Definitions of first mortgage
a security interest in property that has priority (=comes first) over any later security interests in the same property
If the first mortgage is for more than the home is worth, the second is really unsecured debt.
rzeczownik
full
noun
a security interest in property that has priority (=comes first) over any later security interests in the same property
If the first mortgage is for more than the home is worth, the second is really unsecured debt.