|
|
Second mortgage lending |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Second mortgage lendingLoans secured by real estate previously pledged in a first mortgage.Second mortgage lending Similar MatchesFirst mortgageFirst mortgageA mortgage which carries priority over any subsequent mortgages if the borrower goes into default and his/her assets have to be sold to pay creditors. Junior mortgageJunior mortgageA mortgage that will be satisfied only after more senior mortgages have been satisfied. E.g., a first mortgage will be satisfied prior to a second or a third mortgage. Wholesale mortgage bankingWholesale mortgage bankingThe purchasing of loans originated by others, for the acquisition of the servicing rights. Mortgage protectionMortgage protectionTerm assurance to cover the repayment of a mortgage in the event of the death of the mortgagor during the period of the loan.In the case of a repayment mortgage the capital sum outstanding is gradually reduced over the term of the loan (albeit slowly during the initial years when the majority of the repayments are paying the interest) so that decreasing term assurance would be incorporated in the policy. For an endowment mortgage where the sum assured and the death benefit are at least equal to the amount of the loan throughout the term of the loan, level term assurance would be apt. Mortgage debtMortgage debtThe amount outstanding on your mortgage. Further SuggestionsWraparound mortgageendowment mortgage mortgage indemnity Growing Equity Mortgage (GEM) Alternative mortgage instruments reverse mortgage Standing mortgage Balloon mortgage Mortgage duration Mortgage Life Insurance Take back mortgage Federal National Mortgage Association (FannieMae) Mortgage Insurance Mortgage code arbitration scheme Open end mortgage Mortgagee Senior mortgage bond Mortgage application Chattel mortgage mortgage backed security reverse annuity mortgage Government National Mortgage Association (Ginnie Mae) Buy down mortgage remortgage Flexible mortgage |
|
|
|