Concept information
Preferred term
second mortgage
Definition
- Mortgages are often classified by their priority in the event of the borrower's default and, subsequently, foreclosure. The priority is important because it indicates which claim is to be satisfied in which order. [Source: The Encyclopedia of Housing; Second Mortgage]
Broader concept
Belongs to group
URI
http://data.loterre.fr/ark:/67375/N9J-TQBLQFVC-Z
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