtained, subordinate to the first mortgage, to facilitate closing the first mortgage. Also known as a 'piggyback' loan.
A loan secured by a second mortgage or trust deed on real property.
Any additional financing liened against a property, after the primary or first lien. If the property is foreclosed on, proceeds from the sale of the property will be used to pay off the existing liens in the order that they are recorded on the title. For that reason, a lender considers secondary financing to be riskier than a first lien position loan.
A mortgage secured by a second lien on a property, generally referred to as any mortgage debt other than a first mortgage.
Loans secured by the property, but subordinated to the first mortgage.
Refers to a loan secured by a second trust deed or mortgage (this referral is also used for third, fourth, fifth loans, etc.)